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Stock impact report

Rio Tinto: Solid results underpinned by +8% CuEq production and sharper cost discipline

Rio Tinto Plc (RIO) 
US:NYSE Investor Relations: riotinto.com/investors-87.aspx
Company Research Source: Business Wire
LONDON--(BUSINESS WIRE)--Rio Tinto Chief Executive Simon Trott said: "Safety remains our highest priority. We are deeply committed to learning from the tragic death of one of our colleagues at the Simandou project last weekend and I will be spending time with the team on the ground, as we fully investigate how this happened."Our solid financial results demonstrate clear progress as we embed our stronger, sharper and simpler way of working. We achieved an 8% uplift in CuEq production1 driven by the ongoing ramp-up of the Oyu Tolgoi underground copper mine and record iron ore production since April from our Pilbara operations. This strong operational performance, together with a diversifying portfolio and firm cost discipline, underpinned a 9% increase in underlying EBITDA to $25.4 billion and operating cash flow of $16.8 billion. We delivered stable underlying earnings of $10.9 billion, after taxes and government royalties of $10.4 billion2."We continue to invest in delivering indu Show less Read more
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