BASE METALS

Rio cuts copper guidance

Kennecott to blame for lower expected production

Staff reporter

This article is 5 years old. Images might not display.

Group 2020 copper production has been cut to 135,000-175,000 tonnes from 165,000-205,000t.

Rio expects C1 copper unit costs of $1.20-1.35 per pound.

The company experienced delays to the restart of the Kennecott smelter due to unexpected issues that appeared following planned maintenance.

Repairs to the flash converting furnace were aligned to the planned 45-day smelter shutdown.

In March, Kennecott was impacted by a 5.7 magnitude earthquake, which led to a $100 million charge in Rio's half-year results and a $12 million net loss for the asset.

Rio said it was working closely with its customers to limit any disruptions and expects to have the smelter fully operational in two months.

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

editions

Investor Sentiment Insights 2026

Discover what investors have planned for mining in 2026 in our industry-leading survey

editions

World Risk Insights 2025 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 120 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

ESG Index 2025: Benchmarking the Future of Sustainable Mining

The ESG Index provides an in-depth evaluation of the ESG performance of 60+ of the world’s largest mining companies. It assesses companies across 10 weighted indicators within 6 essential ESG pillars.

editions

Leadership Insights 2025

Leadership Insights reveals key trends in priority mining issues through interviews with 15+ top mining company executives and an industrywide survey.