Australia-based miner Rio Tinto, the world's second biggest iron ore producer, has announced that in the third quarter of the current year iron ore production from its Pilbara operations in Western Australia increased by six percent year on year to 87.3 million mt, reflecting a good recovery from the operational and weather challenges experienced earlier in the year. In the given quarter, the company's iron ore shipments from its Pilbara operations amounted to 86.1 million mt, rising by five percent from the same quarter of the previous year.
In the first nine months of the year, the company’s iron ore production from its Pilbara operations totaled 243.1 million mt, decreasing by three percent while its iron ore shipments totaled 240.6 million mt, down also four percent, both year on year.
“Our increased focus on waste material movement and pit development will continue over 2019 and 2020 to improve mine performance. Our cost guidance reflects these additional mining activities. A planned rail maintenance shut was executed late in the third quarter, starting on September 25 and completed on October 6. Our cost and shipments guidance take into account the impact of this activity,” said the company.
Additionally, Rio Tinto did not change its shipments guidance for 2019 which is 320-330 million mt due to weather, and its iron ore unit cost guidance which is at 14-15$/mt.