Rio Tinto releases first quarter production results

MELBOURNE, Australia – Rio Tinto says that its production in the first quarter was challenging as expected, re-emphasising a need to lift our operational performance. Rio Tinto launched seven more deployments of the Rio Tinto Safe Production System, building on the achievements from the previous rollouts. As it ramps up Gudai-Darri, its iron ore business will have greater production capacity and be better placed to produce additional tonnes of Pilbara Blend in the second half.

Rio Tinto Chief Executive Jakob Stausholm, said: “We made notable progress during the quarter with the commencement of underground mining at Oyu Tolgoi following a comprehensive agreement reached with the Government of Mongolia, completed the acquisition of the Rincon lithium project in Argentina, and signed a framework agreement at the Simandou iron ore project in Guinea. These projects are all aligned with our strategy of growing in materials essential to a decarbonising world.

 “We released an independent report on our workplace culture and are implementing all 26 recommendations to make positive and lasting changes. We also announced an agreement with the Yinhawangka Aboriginal Corporation on a new co-designed management plan to ensure the protection of significant social and cultural heritage values.

“These actions will ensure we continue to deliver attractive returns to shareholders, as we invest in sustaining and growing our portfolio, be a partner and employer of choice and progress our ambition to achieve net-zero carbon emissions.”

In the first quarter, Rio Tinto entered into partnerships and progressed initiatives to accelerate decarbonising its own business and the value chains it operate. These include an agreement with the Tasmanian Government to jointly investigate how the Bell Bay smelter can help support the development of new industries, and with the US Department of Energy who have provided funding for a Rio Tinto-led team to explore carbon storage potential at the Tamarack nickel joint venture in central Minnesota.

On 8 April, Rio Tinto released Taxes Paid: Our Economic Contribution 2021, showing that we made a total direct economic contribution of $66.6 billion in the countries and communities where we operate and paid $13.3 billion of taxes and royalties.

On 24 February, Rio Tinto announced that Hinda Gharbi is stepping down as a non-executive director at the conclusion of the Rio Tinto plc AGM on 8 April 2022 to join Bureau Veritas, initially as Chief Operating Officer and transitioning in 2023 to the position of Chief Executive Officer.

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