Rio Tinto reported mixed Q2 2024 production results, with bauxite up 9% YoY to 14.7Mt but alumina down 10% to 1.7Mt due to ongoing impacts from a gas pipeline breakage. Pilbara iron ore shipments rose 2% to 80.3Mt, while mined copper increased 18% to 171kt.The company maintained its 2024 Pilbara iron ore shipments guidance of 323-338Mt but reduced alumina production guidance to 7.0-7.3Mt from 7.6-7.9Mt previously. Bauxite production is expected to be around the top end of the 53-56Mt range, while mined copper is anticipated at the lower end of 660-720kt.Rio Tinto continued to advance key growth projects, with the Simandou iron ore project in Guinea now unconditional and first production expected in 2025. The company also made progress on decarbonization initiatives, including new renewable energy agreements and investments in low-carbon technologies for aluminium and steel production.

Rio Tinto reported mixed Q2 2024 production results, with bauxite up 9% YoY to 14.7Mt but alumina down 10% to 1.7Mt due to ongoing impacts from a gas pipeline breakage. Pilbara iron ore shipments rose 2% to 80.3Mt, while mined copper increased 18% to 171kt.The company maintained its 2024 Pilbara iron ore shipments guidance of 323-338Mt but reduced alumina production guidance to 7.0-7.3Mt from 7.6-7.9Mt previously. Bauxite production is expected to be around the top end of the 53-56Mt range, while mined copper is anticipated at the lower end of 660-720kt.Rio Tinto continued to advance key growth projects, with the Simandou iron ore project in Guinea now unconditional and first production expected in 2025. The company also made progress on decarbonization initiatives, including new renewable energy agreements and investments in low-carbon technologies for aluminium and steel production.