Rio Tinto reported mixed production results for Q2 2024, with notable increases in copper and bauxite output while iron ore remained relatively stable. Mined copper production rose 18% YoY to 171.2kt, driven by improved performance at Kennecott and Oyu Tolgoi. Bauxite production increased 9% to 14.7Mt, benefiting from higher plant utilization at Weipa operations.Iron ore shipments from Pilbara reached 80.3Mt (100% basis), up 2% YoY, despite a train collision in May that caused six days of lost rail capacity. Alumina production declined 10% to 1.7Mt due to ongoing impacts from a third-party gas pipeline breakage, leading to reduced full-year guidance of 7.0-7.3Mt. Titanium dioxide slag output fell 22% on weak market conditions.The company made progress on growth projects, with the Simandou iron ore project in Guinea advancing as planned for first production in 2025. The Western Range mine development is 70% complete, while the Oyu Tolgoi underground continues its ramp-up with 14 new drawbells opened during the quarter. Management maintained its 2024 Pilbara iron ore shipment guidance of 323-338Mt.

Rio Tinto reported mixed production results for Q2 2024, with notable increases in copper and bauxite output while iron ore remained relatively stable. Mined copper production rose 18% YoY to 171.2kt, driven by improved performance at Kennecott and Oyu Tolgoi. Bauxite production increased 9% to 14.7Mt, benefiting from higher plant utilization at Weipa operations.Iron ore shipments from Pilbara reached 80.3Mt (100% basis), up 2% YoY, despite a train collision in May that caused six days of lost rail capacity. Alumina production declined 10% to 1.7Mt due to ongoing impacts from a third-party gas pipeline breakage, leading to reduced full-year guidance of 7.0-7.3Mt. Titanium dioxide slag output fell 22% on weak market conditions.The company made progress on growth projects, with the Simandou iron ore project in Guinea advancing as planned for first production in 2025. The Western Range mine development is 70% complete, while the Oyu Tolgoi underground continues its ramp-up with 14 new drawbells opened during the quarter. Management maintained its 2024 Pilbara iron ore shipment guidance of 323-338Mt.