Rio expects to reach target
Rio Tinto says it is on track to export 330 million tonnes of iron ore from its Pilbara operations after lifting shipments in the second quarter of the year.
Rio said its Pilbara iron ore mines produced 80.9 million tonnes of product in the June quarter, 8 per cent more than in the same quarter of 2015.
It shipped 82.2 million tonnes of iron ore in the period to customers, as Rio drew down on stockpiles to try to make up for a rain-affected first quarter of the year.
The global mining giant reiterated its 330 million tonne guidance for 2016 and said it believed it would export 330mt-340mt from the Pilbara next year “subject to final productivity and capital expenditure plans”.
Rio said it expected its board to make a decision on construction of the $US500 million-plus Silvergrass mine in the second half of the year.
Rio Tinto chief executive JeanSebastien Jacques said the company had delivered another robust quarter of operational performance.
“We continue to focus on value and maximising cash flow from our assets, through both commercial and operational excellence while maintaining capital discipline,” he said.
“This will ensure that Rio Tinto is well-positioned to generate compelling and consistent returns for our shareholders.”
A loaded Rio Tinto train heads to Dampier.