(CercleFinance.com) – Rio Tinto is today publishing its production data for the 1st quarter of 2022. Shipments of iron ore from Pilbara fell by 8% compared to the 1st quarter of 2021 and amounted to 71.5 Mt (million tons).
The production of this iron ore in Pilbara has also fallen by 6% compared to the 1st quarter of 2021, to 71.7 Mt. At the same time, aluminum production has fallen by 8%, as has the production of dioxide. of titanium (-2% at 273 kt).
On the other hand, Bauxite production remained stable, at 13.6 Mt and copper ore production increased by 4%, to 125 kt, as did iron ore pellets and concentrates production (+3%, to 2.4 Mt) .
In addition, Rio Tinto Chief Executive Jakob Stausholm hailed ‘the start of underground mining at Oyu Tolgoi (Mongolia), as well as the acquisition of the Rincon lithium project in Argentina and the signing of a framework agreement for the Simandou iron ore project in Guinea’.
For his part, the analyst Oddo wants to be cautious and signals headwinds linked to sustained inflation, the outbreak of the Russian-Ukrainian war and the blockages in China due to the resurgence of the pandemic.
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