Q4 2023 operational highlights and other key announcements
Rio Tinto Chief Executive Jakob Stausholm said: “We were fatality free for the fifth consecutive year at our
managed operations but we remain vigilant and continue to learn from safety incidents. The Group’s total
copper equivalent production increased by just over 3% from 2022, reflecting the Gudai-Darri mine in the
Pilbara reaching its nameplate capacity and deployment of our Safe Production System. We also benefited
from our increased ownership in Oyu Tolgoi as the underground ramps up and the Kitimat aluminium smelter
returned to full capacity.
“We made real progress in shaping our portfolio for the future, entering the recycled aluminium market in North
America and progressing the world class Simandou iron ore project in Guinea. We have one of the most
exciting exploration pipelines in years, including our new copper joint venture with Codelco, launched in
December. We continue to work hard to transform our culture and to invest in deep engagement and
partnerships with Traditional Owners, such as our agreement to explore renewable energy projects with the
Yindjibarndi Energy Corporation.
“There is good demand for the materials we produce, and our purpose and long-term strategy make more
sense than ever. The work we are doing today is creating a stronger Rio Tinto for years to come, as we invest in
profitable growth while continuing to deliver attractive shareholder returns.”
• The safety, health and wellbeing of our workforce and communities where we operate remains our
priority. We achieved our fifth consecutive year with no fatalities at our managed operations. But we
maintain a state of chronic unease as safety incidents continued to occur at our sites, including two
Permanent Disabling Injuries in 2023. We are applying learnings from these to enhance processes
across our operations.
• Pilbara operations produced 331.5 million tonnes (100% basis) of iron ore, 2% higher than 2022.
Improved productivity, supported by ongoing implementation of the Safe Production System, and the
ramp up of Gudai-Darri to its nameplate capacity of 43 million tonnes per annum, within 12 months of
commissioning, more than offset mine depletion. Shipments were 331.8 million tonnes (100% basis),
3% higher (+10 million tonnes) than 2022 and the second highest on record, with healthy inventory
positions at year-end.
• On 18 October, we announced plans to increase iron ore production capacity at Gudai-Darri by 7 million
tonnes to 50 million tonnes a year through incremental productivity gains, at a cost of around $70
million. The capacity increase is subject to environmental, heritage and other relevant approvals.
• Bauxite production of 54.6 million tonnes in 2023 was unchanged from 2022. Operations saw a
continued improvement in the fourth quarter, with production 8% higher than the prior quarter, following
the challenges of higher-than-average rainfall at Weipa in the first quarter and equipment downtime at
both Weipa and Gove in the first half.
Item downloadable via here; https://www.riotinto.com/en/invest/fina ... production
Also posted on Company News here; viewtopic.php?p=640508#p640508
I hold these in my HYP, and know others hereabouts do too, so this may be of interest here.
Ian.