Rio ex­pects to reach tar­get

Pilbara News - - PILBARA NEWS - Nick Evans

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.”

Pic­ture: Tom Zaun­mayr

A loaded Rio Tinto train heads to Dampier.

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