Robust fourth-quarter production helped Rio Tinto, the Anglo-Australian diversified mining group hit its output targets across all of its major products.
The company reported a record quarter for iron ore production from its Pilbara assets in Western Australia in which it shipped 90 million tonnes of iron ore - 3% higher than in the same quarter of 2016.
Rio Tinto met its annual target of 330 million tonnes of iron ore shipments over the year - up 1% from the previous year.
Production of bauxite, the aluminium ore, rose 6% over the year, but output of refined aluminium fell 1% to 3.551 million tonnes, however this remained in line with targets.
Copper production, meanwhile, fell 9% during the year to 478,100 tonnes, which Rio Tinto said was primarily due to the impact of a 43-day strike at its Escondida facility in the first quarter. Production was in line with revised guidance.
Chief executive J-S Jacques said: "The business performed well in the fourth quarter, and we finished the year in line with guidance across all major products.
"In 2017 we announced over $8 billion of cash returns to shareholders and continued to reshape the portfolio.
"Our focus on value over volume and mine-to-market productivity, along with disciplined allocation of cash, will ensure that we continue to deliver superior shareholder returns in the short, medium and the long term."
Rio raised its targets for 2018 in nearly all products, including a forecast of annual copper production of between 510-610 thousand tonnes.
The miner said it expected to produce between 3.5-3.7 million tonnes of aluminium in 2018.