During 2013, the global iron ore production of Australia-based Rio Tinto, the world's second biggest iron ore producer, increased by five percent to 266 million mt compared to the previous year, beating its 2013 guidance of 265 million mt, as announced in the company's annual operations review. In the fourth quarter, the company's global iron ore production amounted to 70.4 million mt, up six percent year on year.
In the fourth quarter, Rio Tinto's iron ore shipments from its Pilbara operations increased by eight percent year on year to 68.8 million mt, exceeding the fourth quarter Pilbara production volume of 66.5 million mt by 2.3 million mt, despite impacts from cyclone Christine, which caused closure of ports for three days at the end of the year and affected the progressive recovery of rail and ports into January. In the full year, Pilbara iron ore shipments stood at 244.3 million mt, rising by five percent compared to 2012.
Rio Tinto's Australian hard coking coal production in the fourth quarter increased by 23 percent to 2.26 million mt, while in 2013 it declined by three percent to 7.6 million mt, both year on year.
According to Rio Tinto's statement, the safe and efficient ramp-up to 290 million mt per year nameplate capacity across mines, rail and ports remains on track for completion by the end of the first half of 2014. Rio Tinto stated that the company has exceeded its cost cutting targets for the year and has announced or completed $3.5 billion of non-core asset sales.