Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Rio Tinto plc
  6. News
  7. Summary
    RIO   GB0007188757

RIO TINTO PLC

(RIO)
  Report
Delayed London Stock Exchange  -  11:35 2022-09-29 am EDT
4894.00 GBX   +0.82%
11:47aRio Tinto starts producing spodumene at Quebec plant
RE
11:41aRio Tinto Starts Production of Spodumene Concentrate at Demonstration Plant in Canada
MT
08:35aRio Tinto starts demonstration plant for lithium concentration in Quebec
BU
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Rio Tinto 2Q Iron Ore Exports Up 5%; Aluminum, Diamond Guidance Cut

07/14/2022 | 05:09pm EDT

By Rhiannon Hoyle


Rio Tinto PLC on Friday said it produced more iron ore and copper in its fiscal second quarter versus a year earlier, but downgraded full-year goals for aluminum and diamond output.

The Anglo-Australian mining company reported shipments of 79.9 million metric tons from its iron-ore operations in Australia's Pilbara region during the three months through June, up 5% on a year ago. Alongside Brazil's Vale SA, Rio Tinto is the world's top producer of the steel ingredient.

The miner also recorded a 9% on-year rise in mined copper output, to 126,000 tons and a 3% increase in bauxite production, to 14.1 million tons.

However, second-quarter aluminum output tumbled by 10%, to 731,000 tons, as a labor strike reduced capacity at its Kitimat smelter in British Columbia.

Rio Tinto cut its fiscal-year aluminum production goal to 3.0 million-3.1 million tons, from 3.1 million-3.2 million previously. It pared its alumina guidance to 7.6 million-7.8 million tons, from 8.0 million-8.4 million.

The miner also reduced its full-year diamonds production estimate to 4.5 million-5.0 million carats, from 5.0 million-6.0 million. A build up of maintenance and impacts from the Covid-19 pandemic impacted performance during the half, it said.


Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

-0- 

(END) Dow Jones Newswires

07-14-22 1909ET

Stocks mentioned in the article
ChangeLast1st jan.
RIO TINTO PLC 0.82% 4894 Delayed Quote.-0.78%
S&P GSCI ALUMINUM INDEX 4.33% 140.1799 Real-time Quote.-24.66%
SILVER -0.34% 18.771 Delayed Quote.-21.09%
VALE S.A. -0.41% 68.03 Delayed Quote.-13.16%
All news about RIO TINTO PLC
11:47aRio Tinto starts producing spodumene at Quebec plant
RE
11:41aRio Tinto Starts Production of Spodumene Concentrate at Demonstration Plant in Canada
MT
08:35aRio Tinto starts demonstration plant for lithium concentration in Quebec
BU
05:33aRio Tinto Slams Energy Resources Of Australia For Eyeing Jabiluka Mining Despite Indige..
MT
02:42aAustralia shares mark best day in three months on resources boost
RE
02:13aResponse to Energy Resources of Australia's independent valuation report
BU
09/28Australian shares track global markets higher as BoE seeks to quell UK bond rout
RE
09/27Miners, energy stocks lift Australian shares despite recession jitters
RE
09/27Alderan Resources to Test IP Geophysical Target at Frisco Project in Utah; Shares Jump ..
MT
09/27Rio Tinto To Invest $55 Million For Copper Mining Operations In US
MT
More news
Analyst Recommendations on RIO TINTO PLC
More recommendations
Financials (USD)
Sales 2022 55 755 M - -
Net income 2022 15 498 M - -
Net Debt 2022 264 M - -
P/E ratio 2022 5,36x
Yield 2022 11,3%
Capitalization 87 033 M 87 033 M -
EV / Sales 2022 1,57x
EV / Sales 2023 1,71x
Nbr of Employees 49 000
Free-Float 65,4%
Chart RIO TINTO PLC
Duration : Period :
Rio Tinto plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends RIO TINTO PLC
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 23
Last Close Price 52,20 $
Average target price 64,05 $
Spread / Average Target 22,7%
EPS Revisions
Managers and Directors
Jakob Stausholm Chief Executive Officer & Executive Director
Peter Lloyd Cunningham Chief Financial Officer & Executive Director
Dominic S. Barton Chairman
Mark Davies Chief Technical Officer
Arnaud Soirat Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
RIO TINTO PLC-0.78%86 814
BHP GROUP LIMITED13.51%122 294
GLENCORE PLC28.22%66 591
SAUDI ARABIAN MINING COMPANY (MA'ADEN)71.46%43 978
ANGLO AMERICAN PLC-9.53%35 626
GRUPO MÉXICO, S.A.B. DE C.V.-22.07%26 659