Rio Tinto announced Q3 results: iron ore production increased by 9% compared with the same period last year, copper production increased by 15% month-on-month

SMM10 16: Rio Tinto (Rio Tinto) recently released this year's third quarter financial report.

On the iron ore front, Australia's Pilbara region shipped 86.1 million tonnes of iron ore, up 1 per cent from the previous month and 5 per cent year-on-year, boosted by Chinese demand. Iron ore production was 87.3 million tons, up 10 per cent from the previous month and 6 per cent from a year earlier.

Bauxite production also increased by 9 per cent year-on-year to 13.8 million tons, with total bauxite production reaching 40 million tons in the first nine months of this year.

But aluminium production fell 3 per cent to 989000 tonnes in the third quarter from a year earlier, Rio explained because of a preventive shutdown of one of the three aluminium can production lines in ISAL, Iceland, and an advance in the planned recycling of aluminium cans from the Kitimat project in Canada.

Over the same period, copper production in the third quarter of this year was 158000 tons, down 1 per cent from a year earlier. However, the increase of 15% over the previous month is mainly due to the uplift of the grade of Kennecott copper mine and the increase of Escondida copper production.

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