News: RIO Rio Tinto Posts Qtrly Pilbara Iron Ore Production (100% Basis) Of 77.9 Mt

April 17 (Reuters) - Rio Tinto Ltd (RIO) :

• QTRLY ALUMINIUM PRODUCTION 826 KT VERSUS 785 KT REPORTED LAST YEAR
• QTRLY PILBARA IRON ORE PRODUCTION (100% BASIS) 77.9 MT VERSUS 79.3 MT REPORTED LAST YEAR
• QTRLY PILBARA IRON ORE SHIPMENTS (100% BASIS) 78.0 MT VERSUS 82.5 MT REPORTED LAST YEAR
• QTRLY MINED COPPER PRODUCTION 156 KT VERSUS 145 KT REPORTED LAST YEAR
• 2024 PRODUCTION GUIDANCE IS UNCHANGED
• OUR SHARE OF CAPITAL INVESTMENT FOR 2024 REMAINS UNCHANGED AND IS EXPECTED TO BE UP TO $10.0 BILLION
• GUIDANCE FOR 2024 PILBARA IRON ORE UNIT CASH COSTS IS UNCHANGED AT $21.75 TO $23.50 PER TONNE RANGE
• GUIDANCE FOR 2024 PILBARA IRON ORE UNIT CASH COSTS IS UNCHANGED AT $21.75 TO $23.50 PER TONNE RANGE
• CONSTRUCTION OF OUR WESTERN RANGE MINE IS NOW OVER 50% COMPLETE
• GUIDANCE FOR 2024 COPPER C1 UNIT COSTS IS UNCHANGED AT 140 TO 160 US CENTS/LB.
• CONTINUE TO BELIEVE THAT JADAR LITHIUM-BORATE PROJECT IN SERBIA HAS THE POTENTIAL TO BE WORLDCLASS ASSET
• RHODES RIDGE PRE-FEASIBILITY STUDY (PFS) CONTINUES TO PROGRESS
• KENNECOTT IMPACTED CONVEYOR IS NOW FULLY OPERATIONAL AGAIN
• CONSTRUCTION WORKS FOR THE CONCENTRATOR CONVERSION FOR OYU TOLGOI UNDERGROUND PROJECT REMAIN ON SCHEDULE
• AT RINCON LITHIUM PROJECT IN ARGENTINA, DEVELOPMENT OF THE THREE THOUSAND TONNE PER ANNUM LITHIUM CARBONATE STARTER PLANT IS ONGOING
• RHODES RIDGE PFS IS TARGETING INITIAL CAPACITY OF UP TO 40 MILLION TONNES PER YEAR
• RHODES RIDGE FIRST ORE IS EXPECTED BY THE END OF THE DECADE
• CONSTRUCTION OF PRIMARY CRUSHER 2 AT OYU TOLGOI COMMENCED IN DECEMBER 2023 AND IS DUE TO BE COMPLETED BY THE END OF 2025.
• COPPER DEMAND GROWTH CONTINUES TO BE DRIVEN BY ENERGY TRANSITION SECTORS, INCLUDING EV
• ESTIMATE SHARE OF CAPITAL EXPENDITURE FOR SIMFER MINE AND CO-DEVELOPED INFRASTRUCTURE $6.2 BILLION
• FIRST PRODUCTION FROM THE SIMFER MINE IS EXPECTED IN 2025, RAMPING UP OVER 30 MONTHS TO AN ANNUALISED CAPACITY OF 60 MILLION TONNES PER YEAR
• AT KENNECOTT, NORTH RIM SKARN PRODUCTION IS NOW FORECAST TO COMMENCE AROUND MID-YEAR 2025
• FOR COPPER, CHINESE DEMAND GROWTH HAS BEEN ROBUST, DESPITE WEAKENING PROPERTY SECTOR
• CONTINUE TO EXPECT FIRST PRODUCTION FROM THE STARTER PLANT AT RINCON LITHIUM PROJECT IN ARGENTINA BY THE END OF 2024
• LABOUR MARKETS ARE STILL RESILIENT

(([email protected];))