Australia-based Rio Tinto, the world's second biggest iron ore producer, has announced that in the fourth quarter of last year its global iron ore production increased by 10 percent year on year to 82.7 million mt. In the given quarter, the company's global iron ore shipments amounted to 91.3 million mt, up 11 percent year on year.
On the other hand, in 2015 the miner’s global iron ore production amounted to 327.6 million mt, rising by 11 percent, while its global iron ore shipments increased by 11 percent to 336.6 million mt, both year on year.
Rio Tinto's Australian hard coking coal production in 2015 increased by 11 percent year on year to 7.86 million mt.
In the Pilbara region of Western Australia, Rio Tinto’s iron ore sales in the given quarter exceeded production by 4.2 million mt, primarily drawing down on inventories at mines. This draw-down has been a key focus in 2015 with approximately nine million mt drawn down in the year. Bulk inventories built up during the infrastructure expansion phase are now largely exhausted.