Rio Tinto Plc : Q2 2019 in line with forecasts, Oyu Tolgoi delayed and more expensive
>Low production in H1 2019 (as expected) - Rio Tinto's production of copper equivalent in H1 2019 was down 2% compared with H1 2018. The drop in iron ore shipments in Q1 2019 (-14%) then in Q2 2019 (-7%) is the main explanation. The 2019 guidance is nevertheless reiterated (320-330mt vs ODDO BHF 325mt). Over the same period, the other divisions did not offset this contraction.Upward revision to our price scenario - The iron ore price with 62% iron re...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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