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Rio Tinto Releases Fourth Quarter Production Results

19 Jan 2021  |  08:36:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Rio Tinto releases fourth quarter production results

Rio Tinto released fourth quarter production results. Pre-tax and pre-divestment expenditure on exploration and evaluation charged to the profit and loss account for 2020 was $625m, compared with $624m in 2019. 42% of this expenditure was incurred by central exploration, 40% by Copper & Diamonds, 9% by Energy & Minerals and 9% by Iron Ore. Mined copper production was 1% lower than 2019, mainly due to 15% lower material stacked into the leaching pads as a result of preventive measures in response to COVID-19, which was offset by 5% higher concentrator throughput in 2020. Refined copper was also impacted by lower material stacked into the leach pads.

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