Rio Tinto Plc : Decent Q2 production report, copper dragged down by Kennecott
>Decent numbers in iron ore, more mixed in aluminium and copper - Rio Tinto yesterday evening released solid Q1 production numbers, broadly in line with our forecasts for the largest divisions. In the core iron ore division (69% of 2024e EBITDA), production stood at 80.3mt, -1% y-o-y, and shipments at 79.5mt, flat y-o-y, slightly affected by a train collision in May which resulted in six days of lost rail capacity. The mix, which had deteriorated in previous quarters...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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