Australia-based miner Rio Tinto has announced its production results for the fourth quarter and the full year of 2024.
In the given quarter, the company’s iron ore production from its Pilbara operations in Western Australia decreased by one percent year on year and was up by three percent quarter on quarter to 86.5 million mt. In the given quarter, the company’s iron ore shipments from its Pilbara operations amounted to 85.7 million mt, declining by one percent year on year and up by one percent compared to the previous quarter.
In 2024, Rio Tinto’s iron ore production from its Pilbara operations came to 328.0 million mt, moving down by one percent compared to the previous year, while its iron ore shipments from the same operations decreased by one percent year on year to 328.6 million mt.
The company expects its iron ore shipments from Pilbara to remain stable at 323-338 million mt in 2025.
The company reported that the SimFer mine of its Simandou iron ore project in Guinea is on track to start production within 2025. The production in the mine will ramp up over 30 months to an annual capacity of 60 million mt of iron ore production.