Rio Tinto Limited
(ASX:RIO) is forecasting global iron ore production in 2016 to be around 350 million tonnes.
Global iron ore shipments were in line with 2015 full year guidance of around 340 million tonnes.
Rio Tinto chief Executive Sam Walsh labelled the period a challenging market backdrop for the industry.
Mr Walsh said the miner will continue to focus on disciplined management of costs and capital to maximise cash flow generation throughout 2016.
Rio Tinto recorded a net profit of $1.04 billion at 30 June 2015.
