Results17 Jan 2022 23:50
MELBOURNE, Australia--(BUSINESS WIRE)-- Rio Tinto Chief Executive Jakob Stausholm said: “In 2021 we continued to experience strong demand for our products while operating conditions remained challenging, including due to prolonged COVID-19 disruptions. Despite this, we progressed a number of our projects, including the Pilbara replacement mines, underlining the resilience of the business and the commitment and flexibility of our people, communities and host governments. We are seeing some initial positive results from the implementation of the Rio Tinto Safe Production System, which we will significantly ramp up in 2022, as we continue to work hard to improve our operational performance to become the best operator.
“In the fourth quarter we set a new direction for the company and announced a number of partnerships focused on decarbonising the value chain for our products, including green steel. We also entered into a binding agreement to acquire the Rincon lithium project in Argentina, which is strongly aligned with our strategy. These actions will ensure we continue to deliver attractive returns to shareholders, invest in sustaining and growing our portfolio, and progress our ambition to net-zero carbon emissions."
Production*
Quarter 4
2021
vs Q4
2020
vs Q3
2021
Full Year
2021
vs FY
2020
Pilbara iron ore shipments (100% basis) (Mt)
84.1
-5%
+1%
321.6
-3%
Pilbara iron ore production (100% basis) (Mt)
84.1
-2%
+1%
319.7
-4%
Bauxite (Mt)
13.1
-2%
-6%
54.3
-3%
Aluminium (kt)
757
-7%
-2%
3,151
-1%
Mined Copper (kt)
132
0%
+6%
494
-7%
Titanium dioxide **** (kt)
228
-16%
+9%
1,014
-9%
IOC iron ore pellets & concentrate (Mt)
2.5
-9%
+15%
9.7
-6%
*Rio Tinto share unless otherwise stated
2021 operational highlights and other key announcements
The safety and well-being of our employees and contractors remains our priority. Fatigue, labour shortages and other pressures from COVID-19 have heightened the safety risk in day-to-day operations and remind us that there is no room for complacency. We experienced our third consecutive year with no fatalities at our managed operations. We are working hard with our partners to achieve the same results at our non-managed assets and marine operations.
Pilbara iron ore production of 319.7 million tonnes (100% basis) was 4% lower than 2020. This is due to above average rainfall in the first half of the year, cultural heritage management and delays in growth and brownfield mine replacement tie-in projects. Pilbara shipments in 2021 were 321.6 million tonnes (100% basis), 3% lower than 2020, and included elevated levels of SP10 product as a result of delays in growth and brownfield mine replacement tie-in projects.
Bauxite production of 54.3 million tonnes was 3% lower than 2020 due to severe wet weather in the first quarter impacting system stability throughout the year, equipment reliability issues and overruns on planned shutdowns at our Pacific oper