Slightly Soft Production for Rio Tinto, but Future Commodity Prices Remain Key
Rio Tinto’s production in 2018 was slightly weaker than expected. Rio's share of iron ore sales came in at 281 million tonnes, which was marginally below our 282 million-tonne forecast. Alumina and aluminium were also a bit softer due to maintenance shutdowns and unplanned disruptions. Those issues aside, aluminium capacity continued to increase at the rate of 1% a year, in line with our long-run expectations for productivity improvements. Diamond output declined 15% year on year with the Argyle...Rio Tinto is a mining group based in the United Kingdom and Australia. Co. is engaged in the business of finding, mining and processing mineral resources. Co.'s major products are iron ore, aluminium, copper, diamonds, coal, uranium, gold and industrial minerals (borax, titanium dioxide and salt). Co.'s activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and Africa. Co.'s operations comprise four principal product groups - Iron Ore, Aluminium, Copper and Diamonds, and Energy & Minerals.
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