Rio Tinto - First Quarter 2012 Operations Review | Mining University

Rio Tinto - First Quarter 2012 Operations Review

Rio Tinto recently published the First Quarter 2012 Operations Review.  The review shows increased production in most commodities compared to Q1 2011.  In addition, Rio Tinto also plans to increase its share in Richards Bay Minerals by purchasing the 37 percent stake held by BHP Billiton.  Rio also completed a buyback of 116.9 million shares of stock.

Downside reports come from Kennecott Utah Copper where copper production was down due to lower grades.  The low grade areas were expected but lower is still lower.  Rio Tinto also is looking into selling its diamond mining business including the Diavik Diamond Mine in Northwest Territories Canada.  

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