Australia-based miner Rio Tinto has announced its production results for the second quarter and first half this year.
In the second quarter of the current year, the company’s iron ore production from its Pilbara operations in Western Australia decreased by two percent year on year and rose by two percent quarter on quarter to 79.5 million mt. In the given quarter, the company’s iron ore shipments from its Pilbara operations amounted to 80.3 million mt, rising by two percent year on year and up by three percent compared to the previous quarter, with the draw-down of port stocks.
In the first half of the year, Rio Tinto’s iron ore production from its Pilbara operations decreased by two percent year on year to 157.4 million mt, while its iron ore shipments in the same period totaled 158.3 million mt, falling by two percent compared to the corresponding period of the previous year.
Rio Tinto’s Pilbara iron ore shipments in 2024 are expected to be in the range of 323-338 million mt, subject to weather impacts. The company noted that the construction of the Simandou high grade iron ore project in Guinea is advancing at pace.