Rio Tinto surprises with steady operations in 2024 after facing fire outbreak & energy crisis; technology and collaboration played a key role

Rio Tinto, a leading global mining group focused on finding, mining and processing the Earth's mineral resources, has wrapped up another year with impressive operation growth, as highlighted by its CY2024 results. From production volume to energy efficiency or safety measures, the company has demonstrated tangible improvements across all areas.

Production overview

In the full year 2024, Rio Tinto's bauxite production summed up at 58.7 million tonnes, reflecting a 7.5 per cent year-on-year rise from 54.6 million tonnes in 2023, following an annual increase of 2 per cent in the final quarter (Q4) output to 15.4 million tonnes, attributed to the implementation of the Safe Production System, delivering record annual production at Amrun and Gove. The company's aluminium production also grew in 2024, amounting to 3.296 million tonnes. However, growth was only by 1 per cent, offset by back-to-back declines in Q3 and Q4 aluminium output. In Q3, Rio's aluminium production was down by 2 per cent Y-o-Y to 809,000 tonnes, and in Q4, the output was 1 per cent less, standing at 837,000 tonnes.

Until the first half of 2024, Rio Tinto's bauxite production was 28.1 million tonnes; hence, the output in H2 was 30.6 million tonnes, marking a growth of 9 per cent. On the contrary, the company's aluminium production in H2 stood slightly down from H1, at 1.646 million tonnes versus 1.65 million tonnes.