Rio Tinto: Pilbara Iron Ore Shipments Hit All-Time High in the First Quarter, Copper Output at 145,000 mt

Rio Tinto announced its production performance for the first quarter of 2023.

Pilbara iron ore production in the first quarter was 79.3 million mt (100% equity basis), an increase of 11% compared to the first quarter of 2022. The iron ore shipment volume of Pilbara was 82.5 million mt (100% equity basis), an increase of 16% compared with the same period in 2022, and set a new record for shipments in the first quarter. Mine production increased and inventory decreased.

Bauxite production was 12.1 million mt.

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Copper output produced with copper concentrate stood at 145,000 mt (on a consolidated basis), and was flat from Q1 2022.

In 2023, the production guidance target of copper output produced wtih copper concentrate was lowered to 590,000-640,000 mt (down from 650,000-710,000 mt), mainly due to the impact of the interruption of the conveyor belt of the Kennecott Copper Mine and the geotechnical challenges faced by open pit Escondida Copper Mine.