gold stocks postpage LB desk

Rio Tinto Announces Q4 2018 Business Results – Indicates Slight Dip In Output

  • January 18, 2019 05:48 PM AEDT
  • Team Kalkine
Rio Tinto Announces Q4 2018 Business Results – Indicates Slight Dip In Output

On 18 January 2019, leading mining group, Rio Tinto Limited (ASX: RIO) announced its business results for Q4 2018.

non AMP MTF 10th feb webinar

As stated by Rio Tinto chief executive J-S Jacques: RIO displayed robust performance in Q4 2018, with notable results across copper assets. The company further aims to strengthen asset portfolio, undertake key business decisions and yield enhanced returns to shareholders in the future.

Iron Ore

  • Pilbara operations yielded 337.8 million tonnes (Rio Tinto share 281.8 million tonnes) in FY18, representing an upside of 2% over FY17, attributable to the ramp-up of mines and reduced weather shocks.
  • Q418 output of 86.6 million tonnes represents a downside of 1% over Q417.
  • Q418 sales of 87.4 million tonnes was a reduction of 3% over Q417.
  • Successful deployment of AutoHaul™, world’s first automated heavy-haul, long-distance rail network, has taken place.
  • Investment of $1.55 billion was approved at two projects to sustain production volume at the Robe River JV.
  • 2019 guidance of 338-350 million tonnes for the company’s Pilbara shipments.

Bauxite

  • Q418 output was 14% lower than Q417. FY18 output of 50.4 million tonnes was 1% lower than FY17 owing to the work at CBG in Guinea, and the operations shift from East Weipa to Queensland.
  • 2019 guidance of 56-59 million tonnes is anticipated.

Aluminium

  • FY18 output of 3.5 million tonnes was 3% lower than FY17 owing to the labour unrest at the Becancour smelter.
  • 2019 guidance of 3.2-3.4 million tonnes is anticipated.

Copper

  • Mined copper output was reported to be 37% higher and refined output 55% higher than the previous year, mainly attributable to strong performance at Escondida and increased production from Kennecott.
  • 2019 guidance of 550k-600k tonnes is anticipated.

Miscellaneous details

  • Titanium dioxide slag output of 1.1 million tonnes was 15% less than the previous year.
  • Q418 output at Iron Ore Company of Canada increased by 4% as compared to Q417.

Corporate Update

  • The company completed the sale of Grasberg mine in Indonesia for $3.5 billion, aluminium smelter at Dunkerque, France for $0.4 billion, a wharf and land in Kitimat, British Columbia for $0.6 billion and coking coal assets for $4.1 billion.
  • An agreement with China National Uranium Corporation was signed for the sale of its entire 68.62 per cent stake in Rössing Uranium, expected to be completed by 1H19.
  • $5.4 billion of shares were brought back including an off-market buy-back tender in Rio Tinto Limited shares for $2.1 billion and further on-market purchases of Rio Tinto plc shares of $3.3 billion.
  • 1H18 saw the negative impact to EBITDA resulting from raw material input price inflation, particularly in the Aluminium business, and the escalation of alumina index prices which impacted its alumina legacy contracts. These trends have continued to be observed in the second half of 2018.

Stock performance

Post the Q4 performance update, the shares of Rio Tinto closed the day’s session up by 0.31% at A$80.650. RIO stock is trading high this year offering a 4.89% return to the investors.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

 

 


Disclaimer
The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.

 

   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK