Rio Tinto: aluminum, iron ore output down in fourth quarter
(CercleFinance.com) - Rio Tinto said it delivered a solid operational performance in the final quarter of 2018, despite fourth-quarter aluminum output falling 3% and iron ore production slipping 1%.
Aluminium production fell 1% in the fourth quarter and reached 3.5 million tonnes in 2018, 3% lower than in 2017, primarily due to labour disruptions at a smelter in Canada, the miner said.
Its Pilbara iron ore production fell 1%, but rose 2% over full-year 2018, Rio said. Its mined copper output was 33% higher than 2017.
Rio Tinto noted the negative impact to EBITDA resulting from raw material input price inflation, particularly in the aluminium business, continued in the second half of 2018.
Rio shares rose after this report this morning, adding 0.5% at 3,918 pence.
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Aluminium production fell 1% in the fourth quarter and reached 3.5 million tonnes in 2018, 3% lower than in 2017, primarily due to labour disruptions at a smelter in Canada, the miner said.
Its Pilbara iron ore production fell 1%, but rose 2% over full-year 2018, Rio said. Its mined copper output was 33% higher than 2017.
Rio Tinto noted the negative impact to EBITDA resulting from raw material input price inflation, particularly in the aluminium business, continued in the second half of 2018.
Rio shares rose after this report this morning, adding 0.5% at 3,918 pence.
Copyright (c) 2019 CercleFinance.com. All rights reserved.