Rio Tinto releases first quarter production results

Rio Tinto Limited (ASX: RIO) announced first-quarter production results as follows:

• Production of titanium dioxide slag increased by 4% to 285 thousand tonnes in the first quarter of 2022, thanks to better operations at Richards Bay Mines in South Africa and Rio Tinto Iron and Titanium Quebec Operations in Canada.
• IOC output was comparable to the preceding quarter and 5% higher than the first quarter of 2022. Due to loading constraints at the rail and port, shipments were 6% higher than in the first quarter of 2022 and 4% lower than in the previous quarter.
• The guidance for mined copper for 2023 has been reduced to 590 from 640 thousand tonnes, principally due to the effects of the Kennecott conveyor outage and the geotechnical difficulties in the open pit at Escondida.

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