Mining company, Rio Tinto, continues to prioritise safety and has reported several operational records.
Rio Tinto CEO, Jakob Stausholm, said the company was fatality-free for the fourth consecutive year. Also, a number of operational records were achieved across the Pilbara iron ore mine and rail system.
“Deployment of our Safe Production System resulted in improved performance at those sites and overall production was higher versus 2021 across all commodities, with the exception of aluminium and alumina,” he said.
“The acquisition of Turquoise Hill Resources strengthens our copper portfolio and demonstrates our ability to allocate capital with discipline to grow in materials the world needs for the energy transition and delivering long-term value for our shareholders.
“Copper guidance has been increased accordingly. We continue to invest in future growth, progressing the Rincon lithium project in Argentina and are working with our partners to progress the Simandou project in Guinea.
“We continue to work hard to transform our culture and invest in genuine partnerships. I am proud that we have reached new agreements with the Yindjibarndi and Puutu Kunti Kurrama and Pinikura peoples in Australia, and the Pekuakamiulnuatsh First Nation in Canada.
“In line with our new purpose of finding better ways to provide the materials the world needs, we will continue to progress our four objectives and strategy to strengthen the business, which will lead to profitable growth and continue to deliver attractive shareholder returns.”
Pilbara operations reportedly produced 324.1 million tonnes in 2022, 1.0 per cent higher than 2021. Shipments were 321.6 million tonnes, in line with 2021. Performance improvements continued across the system and the company achieved record second half performance across the mine and rail system.
Bauxite production of 54.6 million tonnes was 1.0 per cent higher than 2021, despite equipment reliability issues at Weipa and Gove in Australia.
Aluminium production of 3.0 million tonnes was 4.0 per cent lower than 2021 due to reduced output at the Kitimat smelter in British Columbia, Canada and Boyne smelter in Queensland, Australia. The rate of pot restarts at Kitimat picked up in the fourth quarter and Boyne smelter cell recovery efforts continued. Recovery at both smelters is progressing with full ramp-up expected to be completed during the course of 2023. All of Rio Tinto’s other aluminium smelters continued to demonstrate stable performance.
In other news, the rehabilitation of Mount Morgan gold mine in Central Queensland is expected to benefit the economy of the wider Rockhampton region.
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