PERTH – Diversified miner Rio Tinto has set out its production growth and decarbonisation targets in an investor seminar.
“Meeting the incremental demand of the energy transition and ensuring local supplies of critical minerals globally deepens our relevance in the world and provides new opportunities.
New long-term power contracts will also be required for the aluminium business to meet targets. Incremental operating expenditure on building new teams and energy efficiency initiatives remains around $200-million a year, in addition to research and development investment. Meanwhile, the company has also set a production guidance for 2023, noting that Pilbara iron-ore shipments of 320-million to 335-million tonnes are expected in 2023, with mid-term capacity remaining at 345-million to 360-million tonnes.