By Rhiannon Hoyle
Rio Tinto said it produced and shipped slightly less of steelmaking ingredient iron ore in 2024, but mined more copper, bauxite and made more aluminum.
The world's second-biggest miner by market value on Thursday said it produced 328.0 million metric tons of iron ore last year at mines in Australia's mineral-rich Pilbara region, and shipped 328.6 million tons. Both were 1% lower compared to 2023.
Rio Tinto, a top exporter of the commodity, had previously estimated annual shipments of between 323 million and 338 million tons.
The miner said it produced more bauxite than forecast, with 2024 production of 58.7 million tons up 7% year over year and topping company guidance of 53 million to 56 million tons.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
01-15-25 1702ET