Rio Tinto breaks iron ore records
Rio Tinto has announced the company set new quarterly records for iron ore sales and hard coking coal production.
“We are operating at full capacity, selling all we produce and our growth programme is on track, supported by the strength of our balance sheet,” Chief Executive Officer Tom Albanese said.
Recent figures released by Rio show that iron ore sales from its Pilbara operations set a new quarterly record as the ports and rail recovered strongly from the inclement weather experienced earlier in the year.
Coal production from the Queensland and New South Wales coal mines rebounded from the severe rains in the first half of the year. Finding that:
- Australian hard coking coal production set a new quarterly record and was 14 per cent higher than third quarter of 2010 and 55 per cent higher than the second quarter
- Other production from the Australian coal operations favoured semi-soft coal which was 57 per cent higher than the third quarter of 2010 with thermal coal three per cent lower.
Rio Tinto has also announced plans to sell off its aluminium assets, including smelters and refineries in the Northern Territory, New South Wales, Queensland and Tasmania, although CEO Tom Albanese has indicated that such a sale may not occur until the global economic conditions improve.