Rio Tinto Plc : Results still being driven by iron ore, offsetting general uptrend in costs; TP raised to 6,000p
>Q4 production dominated by iron ore, costs continue to rise - Here we are not discussing in detail the group’s Q4 production figures, which we commented on last week. They were broadly solid, enabling the group to meet all its annual production targets. But the overall performance was dominated by Pilbara Iron Ore, which remained the group’s earnings driver (82% of EBITDA 2023e) whereas other activities turned in more mixed performances. With annual shipments at 332...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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