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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Rio Tinto    RIO   GB0007188757

RIO TINTO (RIO)
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Rio Tinto : achieves first delivery of iron ore with world’s largest robot

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07/13/2018 | 12:45am CEST
Rio Tinto has achieved a significant milestone with the first delivery of iron ore by an autonomous train in the Pilbara, Western Australia.

The autonomous train, consisting of three locomotives and carrying around 28,000 tonnes of iron ore, travelled over 280 kilometres from Rio Tinto's mining operations in Tom Price to the port of Cape Lambert on 10 July. It was monitored remotely by operators from Rio Tinto's Operations Centre in Perth more than 1,500 kilometres away.

The inaugural journey is a significant milestone for Rio Tinto's AutoHaul programme and follows regulatory approval in May. AutoHaul is on schedule to complete by the end of the year, unlocking significant safety and productivity gains for the business, as well as optimising the company's iron ore system by providing more flexibility and reducing bottlenecks.

Rio Tinto Iron Ore managing director Rail, Port & Core Services Ivan Vella said 'The safe first delivery of iron ore by an autonomous train is a key milestone for AutoHaul. The programme will deliver the world's first fully autonomous, long-distance, heavy-haul rail network, operating the world's largest and longest robots.

'This programme symbolises both the pioneering spirit and innovative talents of many people across Rio Tinto and shows our absolute commitment to improving safety and productivity, as well as enabling greater flexibility across our operations.

'We will continue to ensure our autonomous trains operate safely under the wide range of conditions we experience in the Pilbara, where we record more than eight million kilometres of train travel each year.

'We are working closely with drivers during this transition period as we prepare our employees for new ways of working as a result of automation.'

Notes to editors

The $940 million AutoHaul programme is focused on automating trains transporting iron ore to Rio Tinto's port facilities in the Pilbara region of Western Australia. Once commissioned, the network will be the world's first heavy haul, long distance autonomous rail operation. Rio Tinto operates about 200 locomotives on more than 1,700 kilometres of track in the Pilbara, transporting ore from 16 mines to four port terminals.

The average return distance of these trains is about 800 kilometres with the average journey cycle, including loading and dumping, taking about 40 hours. Locomotives carrying AutoHaul software are fitted with on-board cameras allowing for constant monitoring from the Operations Centre. All public rail crossings on the network are fitted with CCTV cameras and have been upgraded to the highest safety standards.

Disclaimer

Rio Tinto plc published this content on 13 July 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 12 July 2018 22:44:07 UTC

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Financials ($)
Sales 2018 40 102 M
EBIT 2018 13 325 M
Net income 2018 8 298 M
Debt 2018 2 940 M
Yield 2018 5,84%
P/E ratio 2018 10,37
P/E ratio 2019 11,91
EV / Sales 2018 2,44x
EV / Sales 2019 2,52x
Capitalization 94 929 M
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Technical analysis trends RIO TINTO
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 58,9 $
Spread / Average Target 9,8%
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Managers
NameTitle
Jean-Sébastien Jacques Chief Executive Officer & Executive Director
Simon Robert Thompson Chairman
Christopher J. Lynch Chief Financial Officer & Executive Director
Ann Frances Godbehere Independent Non-Executive Director
Michael Gerard L'Estrange Independent Non-Executive Director
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RIO TINTO3.68%94 109
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ANGLO AMERICAN3.25%29 648
FREEPORT-MCMORAN-16.93%22 890