Rio Tinto has announced a 21% increase in copper production for the December quarter of 2024, reaching 202,000 tonnes. Full-year copper production stands at 697,000 tonnes, a 13% rise from 2023. The miner also reports steady numbers for other commodities, with iron ore production slightly down and bauxite and aluminium production showing growth. CEO Jakob Stausholm highlights the successful ramp-up of the Oyu Tolgoi copper mine and the progress of key projects like Simandou and Western Range.
Rio Tinto has reported a strong increase in copper production and steady numbers for its other commodities for the December quarter of 2024, with its full-year guidance unchanged. The major miner's copper production was up 21% quarter-on-quarter to 202,000 tonnes, with full-year production at 697,000t - 13% more than 2023. It produced 86.5 million tonnes of iron ore from the Pilbara during the final three months of last year, largely in line with the quarter before.
Rio recorded an average realised price of $89.6 per wet metric tonne over 2024, around $10 less than was the case in 2023. This is despite average monthly prices of $103 per dry metric tonne for Platts CFR 62% product in the December quarter.
COPPER PRODUCTION IRON ORE BAUXITE ALUMINIUM RIO TINTO
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