Diversified global miner Rio Tinto Group produced 86.5 million mt of iron ore from its Pilbara operations in Western Australia during the fourth quarter, down 1% year-on-year, while shipments fell to 85.7 million mt.
Full-year production in 2024 from the Pilbara fell 1% year-on-year to 328 million mt of iron ore as productivity gains did not fully offset depletion, particularly at the Yandicoogina and Paraburdoo mines, the company said on January 16. Shipments also fell 1% to 328.6 million mt.
Rio Tinto’s operations in eastern Canada produced 2.5 million mt of iron ore pellets and concentrates in the last quarter, a decline of 6% year-on-year. Full-year production from the unit fell 2% to 9.4 million mt due to an 11-day shutdown caused by forest fires in July and operational challenges at the mine and concentrator throughout the year.
“[T]Our Simandou high-grade iron ore project in Guinea and our Western Range mine in the Pilbara are scheduled for first production this year,” said CEO Jakob Stausholm.
Rio Tinto maintained its Pilbara iron ore production guidance for 2025 at 2024 levels, at 323 million-328 million mt.
Nonferrous surgery
Rio Tinto mine copper production in the fourth quarter increased 26% to 202,000 mt while full-year production jumped 13% to 697,000 mt.
Geotechnical challenges impacting the mining pipeline at the Kennecott copper mine in Utah were offset by improvements at Oyu Tolgoi in Mongolia and higher production from the Escondida mine in Chile, the company said.
The company produced 837,000 mt of aluminum in the quarter ended December 31, down 1% year over year. Full-year aluminum production in 2024 increased 1% to 3.3 million mt, following increased construction of the Kitimat smelter in Canada, completion of cell recovery efforts at the Boyne smelter in Australia in 2023, and increased ownership of the New Zealand Aluminum Smelter.
Bauxite production increased 2% year-on-year to 15.4 million mt in the fourth quarter, while full-year production increased 7% to 58.7 million mt. This was driven by record annual production at Amrun and Gove’s Australian operations, the company said.
Rio Tinto now expects bauxite and alumina production to increase in 2025 from 2024 levels. Aluminum production is expected to increase slightly to 3.25 million-3.45 million mt in 2025, it said.
Source: Platts
