Rio Tinto Releases Solid Production Results for 2015 Fourth Quarter
Rio Tinto recently announced its production results for the fourth quarter of 2015. “Against a challenging market backdrop for the industry, Rio Tinto remains focused on operating and commercial excellence to leverage the low-cost position of our tier-1 asset base,” said Sam Walsh, CEO. “In 2015, we delivered efficient production, meeting our targets across all of our major products, while rigorously controlling our cost base. We will continue to focus on disciplined management of costs and capital to maximize cash flow generation throughout 2016.”
Bauxite production increased 4% from 2014 to 43.7 million tons during 2015 from the Weipa and Gove plants. Gove has now reached production and export capacity of 8 million tons per year of dry bauxite. Third-party shipments exceeded 26 million tons, representing the highest proportion ever achieved of Rio Tinto’s total share of production.
Alumina production for 2015 increased 4% compared with 2014 (excluding production from the Gove refinery, which was curtailed in May 2014), reflecting continued consistent performance across Rio Tinto’s refineries. Aluminum production was in line with 2014. Record annual production at nine smelters offset lower production from Kitimat as the modernized and expanded smelter was commissioned. Kitimat’s ramp-up toward nameplate capacity of 420 thousand tons is underway and is expected to be achieved in early 2016.
Rio Tinto’s expected share of production of bauxite, alumina and aluminum in 2016 is 45 million tons, 7.8 million tons and 3.6 million tons, respectively.
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