Rio Tinto see a drop in iron ore shipments

Company News

by Rachael Jones

Rio Tinto (ASX:RIO) has seen a drop in their Pilbara iron ore shipments for their third quarter.

They posted shipments of 81.9 million tonnes in the third quarter - this was five per cent lower than the third quarter of 2017.

Reasons for this include planned maintenance cycles and a safety pause across all operations following a fatality.

A truck operator was fatally injured at the Paraburdoo Iron Ore mine on 15 August this year.

An investigation is in progress.

Bauxite production of 12.7 million tonnes was one per cent lower than the corresponding quarter of 2017, with strong production at Weipa offset by lower production at the non-managed Brasil mines.

Shares in Rio Tinto (ASX:RIO) is trading 0.88 per cent higher to $78.18.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.