Australia-based Rio Tinto, the world's second biggest iron ore producer, has announced that in the third quarter of the current year its global iron ore production increased by 2.4 percent year on year to 88.1 million mt. In the given quarter, the company's global iron ore shipments amounted to 85.6 million mt, down 6.2 percent year on year.
On the other hand, during the first nine months of the year, the miner’s global iron ore production amounted to 257.4 million mt, rising by seven percent, while its global iron ore shipments increased by 3.2 percent to 253.2 million mt, both year on year.
Rio Tinto's Australian hard coking coal production in the third quarter increased by 17 percent year on year to 2.17 million mt, while its hard coking coal production in the first nine months remained stable year on year at 6 million mt.
In the Pilbara region of Western Australia, iron ore sales in the first nine months totaled 239.9 million mt, up three percent from the same period of 2015 and iron ore production in the same period increased by seven percent year on year to 243.9 million mt.
Rio Tinto’s 2016 global iron ore shipments guidance has been revised to between 325 million mt and 330 million mt, subject to weather conditions. 2017 production guidance remains at between 330 million mt and 340 million mt, subject to final productivity and capital expenditure plans.