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Rio Tinto Announcement

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Rio Tinto Announcement


Postby idpickering » June 18th, 2018, 7:10 am

Rio Tinto's iron ore business delivering value through additional flexibility

In a presentation to investors and analysts today in Perth, Rio Tinto will showcase its Pilbara operations, a world-class, leading-edge, fully integrated system.

The presenters will discuss how Rio Tinto's Iron Ore business will continue to deliver superior value for shareholders by developing greater flexibility across its system of mines, rail and ports in Western Australia, capable of dynamically responding to changes in market and customer demand.

Rio Tinto Iron Ore chief executive Chris Salisbury said "Our strategy is to optimise our Pilbara assets to deliver value for our shareholders. Our Iron Ore business delivered $7.3 billion of free cash flow in 2017 and we will continue to maximise free cash flow by pursuing a value-over-volume approach, built on a portfolio of world-class assets that deliver our premium iron ore product, the Pilbara Blend.

"We are driving productivity improvements right across the business and we continue to leverage considerable value from innovation and new technology. Our pioneering autonomous rail project, AutoHaul®, is on schedule to be implemented by the end of the year, and is already delivering benefits to the business through an uplift in rail capacity. ... 00036715R/

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