Earnings release
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Rio Tinto Rio Tinto releases fourth quarter production results 19 January 2021 Rio Tinto Chief Executive Jakob Stausholm , said : " We have delivered a strong safety and operational performance in the face of the significant global challenges of COVID - 19 . Our 2020 performance reflects the resilience of the business , and the commitment and flexibility of our employees , customers , communities and host governments . " We are working to restore trust with the Puutu Kunti Kurrama and Pinikura ( PKKP ) people . Some important progress has been made as set out in the joint statement issued in December following a meeting between the PKKP and Rio Tinto boards . We are also developing additional measures to strengthen our partnerships with Traditional Owners , including a commitment to modernise and improve agreements , particularly in the Pilbara . More broadly , we are determined to improve Rio Tinto's approach to stakeholder engagement globally by embedding a more inclusive approach that strengthens our overall thinking , decision - making and performance . However , I do not underestimate the time and effort it will take , genuinely working together with our partners , in order for Rio Tinto to drive the changes necessary to help restore trust and rebuild our reputation . " Safe and well - run operations , together with world - class assets and a strong balance sheet , leave Rio Tinto well placed to generate superior returns for shareholders , invest in sustaining and growing our portfolio , while continuing to pay taxes and royalties in our host communities and make a broader contribution to society , including employment and procurement . " Production * Pilbara iron ore shipments ( 100 % basis ) Pilbara iron ore production ( 100 % basis ) Bauxite Aluminium Mined Copper Titanium dioxide slag IOC iron ore pellets and concentrate * Rio Tinto share unless otherwise stated ● Mt Mt Mt kt kt Notice to ASX / LSE kt Mt Q4 2020 88.9 86.0 13.3 815 132.5 272 2.7 vs Q4 2019 + 2 % + 3 % -12 % + 4 % -4 % -5 % + 7 % vs Q3 2020 +8 % 0 % -8 % + 2 % + 2 % -7 % + 17 % Full Year 2020 330.6 333.4 56.1 3,180 527.9 1,120 10.4 vs Full Year 2019 + 1 % + 2 % + 2 % 0 % -9 % -7 % -1 % Q4 Operational update Our 2020 safety performance was strong , fatality - free for a second year in a row . Health and safety remains our top priority as we maintain use of the critical controls that protect our employees and the local communities with the resurgence of COVID - 19 in several regions where we operate . Our all injury frequency rate ( AIFR ) improved by more than 10 % for 2020 versus 2019 ( 0.42 ) , demonstrating our ability to adapt to changing conditions . Pilbara iron ore achieved a strong performance across the network in 2020 , despite impacts from Cyclone Damien in the first quarter and COVID - 19 disruptions which also resulted in the deferral of maintenance to the second half . Shipments of 330.6 million tonnes ( 100 % basis ) were 1 % higher than 2019 and production of 333.4 million tonnes ( 100 % basis ) , 2 % higher than 2019. This was underpinned by record total material moved , 7 % higher than the previous record in 2019 . Bauxite production of 56.1 million tonnes was 2 % higher than 2019 supported by the ramp - up of the expansion at the CBG mine in Guinea , and steady performance at the Pacific mines . Aluminium production of 3.2 million tonnes was in line with 2019 , with lower volumes from the curtailment of Line 4 at the Tiwai Point aluminium smelter in New Zealand and from the Kitimat smelter pot relining campaign , offset by the ramp - up of the Becancour smelter in Quebec . On 14 January 2021 , we announced a new electricity agreement had been reached with Meridian Energy that allows New Zealand's Aluminium Smelter ( NZAS ) to continue operating the Tiwai Point aluminium smelter until December , 2024 .