(Jan 21): Rio Tinto Group’s copper production climbed 5% in the fourth quarter thanks to the expansion of underground operations at Oyu Tolgoi in Mongolia, while its core Pilbara iron ore mines hit a record in the last three months of the year. Rio has until Feb 5 to announce a firm intention to bid or walk away. Rio’s Australian-listed shares climbed on the numbers, trading up as much as 2.47% in late morning trading in Sydney. Among Rio’s other commodities, aluminum production was 2% higher, while lithium output achieved a record thanks to Argentina. “Implementation of our stronger, sharper, simpler way of working continues, and is delivering results and creating value,” Trott said in a statement on Wednesday.
