Rio Tinto report reveals 'solid' start to year for Yarwun
RIO TINTO Yarwun has had a bumper start to the year, producing its highest amount of alumina in the past 12 months.
The mining giant's first quarter report showed Yarwun produced 813,000 of alumina during the first three months of the year.
Meanwhile Queensland Alumina Limited's production dropped to 711,000 - its lowest production in the past year.
Rio Tinto chief executive Jean-Sébastien Jacques said the quarterly operational performance was "solid" apart from the iron ore sector which suffered due to damage caused by tropical cyclones.
He said performance across the board was "generally higher than last year".
"Our focus remains on safety, delivering our 'value over volume' strategy and allocating capital with discipline, to continue delivering superior returns to our shareholders in the short, medium and long term," he said.
Meanwhile the report showed Boyne Smelter Limited's production remained steady between January and March, with 73,000 tonnes of aluminium produced.
The positive start to 2019 follows concerns raised in the company's 2018 annual report which said the company spent $500,000 more than planned on raw materials for the aluminium sector.
It said higher costs for raw materials (caustic soda, petroleum coke and tar pitch) and higher energy prices had a "significant impact" financially on the aluminium business.