News: RIO Rio Tinto Says Qtrly Pilbara Iron Ore Shipments (100% Basis) 82.5 Mt

April 20 (Reuters) - Rio Tinto Ltd (RIO) :

• QTRLY PILBARA IRON ORE PRODUCTION (100% BASIS) 79.3 MT VERSUS 71.7 MT REPORTED LAST YEAR
• QTRLY PILBARA IRON ORE SHIPMENTS (100% BASIS) 82.5 MT VERSUS 71.5 MT REPORTED LAST YEAR
• QTRLY ALUMINIUM PRODUCTION 785 KT VERSUS 736 KT REPORTED LAST YEAR
• QTRLY MINED COPPER PRODUCTION 145 KT VERSUS 125 KT REPORTED LAST YEAR
• QTRLY BAUXITE PRODUCTION 12.1 MT VERSUS 13.6 MT REPORTED LAST YEAR
• RIO TINTO LTD SEES 2023 MINED COPPER PRODUCTION 590 TO 640 KT
• RAMP-UP OF GUDAI-DARRI CONTINUED TO PLAN WITH MINE EXPECTED TO REACH ITS NAMEPLATE CAPACITY ON A SUSTAINED BASIS DURING 2023
• GUIDANCE FOR 2023 PILBARA IRON ORE UNIT CASH COSTS IS UNCHANGED AT $21.0 TO $22.5 PER TONNE
• COMMODITY PRICES FOUND FURTHER SUPPORT DURING Q1
• GUIDANCE FOR 2023 COPPER C1 UNIT COSTS IS UNCHANGED AT 160 TO 180 US CENTS/LB.
• CHINA CONSUMPTION EXPECTED TO NORMALISE AND RECOVER FURTHER WITH HOUSEHOLD INCOMES
• SHARE OF CAPITAL INVESTMENT FOR 2023 REMAINS UNCHANGED AT AROUND $8.0 BILLION
• FOR OYU TOLGOI, STUDY WORK FOR PANELS 1 AND 2 REMAINS ON TRACK TO BE COMPLETED IN THE FIRST HALF OF 2023
• POTENTIAL BANKING CRISIS HAS LED TO FURTHER TIGHTENING OF CONDITIONS BOTH IN TERMS OF CREDIT AVAILABILITY AND COSTS
• INFLATION REMAINS PERSISTENTLY HIGH IN WESTERN WORLD, AND RISK OF FURTHER RATE HIKES ON GLOBAL ECONOMY REMAINS
• GIVEN LAG EFFECT OF TIGHTER MONETARY POLICY, RISK OF A RECESSION IN THE U.S. LATER THIS YEAR REMAINS
• FOR OYU TOLGOI, SHAFTS 3 AND 4 EXPECTED TO BE COMMISSIONED IN THE FIRST HALF OF 2024
• ELECTRIC VEHICLE SECTOR REMAINS ROBUST, ALBEIT WITH FALLING GROWTH RATES FROM A HIGHER BASE
• LONG-TERM OUTLOOK FOR LITHIUM CARBONATE REMAINS FAVOURABLE AS GOVERNMENTS CONTINUE THEIR PUSH FOR EV ADOPTION
• SHORT TERM UNCERTAINTY FOR LITHIUM CARBONATE SPOT PRICES REMAINS AS GLOBAL ECONOMY SLOWS, RISING INTEREST RATES
• ACHIEVED FIRST SUSTAINABLE PRODUCTION FROM PANEL 0 AT OYU TOLGOI DURING THE QUARTER
• CONTINUE TO BELIEVE THAT THE JADAR LITHIUM-BORATE PROJECT IN SERBIA HAS THE POTENTIAL TO BE A WORLDCLASS ASSET
• IRON ORE PORTSIDE SALES IN CHINA WERE 6.2 MILLION TONNES IN Q1 2023 VERSUS 7.0 MILLION TONNES IN Q1 2022
• DURING QUARTER, MINED COPPER PRODUCTION AT OYU TOLGOI ON A 100% BASIS INCREASED 41% FROM Q1 2022