[ferro-alloys.com]Diversified miner Rio Tinto has cut its 2020 copper production guidance due to COVID-19 disruptions, and moved titanium dioxide slag forecast to the lower end of previous expectations while maintaining its forecasts for other non-ferrous metals.

Rio lowered the 2020 guidance for its share of mined copper from assets to 475,000-520,000 mt from 530,000-570,000 mt. And, refined copper production forecast was dropped to 165,000-205,000 mt from 205,000-325,000 mt expected earlier, the miner said Friday in its quarterly report.

The Chilean Escondida operation could see a potential reduction in second-half output due to measures brought in response to COVID-19, while an earthquake that hit the US Kennecott mine has also impacted production.

Rio is working to resume normal operations following the March 18 5.7 magnitude earthquake. While the mine has resumed stable operations, a full furnace rebuild is required for the Kennecott smelter, the company said.

Rio's share of Escondida production in the January-March quarter was 86,200 mt mined, up 13% year on year, but down 7% quarter on quarter, and 20,900 mt refined, up 12% year on year and up 2% quarter on quarter. From Kennecott, it saw mined and refined production at 35,000 mt, which was down 33% year on year and down 1% quarter on quarter, and at 26,400 mt, down 11% year on year and down 49% quarter on quarter, respectively.

The miner's titanium dioxide slag production is now expected in the lower end of the 1.2 million-1.4 million mt guidance because of COVID-19 restrictions by the governments in Quebec and South Africa, Rio said.

The company's share of titanium dioxide slag production in the march quarter was at 293,000 mt, down 1% year on year and up 3% from the October-December 2019 period, it said.

Aluminum, alumina and bauxite production guidance ranges were left unchanged at 3.1 million-3.3 million mt, 7.8 million-8.2 million mt, and 55 million-58 million mt, respectively.

Rio's share of production from its aluminum assets was at 783,000 mt during the March quarter, down 2% year on year and level with the December 2019 quarter.

The year-on-year fall was primarily due to lower production at the Icelandic ISAL and Canadian Kitimat smelters. Rio has recently announced strategic reviews for its interests in the New Zealand Tiwai Point smelter and the ISAL smelter.

RBC Capital Markets said in a research note Friday that it expects Rio to close both these smelters this year.

Rio's share of alumina production was at 2.01 million mt in January-March, level year on year and down just 1% from the December quarter. Bauxite production rose 8% from the same quarter last year but fell 9% from the December quarter at 13.81 million mt in January-March.

(S&P Global Platts)

• [Editor:王可]