Rio Tinto reports Q1 Pilbara iron ore production 77.9 Mt, down 2% y/y

Reports Q1 Bauxite production 13.4 Mt, down 11% y/y. Reports Q1 Aluminum production 826 kt, down 2% y/y. Reports Q1 mined Copper 156kt, down 3% y/y. Tinto Chief Executive Jakob Stausholm said: “We delivered stable operating results in the first quarter, including improvements at our bauxite and aluminium businesses, as we navigated seasonal challenges across our global operations. Our full year guidance is unchanged across all our products. We remained focused on growth in energy-transition materials, with the ramp-up at Oyu Tolgoi underground, the first full quarter of recycled aluminium production from Matalco and further progress at Simandou, our high grade iron ore project in Guinea. “Action to decarbonise our operations continues, with power purchase agreements signed marking a significant step towards a competitive renewable energy solution for our Gladstone operations – the single largest lever towards our 2030 emissions goal. We also joined with BHP and BlueScope to investigate the development of Australia’s first electric smelting furnace pilot plant, progressing our work on steel decarbonisation. We continue to pursue our long-term strategy, and have a clear pathway to deliver operational excellence, while investing in profitable growth and delivering attractive shareholder returns.”