Australia-based miner Rio Tinto, the world’s second biggest iron ore producer, has announced that in the first quarter of this year iron ore production from its Pilbara operations in Western Australia decreased by 15 percent quarter on quarter and decreased by six percent year on year to 71.7 million mt. In the given quarter, the company’s iron ore shipments from its Pilbara operations amounted to 71.5 million mt, falling by eight percent from the same quarter of the previous year and down by 15 percent compared to the fourth quarter last year.
The company stated that it made notable progress in the first quarter with the commencement of underground mining at Oyu Tolgoi following a comprehensive agreement reached with the government of Mongolia. Rio Tinto also signed a framework agreement for the Simandou iron ore project in Guinea.
Rio Tinto expects increased production volumes in the second half, with the commissioning and ramp-up of Gudai-Darri. The company’s Pilbara iron ore shipment guidance for 2022 remains unchanged at 320-335 million mt.