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Australian Shares Flat; Rio Tinto Posts Higher Q1 Copper Equivalent, Iron Ore Production

-- Australian shares ended flat on Tuesday, while most Asian markets saw gains after reports of further negotiations between the US and Iran.

The S&P/ASX 200 Index was little changed to close at 8,949.40.

Iran is considering attending peace negotiations with the US in Pakistan, while Islamabad attempts to end a US blockade on Iranian ports, which is seen as a key obstacle to Tehran's participation, before a two-week ceasefire expires.

On Monday, the Nasdaq Composite fell 0.3%, the S&P lost 0.2%, while the Dow Jones remained little changed.

On the domestic front, the ANZ-Roy Morgan Australian consumer confidence fell 0.2 points to 64.3 in the week of April 13 to 19, ANZ reported.

In company news, Rio Tinto Group (ASX:RIO) on Tuesday reported a 9% year-over-year increase in copper equivalent production in the first quarter, while global iron ore production jumped 12% to 82.8 million tonnes.

Lynas Rare Earths (ASX:LYC) said its fiscal third-quarter gross sales revenue increased to AU$265 million from AU$123 million a year earlier, while sales receipts advanced to AU$234 million from AU$124.6 million.

Lastly, Qantas Airways (ASX:QAN) launched a week-long sale on fares across 90 routes on the airline's domestic and regional network, including both the economy and business categories, with travel available through March 2027.

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