Rio Tinto iron ore shipments fall as cyclones hit Pilbara operations
11 Articles
11 Articles
Rio Tinto iron ore shipments fall as cyclones hit Pilbara operations
(Reuters) – Rio Tinto reported a 9% drop in first-quarter iron ore shipments on Wednesday, with 2025 Pilbara shipments now expected at the lower end of guidance after tropical cyclones battered Australia’s west coast and disrupted operations. The series of tropical cyclones in the first quarter had snarled activities at the Dampier port in the Pilbara region and affected Rio Tinto’s shipments. The company had earlier warned of total losses of 13…
Rio Tinto, the second largest mining company in the world by market value, said it expects that iron ore shipments from its mining operations in Australia are likely to be at the lower limit of the projection in 2025. Among the main factors are the losses suffered by extreme weather events in the first quarter of this year, according to a note released on Tuesday (15).
Extreme weather hits Rio bottom line
Allen Newton EXTREME weather has taken its toll on Rio Tinto’s Pilbara iron ore operations. In a notice to the Australian Stock Exchange, Rio Tinto chief executive Jakob Stausholm said the company’s overall performance had been solid despite the Pilbara iron ore shipments expected to be at the lower end of guidance. The seaborne supply of iron ore contracted by 3% year on year and into China fell 9% year on year because of extreme weather both i…
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