UK-Australian mining firm Rio Tinto expects to come in at the bottom of its 320mn-335mn t guidance for 2022, after shipping 82.92mn t on a 100pc basis from its Western Australian (WA) operations during July-September.
The firm has a target of 85.71mn t for October-December to hit the bottom of its 2022 guidance, which is more than the 84.1mn t it shipped in October-December 2021 but not as much as the 88.87mn t in October-December 2020. July-September shipments were 1pc lower than the same period last year but 4pc higher than April-June. Australia is facing an early above average cyclone season, which could disrupt shipments late in October-December.
The ramp-up of the 43mn t/yr Gudai-Darri mine added to a 7pc increase in production compared with April-June but two derailments cut exports. Rio Tinto continues to investigate the 3 September Gudai-Darri derailment. The mine is expected to reach full capacity by the end of this year.
Retrieved from:
https://www.argusmedia.com/en/news/2381486-rio-tinto-aims-for-bottom-of-2022-iron-ore-target?backToResults=true