Productivity Initiatives the Key Focus of Rio Tinto’s Pilbara Operations
We maintain our AUD 48 per share fair value estimate for no-moat-rated Rio Tinto. The company's Pilbara operations update provides much detail around the strategy, productivity initiatives, future capital, and operating costs. The Pilbara assets are the major earnings driver for Rio Tinto, accounting for more than 60% of forecast 2018 EBIT. With our lower forecast iron ore prices, a function of expected declining iron ore demand in China, we forecast iron ore's contribution to fall. However, we ...Rio Tinto is engaged in finding, mining and processing mineral resources. Co. has four product groups: iron ore, which supplies the global seaborne iron ore trade; aluminium, which includes bauxite mines, alumina refineries, and aluminium smelters; Copper and Diamonds, which has managed operations in Australia, Canada, Mongolia and the U.S., and non-managed operations in Chile and Indonesia, with by-product including gold, silver, molybdenum and others such as sulphuric acid, rhenium, and lead carbonate; and Energy and Minerals, which comprises mining, refining and marketing operations across borates, coal, iron ore concentrate and pellets, salt, titanium dioxide and uranium sectors.
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