Rio Tinto Announces Strong Third Quarter Production; Bauxite Production Sets New Record
Rio Tinto recently announced it has achieved strong third quarter production. Third quarter bauxite production set a new quarterly record and was 9% higher than in the third quarter of 2012. Year-to-date production is also reportedly up 11% against the same period in 2012.
Third quarter alumina production was 13% lower than the same period in 2012, reportedly due to the shutdown of one of three digestion stages at Gove following a failure of the heat exchangers, which occurred in February. Production for the nine months to September was 5% lower than the corresponding period in 2012, as both the Queensland refineries recover from the impacts of ex-tropical cyclone Oswald experienced in the first quarter of 2013.
“We achieved strong production results in the third quarter, with copper volumes up as Oyu Tolgoi ramps up to full capacity and Kennecott continues to recover ahead of expectations,” said Sam Walsh, chief executive. “Productivity improvements in our Australian operations led to record quarterly thermal coal production. In iron ore, we achieved record production and shipments in Western Australia following the official opening of our landmark Pilbara 290 port and rail expansion, four months ahead of its original schedule and $400 million under budget. We maintained good progress against our strategic priorities to improve the performance of our businesses, strengthen the balance sheet and deliver our approved growth projects. We are also making further important gains in productivity across our operations and continue to drive costs out of the business.”
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