TECK - Rio Tinto Reports Strong First Half With Major Gains In Iron Ore Bauxite Copper Lithium Production | Benzinga
A global mining leader, Rio Tinto (NYSE:RIO), reviewed the first half of the year and evaluated progress across key projects such as Simandou in Guinea, Oyu Tolgoi in Mongolia, and Jadar in Serbia.
“We are growing with discipline in the materials the world needs for the energy transition,” said CEO Jakob Stausholm, whose company demonstrated an output increase across the board
Rio shipped 80.3 million tons of iron ore in Q2, posting a 3% sequential increase. Pilbara ore shipments remain on the full-year guidance at 323 million to 338 million tons, despite a minor decline due to a train collision.
After receiving all necessary approvals, the company is now positioned to begin developing the Simandou iron ore project. The first production is targeted for 2025, with an anticipated ramp-up to an annual capacity of 60 million tons.