Mining giant Rio Tinto Plc. (RTNTF.PK,RIO: Quote,RIO.L,RTPPF.PK) Tuesday reported that fourth- quarter global iron ore production increased 2 percent from last year to 66 million tonnes. Of these, Rio Tinto share was 51.97 million tonnes, 1 percent higher than last year.
Total mined copper production climbed 20 percent to 163.9 million tonnes. Bauxite and alumina production were 13 percent and 11 percent higher than 2011.
Global iron ore production for the full year increased 4 percent to 253 million tonnes, of which Rio Tinto share 198.87 million tonnes. The company noted that global iron ore shipments of 247 million tonnes were achieved in 2012 despite severe weather disruptions and a significant maintenance shut-down during the year.
Rio Tinto Chief Executive Tom Albanese said, “This was another year of strong operational performance across the Group. We achieved record annual iron ore production and shipments as our expansion programme continues on schedule, delivering industry leading returns for our shareholders. Our copper, bauxite, alumina, thermal coal and titanium dioxide businesses all delivered substantial production increases on 2011 levels.”
Looking ahead, Albanese said, “markets remain volatile, but our business continues to perform well. Across the Group we are taking action to roll back unsustainable cost increases. This further enhances our resilience and competitive edge as we enter 2013.”
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by RTT Staff Writer
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