Rio Tinto
(ASX:RIO) has released its third quarter production results.
The mining company says its Pilbara iron ore production saw a run-rate of 330 million tonnes a year. Also, shipments were down due to port and rail maintenance during the quarter, so the company has revised its guidance of between 323 and 330 million tonnes for 2016.
The company says it achieved quarterly production records at Weipa and Gove – where 35.6 million tonnes of bauxite was produced in the first nine months of the year. This is 10% higher compared to the same period last year.
Also, the company reported mined copper production for the first nine months of 2016 increased by 4%, compared to the same period last year.
Rio Tinto posted a net profit of $2.3 billion at 30 June 2016.
