Rio Tinto Cuts 2020 Refined Copper Production Outlook

(RTTNews) - Rio Tinto (RTPPF.PK, RIO.L, RIO, RTNTF.PK) said that it cut its 2020 refined copper production guidance, due to a delay in restarting a smelter at its Kennecott mine in Utah.

The company said that the mine has experienced delays to the restart of the smelter due to unexpected issues that appeared following planned maintenance. The company expects to have the smelter fully operational in two months.

As a result, Rio Tinto now expects group production for refined copper in 2020 to be in the range of 135 thousand tonnes to 175 thousand tonnes compared to the prior outlook of 165 thousand tonnes to 205 thousand tonnes.