20th Jan 2015 06:33
LONDON (Alliance News) - Rio Tinto PLC said Tuesday that its global iron ore shipments rose 17% to 302.6 million tonnes in the fourth quarter of 2014, while total production hit 295.4 million tonnes, up 11% year-on-year.
Rio Tinto's share of production in the period was 12% higher than in 2013. Of the global iron ore shipments, the group's share totalled 239.9 million tonnes, while its share of the total production volume was 233.6 million tonnes.
The company noted that mined copper production for the year was 4% higher than last year, driven by the sustained ramp-up at its Oyu Tolgoi mine in Mongolia. This ramp-up, along with higher grades at both Oyu Tolgoi and Kennecott in the US, resulted in a 69% increase in mined gold production over 2013.
Global bauxite production was temporarily reduced by 3% in 2014 as its Gove mine in Australia transitions to bauxite exports following the curtailment of the refinery in May 2014.
Aluminium production in 2014 was broadly in line with 2013, despite the closure of the Shawinigan site in Canada in November 2013 and the partial shutdown at Kitimat, also in Canada, which continues to prepare for full commissioning of the modernised smelter during the first half of 2015. Eight smelters, representing 54% of 2014 production volumes, achieved annual production records, Rio said.
Copyright RTT News/dpa-AFX
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