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

Australian miner Rio Tinto has reduced its 2019 iron ore production 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 production 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...


Alex Theo

April 16, 2019

09:45 GMT