Rio Tinto 1Q Australian Iron-Ore Shipments Down 8% On-Year
April 19 2022 - 7:19PM
Dow Jones News
By Rhiannon Hoyle
Rio Tinto PLC on Wednesday said it shipped less iron ore from
its Australian mines in the first quarter of 2022 as it faced
challenges progressing new developments and reserves at maturing
pits depleted.
The world's second-biggest mining company by market value said
71.5 million metric tons of iron ore was shipped from its
operations in Australia's remote Pilbara region during the three
months through March. That was down 8.0% year-on-year, and 15%
weaker than the previous quarter.
"Production in the first quarter was challenging as expected,
re-emphasizing a need to lift our operational performance," said
Chief Executive Jakob Stausholm.
The delayed ramp up of its Gudai-Darri project--where first
production is forecast for the second quarter of 2022--and
continuing commissioning challenges at the Mesa A wet plant slowed
the miner's plan to increase iron ore output at Robe Valley, it
said.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
April 19, 2022 19:04 ET (23:04 GMT)
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