Australia-based Rio Tinto, the world's second biggest iron ore producer, has announced that in the first quarter of this year its global iron ore production increased by 13 percent year on year to 84 million mt. In the given quarter, the company's global iron ore shipments amounted to 80.8 million mt, up 11 percent year on year, due to the completion of some brownfield developments and expanded infrastructure capacity in the Pilbara region of Western Australia in 2015.
Rio Tinto's Australian hard coking coal production in the first quarter decreased by one percent year on year to 1.98 million mt. The company forecasts production of 7-8 million mt of hard coking coal in the current year.
In the Pilbara region, Rio Tinto’s iron ore sales in the given quarter were three million mt below production, due to seasonal restocking and weather disruptions from tropical cyclone.
Meanwhile, on April 15, Rio Tinto announced the extension of the Channar Mining joint venture with Chinese company Sinosteel Corporation. This extension, together with a separate agreement for Rio Tinto to supply iron ore from the Pilbara, will enable sales of up to 70 million mt of iron ore to Sinosteel Corporation over the next five years.