Rio Tinto’s iron ore shipments down in first quarter

Wednesday, 17 April 2024 14:49:23 (GMT+3)   |   Istanbul
       

Australia-based miner Rio Tinto has announced its production results for the first quarter this year.

In the first quarter, Rio Tinto’s iron ore production from its Pilbara operations in Western Australia decreased by 10.9 percent quarter on quarter and by 1.7 percent year on year to 77.9 million mt.

In the given quarter, the company’s iron ore shipments from its Pilbara operations amounted to 78.0 million mt, decreasing by 5.5 percent from the same quarter of the previous year and down by 9.5 percent compared to the fourth quarter last year.

The company stated that the lower volumes were caused primarily by weather disruption at ports, which also affected production at mines. Compared to the first quarter in 2023, planned ore depletion, predominantly at Yandicoogina, was partially offset by productivity gains across other operations.

Rio Tinto’s Pilbara iron ore shipment guidance for 2024 stands at 323-338 million mt, subject to weather and market conditions.


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