Rio Tinto Limited
(ASX:RIO) has lowered the bottom end of its Australian iron production guidance over the next five years, according to reports.
Rio told analysts in Perth that the potential production range had widened at its network of mines, railways and ports in Western Australia's Pilbara region.
Iron ore development chief David Joyce told analysts that annual exports from WA iron ore could range from 300 million tonnes to 375 million tonnes in 2018.
This compares with the range of 360 to 375 million tonnes provided in May by Rio chief executive Sam Walsh.
The change indicates annual mine production in a worst-case scenario would only rise fractionally from the 290 million tonne level it plans to reach next year after an $11 billion expansion.
Rio Tinto delivered a net profit of $1.8 billion in the first half of fiscal 2013.
