The CEO of Rio Tinto said that the company had delivered a solid operational performance in the last quarter of 2018.
Rio Tinto (ASX:RIO,LSE:RIO,NYSE:RIO) has released its fourth quarter production results for 2018, and also provided an operational update across its portfolio.
CEO of Rio, J-S Jacques said that the company had delivered a solid operational performance in the last quarter of 2018, with the deployment of its autonomous train system, as well as investments in its Koodaideri and Robe River replacement mine projects.
“Meanwhile, we completed disposals of $8.6 billion, including the Grasberg mine in Indonesia and our remaining coal assets. With a firm ‘value over volume’ focus and disciplined allocation of capital, we will continue to progress our strategic objectives and to deliver superior returns to shareholders in the short, medium and long term.”
Iron ore production in the Pilbara was up 3 percent in Q4 at 86 million tonnes compared to Q3 2018. Total iron ore production for 2018 clocked in at 337.8 million tonnes – 2 percent over 2017 output.