Rio makes remarkable turnaround in aluminium production

A lot of remarkable figures and things have been noticed in 2013 results of Rio Tinto. The company made a profit of $US10.2 billion beat market consensus comfortably. The turnaround in aluminium business was the most remarkable thing. The breakdown of the company’s profit in 2013 shows their net earnings from aluminium have gone up from miserable $US54m in the year 2012 to $US557m.

This could be achieved as a result of the production cutback strategies that Rio as well as the other industry leaders has adapted.

Rio has worked very hard at cutting down costs. The company reckons that earnings on aluminium increased by $US392m from their cash cost improvements. It has been quite painful for the company to bring the aluminium figures back to shape, with Rio selling, closing or curtailing five of their aluminium assets in 2013.

The most painful decision was to suspend production of alumina at the Northern Territory’s Gove bauxite/alumina operations. Rio had cut down on many things to finally earn good profits from aluminium production.

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