Rio Tinto’s Q3 2018 aluminium production drops on lock-out at Becancour smelter
Rio Tinto reported a slight drop in aluminium production in third quarter in Q3 2018. Aluminium production was one per cent lower than the corresponding period of 2017, due to an ongoing lock-out at the non-managed Becancour smelter, which began on 11 January 2018.
Aluminium production stood at 0.9 million tonnes. Excluding this impact, aluminium production for the third quarter was two per cent higher than the same period of 2017, reflecting continued productivity creep.
Rio Tinto chief executive J-S Jacques said “We have delivered consistent operational performance in the third quarter, highlighted by strong production from the Group’s copper assets. We continue to pursue all opportunities to improve productivity and drive enhanced cash flow generation. This, combined with the disciplined allocation of capital, will ensure we continue to deliver superior returns to our shareholders in the short, medium and long-term.”
Aluminium guidance is revised to between 3.4 and 3.5 million tonnes (previously 3.5 to 3.7 million tonnes). This excludes any potential adjustment from the completion of the sale of the Aluminium Dunkerque smelter.
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