News: RIO Rio Tinto Posts QTRLY Pilbara Iron Ore Shipments (100% Basis) 86.8 MT

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

• QTRLY PILBARA IRON ORE SHIPMENTS (100% BASIS) 86.8 MT VERSUS 87.4 MT
• QTRLY PILBARA IRON ORE PRODUCTION (100% BASIS) 83.6 MT VERSUS 86.6 MT
• QTRLY BAUXITE PRODUCTION 15.1 MT, UP 28% IN Q4 2018
• SEES 2020 PILBARA IRON ORE SHIPMENTS BETWEEN 330 MT TO 343 MT
• QTRLY MINED COPPER PRODUCTION 138.7 KT VERSUS 177.8 KT
• SEES 2020 MINED COPPER GUIDANCE BETWEEN 530 TO 570 KT
• SEES SHARE OF BAUXITE PRODUCTION IN 2020 BETWEEN 55 TO 58 MT
• IN 2019, ACHIEVED AVERAGE IRON ORE PRICE OF $79.0 PER WET METRIC TONNE ON AN FOB BASIS
• CONTINUE TO EXPECT TO COMPLETE OYU TOLGOI MINE DESIGN IN FIRST HALF OF 2020
• CONTINUE TO EXPECT TO COMPLETE OYU TOLGOI UNDERGROUND PROJECT DEFINITIVE ESTIMATE OF COST AND SCHEDULE IN SECOND HALF OF 2020
• FOR RIO TINTO KENNECOTT, 45-DAY MAINTENANCE SHUT PLANNED AT SMELTER DURING Q2 2020
• LOWER COPPER GRADES AT KENNECOTT EXPECTED UNTIL CO ACCESS HIGHER GRADES FROM END OF 2020 RESULTING FROM PHASE ONE OF SOUTH WALL PUSHBACK PROJECT
• "INCREASING OUR INVESTMENT, WITH $2.25 BILLION OF HIGH-RETURN PROJECTS IN IRON ORE AND COPPER APPROVED IN Q4"
• RECOGNISED CHARGE OF ABOUT $200 MILLION AGAINST 2019 UNDERLYING EBITDA AS ESCONDIDA RAISED PROVISION FOR CANCELLATION OF EXISTING COAL CONTRACTS
• OYU TOLGOI UNDERGROUND PROJECT REMAINS WITHIN 16-30 MNTH DELAY IN SCHEDULE & AN INCREASE OF $1.2 TO $1.9 BILLION IN DEVELOPMENT CAPITAL COSTS