Rio Tinto announces third-quarter 2023 production results

Operational overview for the third quarter of 2023

The Pilbara iron ore mine's third-quarter output was 83.5 million tons (100% equity basis), down 1% from the same period in 2022. Pilbara iron ore shipments were 83.9 million tons (100% equity basis), an increase of 1% compared with the same period in 2022. We expect that shipments throughout the year will continue to remain at the high range of the original guidance target of 320 - 335 million tons.

Bauxite output was 13.9 million tons, an increase of 2% from the third quarter of 2022. This was due to the initial benefits of our stable operations, especially in the Weipa Kuangqu mining area, where equipment reliability and performance have been improved;

Mineral copper production was 169,000 tons (based on a consolidated basis), an increase of 5% from the third quarter of 2022, mainly due to the continued rise in production from the Oyu Tolgoi high-grade underground mine and the increase in feed grade from the Escondida copper mine. Part of the increase was offset by the decline in production in the Kelituo Kuangqu mine. The processing plant in the Kuangqu suffered a conveyor belt failure in March this year and gradually returned to full capacity operation in the third quarter;

The output of high-titanium slag was 247,000 tons, down 20% from the third quarter of 2022. Two furnaces at Rio Tinto's Iron and Titanium (RTIT) Quebec plant remain suspended after process safety incidents in June and July, and an investigation into the incidents is ongoing.