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

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.