Rio Tinto PLC  

Rio Tinto PLC (LSE: RIO) is an FTSE 100 index-listed mining and metals company. The Company's business is finding mining and processing mineral resources. The Company's segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals, and Other Operations. 

Q1 FY24 Production Results (Released on 17 April 2024)

• Production Update: Bauxite output reached 13.4 mn tonnes in Q1 FY24, marking an 11% increase from Q1 FY23, driven by ongoing enhancements in operational stability at Weipa and Gove. Aluminum production totaled 0.8 million tonnes, a 5% rise during Q1FY24 from pcp, with Kitimat now operating at full capacity. Mined copper production stood at 156 thousand tonnes (on a consolidated basis), reflecting a 7% increase in Q1 FY24 from Q1 FY23.
• China Portside Trading EBITDA: During Q1 FY24 the iron ore portside sales in China totaled 6.5 mn tonnes, up from 6.2 mn tonnes during Q1 FY23. As of the end of March 2024, inventory levels reached 7.0 mn tonnes, compared to 6.4 mn tonnes at the end of December 2023, of which 4.8 mn tonnes consisted of Pilbara products. Approximately 90% of the portside sales in Q1 FY24 the first quarter of 2024 involved products either screened or blended in Chinese ports.
• Outlook: The projected Pilbara iron ore unit cash costs for 2024 remain steady within the range of USD 21.75/ tonne to USD 23.50 /tonne (based on an average AUD: USD exchange rate of 0.66). The anticipated copper C1 unit costs for FY24 also remain unchanged, expected to fall within the range of 140 to 160 US cents/lb. The outlook for Pilbara iron ore shipments in 2024 remains consistent, with expectations ranging from 323 to 338 mn tonnes.

Share Price Chart

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Rio Tinto PLC (LSE: RIO) was trading at the closing market price of GBX 5,388.00  (as of 17 April 2024)

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 17 April 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.