19 APRIL 2016Rio Tinto Press Release
Rio Tinto releases robust Q1 results: Aluminium production touches 887kt
Edited by : AL CIRCLE
1 min read
Rio Tinto released robust production results for first quarter of FY2016. Despite global slump in aluminium prices, the mining and metal major posted a significant ten per cent increase in aluminium production year-on-year for the period under review.
Kitmat completed its ramp-up to an annualised rate of 420 thousand tonnes in March 2016.
Production across the Saguenay smelter system increased by four per cent compared with the first quarter of 2015 as a result of ongoing productivity improvements.
2016 guidance
Rio Tinto's expected share of production of aluminium remains unchanged at 3.6 million tonnes for 2016.
Rio Tinto chief executive Sam Walsh said “These results demonstrate our commitment to operational excellence in 2016, with notable improvements in several important areas, including a strong performance in Aluminium. However, we continue to experience volatility in commodity prices across all markets. In the face of a testing external environment, our focus remains on delivering further cost and productivity improvements, disciplined capital management and maximising free cash flow, to ensure that Rio Tinto remains strong.”
Kitmat completed its ramp-up to an annualised rate of 420 thousand tonnes in March 2016.
Production across the Saguenay smelter system increased by four per cent compared with the first quarter of 2015 as a result of ongoing productivity improvements.
2016 guidance
Rio Tinto's expected share of production of aluminium remains unchanged at 3.6 million tonnes for 2016.
Rio Tinto chief executive Sam Walsh said “These results demonstrate our commitment to operational excellence in 2016, with notable improvements in several important areas, including a strong performance in Aluminium. However, we continue to experience volatility in commodity prices across all markets. In the face of a testing external environment, our focus remains on delivering further cost and productivity improvements, disciplined capital management and maximising free cash flow, to ensure that Rio Tinto remains strong.”
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