Rio Tinto Q1 Iron Ore Production And Iron Ore Shipments Rise

(RTTNews) - Mining giant Rio Tinto (RTPPF.PK, RIO.L, RIO, RTNTF.PK) reported that its Global iron ore shipments of 72.5 million tonnes (Rio Tinto share 57.3 million tonnes) were nine per cent higher than in the first quarter of 2014. Production of 74.7 million tonnes (Rio Tinto share 59.4 million tonnes) was a 12 per cent increase year on year.

Record first quarter bauxite production was four per cent higher than the first quarter of 2014, primarily due to a strong performance at Weipa.

Aluminium production in the first quarter was in line with the same period of 2014, despite the partial shutdown at Kitimat, which continues to prepare for first hot metal at the modernised smelter by mid-2015.

Mined copper production was 12 per cent higher than the fourth quarter of 2014, driven by higher throughput at Kennecott and Escondida. Lower grades at Kennecott were the primary driver of the nine per cent decline compared with the first quarter of 2014.

Titanium dioxide production was 17 per cent lower than in the first quarter of 2014 as production continued to be optimised to align with market demand.