Rio’s Q12017 bauxite production increases despite weather challenges

<p>British-Australian metals and mining&nbsp;giant Rio Tinto today announced its bauxite production result for the&nbsp;first quarter&nbsp;of 2017. Rio Tinto chief executive J-S Jacques said that the company delivered solid production in the first quarter of 2017 even though they had to face challenging weather conditions at their West Australian and Queensland operations.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/weipa_bigpic.jpg" alt="news" width="488" height="226" /></p> <p>Rio Tinto&rsquo;s first quarter bauxite production stands at 11.3 million tonnes. This time the production is two per cent higher than the first quarter of 2016. Production reduced by seven per cent compared with the fourth quarter of 2016.</p> <p>The company shipped 6.9 million tonnes of bauxite to third parties in the first quarter of 2017, two per cent higher than the first quarter of 2016.</p> <p>{googleAdsense}</p> <p>Rio Tinto&rsquo;s share of production in 2017 is projected to be unchanged at 48 to 50 million tonnes of bauxite.</p> <p>Rio Tinto announced on 24 January 2017 that it had reached a binding agreement for the sale of Coal &amp; Allied to Yancoal Australia for up to $2.45 billion. Yancoal announced receipt of Foreign Investment Review Board (FIRB) approval on 13 April 2017.</p>