Rio Tinto 2Q Australian Iron-Ore Shipments Slide by 12%

   By Rhiannon Hoyle

SYDNEY--Rio Tinto PLC said it shipped 12% less iron ore from its Australian mining hub during the second quarter of 2021 compared to a year earlier, and that it expects annual exports to be at the low end of an earlier estimate after facing above-average rainfall, operational shutdowns and labor shortages due to Covid-19 restrictions.

The world's second-largest miner by market value said it shipped 76.3 million metric tons of iron ore from Australia's Pilbara region in the three months through June, taking first-half shipments to 154.1 million tons.

Rio Tinto said it now expects 2021 shipments to be at the low end of its earlier 325 million to 340 million ton guidance range. It also raised its expectations for full-year production costs.

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

(END) Dow Jones Newswires

July 15, 2021 19:08 ET (23:08 GMT)

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