Australia-based miner Rio Tinto has announced its production results for the third quarter and the first nine months of the current year.
In the third quarter of the current year, the company’s iron ore production from its Pilbara operations in Western Australia increased by one percent year on year and by seven percent quarter on quarter to 84.3 million mt. In the given quarter, the company’s iron ore shipments from its Pilbara operations amounted to 82.9 million mt, decreasing by one percent from the same quarter of the previous year, and increasing by four percent compared to the second quarter, despite two unplanned rail outages on the Yandicoogina and Gudai-Darri lines.
In the first nine months of the year, Rio Tinto’s iron ore production from its Pilbara operations remained stable year on year to 234.7 million mt, while its iron ore shipments in the same period totaled 234.3 million mt, falling by one percent compared to the corresponding period of the previous year.
Rio Tinto’s Pilbara iron ore shipment guidance for 2022 is at the lower end of the 320-335 million mt range in the previous guidance.
Meanwhile, Rio Tinto and Australia-based Wright Prospecting Pty Ltd have agreed to modernise the joint venture covering the Rhodes Ridge iron ore project in the East Pilbara. The companies plan to develop a plant with an annual capacity of up to 40 million mt before 2030. Rhodes Ridge contains 5.8 billion mt of high-grade Mineral Resources at an average grade of 62.3 percent Fe. A resource drilling program is currently underway to support future project studies.