Rio Tinto uncover cyclone damage at Cape Lambert port

Company News

by Rachael Jones

Rio Tinto (ASX:RIO) has uncovered some cyclone damage to their iron ore operation at their Cape Lambert port facility from Tropical Cyclone Veronica.

The impact of the disruption to production caused to the port facilities, combined with damage caused by the fire at Cape Lambert A in January, will result in a loss of approximately 14 million tonnes of production in 2019

As a result Rio Tinto’s Pilbara shipments in 2019 are expected to be at the lower end of the 338 and 350 million tonnes guidance provided.

Shares in Rio Tinto (ASX:RIO) closed 1.56 per cent higher at $97.91.

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.