Australia-based Rio Tinto, the world's second biggest
iron ore producer, has announced that in the first half of the current year its global
iron ore production increased by 10 percent year on year to 139.5 million mt. In the given period, the company's global
iron ore shipments amounted to 142.4 million mt, up 20 percent year on year, achieving a record first half volume.
According to Rio Tinto, during the first half, shipments from the Pilbara region in Western
Australia exceeded
production as stocks built ahead of the delivery of the expanded infrastructure were drawn down, while existing mines continue to be expanded to utilize increased rail and port capacity.
In the first six months, Rio Tinto's
iron ore production from its Pilbara operations increased by 11 percent year on year to 132.4 million mt, driven by productivity improvements and the ramp-up to the 290 million mt per year run rate achieved in May, two months ahead of schedule.
Rio Tinto's Australian hard coking coal
production in the first half increased by 10 percent year on year to 3.6 million mt, largely driven by increased coal
production at the Kestrel mine, where the coal handling preparation plant had been shut for upgrade works in the first half of 2013 as part of the extension project completed later that year.
According to Rio Tinto's statement, the company expects 2014 global shipments of approximately 300 million mt. 2014 global
production guidance is unchanged at 295 million mt, subject to weather constraints. Around five million mt of
iron ore inventory is expected to be drawn down at the Pilbara mines during the year.