Rio Tinto has released its fourth quarter production results, which showed that the company delivered strong safety and operational performance in the face of the significant global challenges of COVID-19.
The company, which recorded its second fatality-free year in a row, achieved strong performance across its Pilbara iron ore network in 2020, despite impacts from Cyclone Damien in the first quarter and COVID-19 disruptions which also resulted in the deferral of maintenance to the second half.
It achieved shipments of 330.6 million tonnes – 1% higher than 2019 – and production of 333.4 million tonnes, 2% higher than 2019. This was underpinned by record total material moved, 7% higher than the previous record in 2019.
The company’s bauxite production amounted to 56.1 million tonnes – 2% higher than 2019 – supported by the ramp-up of the expansion at the CBG mine in Guinea, and steady performance at the Pacific mines.
Rio Tinto’s aluminium production of 3.2 million tonnes was in line with 2019, with lower volumes from the curtailment of Line 4 at the Tiwai Point aluminium smelter in New Zealand and from the Kitimat smelter pot relining campaign, offset by the ramp-up of the Becancour smelter in Quebec.
The company said its mined copper was above the guidance range, but 9% lower than 2019 due to lower grades at Kennecott as a result of planned pit sequencing and Oyu Tolgoi production phasing.
Titanium dioxide slag production of 1.1 million tonnes was 7% lower than 2019 due to COVID-19 restrictions in Quebec and South Africa and lower market demand and operational disruptions at Richards Bay Minerals (RBM), whereas production of pellets and concentrate at Iron Ore Company of Canada (IOC) was 1% lower than 2019 due to unplanned maintenance at the processing facilities in the third and fourth quarters.
Rio Tinto Chief Executive Jakob Stausholm said the company’s 2020 performance reflected the resilience of the business, and the commitment and flexibility of its employees, customers, communities and host governments.
“Safe and well-run operations, together with world-class assets and a strong balance sheet, leave Rio Tinto well placed to generate superior returns for shareholders, invest in sustaining and growing our portfolio, while continuing to pay taxes and royalties in our host communities and make a broader contribution to society, including employment and procurement,” Mr Stausholm concluded.
