Rio Tinto lowers 2019 iron ore guidance by 2% amid earlier supply disruptions [CORRECTED]

Australian miner Rio Tinto has reduced its 2019 iron ore shipment guidance to 333-343 million tonnes, from 338-350 million tonnes, 100% basis, as estimated at the end of fourth quarter of 2018.

The lower guidance was due to a slower ramp-up and ongoing disruptions to shipments caused by weather and other disruptions, the miner said. Most of Rio Tinto's iron ore output originates from the Pilbara region in Western Australia. Western Australia was hit by tropical cyclone Veronica at the end of March, causing operations to halt at several of the region's ports.  It was also reported earlier this year that a fire broke out at Rio...

Published

Alex Theo

April 16, 2019

09:45 GMT

Singapore