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Rio Tinto 2018 iron ore production rises 2%; copper output jumps 33%

Published 01/17/2019, 05:29 PM
© Reuters.  Rio Tinto 2018 iron ore production rises 2%; copper output jumps 33%
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  • Rio Tinto (NYSE:RIO) reports a 2% Y/Y increase in FY 2018 iron ore production from Australia's Pilbara region to 338M metric tons, citing a ramp-up of expanded mines and fewer weather related disruptions.
  • The 2018 result came in at the upper end of its guidance of 330M-340M metric tons, and Rio sets an output target of 338M-350M tons for 2019.
  • Rio says full-year mined copper production jumped 33% Y/Y to 633.5K metric tons, reflecting strong performance at Escondida and increased production from Rio Tinto Kennecott due largely to higher grades; for 2019, Rio forecasts output of 550K-600K tons.
  • For Q4, iron ore production from the Pilbara fell 1% Y/Y to 86.6M metric tons, while copper climbed 20% to 177.8 metric tons.
  • Now read: Measuring Rio Tinto's Progress On The Benjamin Graham Model


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