Pilbara operations produced 329.8 million tonnes (Rio Tinto share 271.3 million tonnes) in 2017. Fourth quarter production of 87.9 million tonnes (Rio Tinto share 72.9 million tonnes) was three per cent higher than the fourth quarter of 2016, reflecting the implementation of productivity projects across most sites. This strong performance was achieved despite a planned two week shutdown at Hope Downs 4 in December 2017, in line with the focus on value over volume.
Sales of 330.1 million tonnes (Rio Tinto share 272.0 million tonnes) were in line with 2016 sales. Strong fourth quarter sales of 90.0 million tonnes (Rio Tinto share 74.8 million tonnes) were three per cent higher than the fourth quarter of 2016, reflecting ongoing productivity improvements being made to the rail network, along with increased flexibility across the infrastructure system.
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David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
