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Rio Tinto Q4 Iron Ore Shipments Rises 2%

Anglo-Australian mining giant Rio Tinto Plc (RTNTF,RIO,RIO.L, RTPPF), Monday reported that its fourth-quarter Pilbara iron ore shipments was 88.9 million tons on 100% basis, up 2% from last year. For the full year, shipments rose 1%.

Fourth-quarter Pilbara iron ore production was 86.0 million tons on 100% basis, up 3% from the prior year. For the full year, iron ore shipments rose 1% to 330.6 million tons, while production increased 2% to 333.4 million tons from 2019.

Bauxite production for the quarter slipped 12% to 13.3 million tons. Aluminum production rose 4% to 815 thousand tons in the fourth quarter.

Fourth-quarter mined copper production slipped 4% 132.5 million tons due to lower grade at Kennecott as a result of pit sequencing.

Rio Tinto Chief Executive Jakob Stausholm said, "We have delivered a strong safety and operational performance in the face of the significant global challenges of COVID-19. Our 2020 performance reflects the resilience of the business, and the commitment and flexibility of our employees, customers, communities and host governments."

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