Industry News

Rio Tinto announces positive H1 2024 operation results, underlining 3% rise in aluminium production

Views : 24
Update time : 2024-07-17 14:52:17
On July 16, 2024, Rio Tinto announced its second-quarter production results, indicating growth in its aluminium and bauxite operations. According to Rio's quarterly report, aluminium production in Q2 stood at 824,000 tonnes, experiencing a 1 per cent growth Y-o-Y, owing to stable performance at all its smelters during the period.

The steady sequential growth in Q2 aluminium production led to a 3 per cent rise in Rio's total aluminium output in six months, reaching 1.65 million tonnes.

In Q2, ended June 30, Rio Tinto announced that its New Zealand Aluminium Smelters (NZAS) secured a 20-year power contract for the Tiwai Point Aluminium Smelter to enable it to continue producing high-purity, low-carbon metal, backed by renewable electricity. This arrangement is expected to further boost Rio Tinto's aluminium output in the future.

Rio Tinto's bauxite production also increased in the second quarter of the year, coming in at 14.7 million tonnes, up 9 per cent Y-o-Y and 10 per cent Q-o-Q. In H1, the bauxite output was 28.1 million tonnes, reflecting an increase of 10 per cent from the previous year. The growth demonstrates the implementation of the Safe Production System (SPS), especially at Weipa, where Rio Tinto achieved higher plant utilisation and feed rates.  As a result, Rio Tinto expects its full-year bauxite production to reach 53 to 56 million tonnes.

Related News
Read More >>
Open arbitrage window and risen domestic demand propel China’s primary aluminium imports to a monthly high Open arbitrage window and risen domestic demand propel China’s primary aluminium imports to a monthly high
Sep .25.2024
Open arbitrage window and risen domestic demand propel China’s primary aluminium imports to a monthly high
LME aluminium price slumps by US$22/t; SHFE price gains US$26/t LME aluminium price slumps by US$22/t; SHFE price gains US$26/t
Sep .25.2024
LME aluminium price slumps by US$22/t; SHFE price gains US$26/t
SMM alumina price continues its growth trajectory, ascending by RMB13/t; A00 aluminium ingot price jumps by RMB100/t SMM alumina price continues its growth trajectory, ascending by RMB13/t; A00 aluminium ingot price jumps by RMB100/t
Sep .25.2024
SMM alumina price continues its growth trajectory, ascending by RMB13/t; A00 aluminium ingot price jumps by RMB100/t
Citi gives price forecast of aluminum, copper Citi gives price forecast of aluminum, copper
Sep .25.2024
Citi gives price forecast of aluminum, copper