- About us
- IBJ Awards
- Free Sample
- Contact us
Rio’s Pilbara operations rake in the money
(Posted on 21/06/18)
In a presentation to investors and analysts in Perth, Rio Tinto showcased its Pilbara operations, a world-class, leading-edge, fully integrated system.
The presenters discussed how Rio Tinto’s iron ore business will continue to deliver superior value 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 $7.3bn 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.
"Removing our bottleneck in rail and increasing flexibility remain a key priority. This work is progressing well and rail and mine capacity should be in line with nameplate port capacity by the end of 2019. As we have said before, we will continue to optimise the system to provide the flexibility to respond to market conditions. However, importantly, capacity is not the same as tonnes shipped. How we use the capacity of our integrated system will be dynamic, in line with a strict value-over-volume approach.
Mr Salisbury added the company continues to benefit from changes in the Chinese steel industry. “The steel industry in China has undergone a significant shift in recent times due to supply-side reforms and environmental policy improvements. We believe these reforms are structural and that our business is well positioned to take advantage of these changes due to robust demand for our high quality products, including the Pilbara Blend.”
Rio Tinto spends over A$15.3 bn with Australian suppliers(Posted on 20/03/23)
Rio Tinto increased its spend with Australian suppliers to more than A$15.3 billion in 2022, as part... Read more
Trafigura closes the refinancing and extension of credit facilities(Posted on 20/03/23)
Trafigura Group Pte Ltd., a market leader in the global commodities industry, has announced the closing... Read more
Nexyst 360 selects Nexxiot to digitalize 5000 grain containers(Posted on 07/03/23)
Nexyst 360, an innovative grain transportation solution provider, has partnered with Nexxiot to digitalize... Read more
Cargill strengthens executive team(Posted on 28/02/23)
Cargill has announced the appointments of Joanne Knight as Chief Financial Officer (CFO) and Philippa... Read more
SACE’s Push Strategy to support supplies of commodities to Italy(Posted on 24/02/23)
Trafigura, a market leader in the global commodities industry, has entered into a USD 500 million five... Read more
Job losses loom as British steel proposes coke ovens closure(Posted on 22/02/23)
British Steel has announced proposals to close its coke ovens as part of its drive to overcome global... Read more
Rio Tinto and Marubeni to create stronger Aluminium supply chains(Posted on 20/02/23)
Global miner Rio Tinto and Japanese trader and business conglomerate Marubeni Corporation have agreed... Read more
Trafigura completes acquisition of Ecobat Stolberg multi-metals plant(Posted on 20/02/23)
Trafigura, a market leader in the global commodities industry, and Ecobat, the global leader in battery... Read more
EUROFER welcomes ITRE report(Posted on 13/02/23)
Hydrogen is at the core of the green steel transition. Ensuring access to this scarce resource &ndash... Read more
Tata Steel sets up an Innovation Centre for Mining and Mineral Research(Posted on 08/02/23)
Tata Steel has established a Centre for Innovation in Mining and Mineral Beneficiation at the Indian... Read more