logo
  

Rio Tinto Q4 Iron Ore Shipments Down 1%

Anglo-Australian mining giant Rio Tinto Plc (RTNTF,RIO,RIO.L, RTPPF) reported that its fourth-quarter pilbara iron ore shipments were 86.8 million tonnes, down 1% from the fourth quarter of 2018.

Pilbara iron ore shipments of 327 million tonnes for 2019 were 3% lower than 2018, primarily impacted by weather and operational challenges in the first half of 2019 and the company's active decision to protect the quality of the Pilbara Blend.

Pilbara iron ore production dropped 3% to 83.6 million tonnes in fourth quarter, and dropped 3% to 326.7 million tonnes for 2019.

Fourth-quarter bauxite production was up 28% to 15.1 million tonnes. Bauxite production of 55 million tonnes in 2019 was 9% higher than 2018, underpinned by the successful ramp-up of the Amrun mine in Queensland, Australia.

Aluminium production of 3.2 million tonnes was 2% lower than 2018, primarily reflecting a preventive safety shutdown of one of the three pot-lines at ISAL in Iceland and earlier than planned pot relining at Kitimat in British Columbia, Canada in the second half.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Consumer Product Safety Commission or CPSC has announced recalls including earmuffs, racer car toys, log splitters and cylinder kits, hampshire cribs, and air rifles, citing various reasons. 3M Co. has recalled Peltor X4 Series Earmuffs citing risk of overexposure to loud noise and sound, while Santa Monica, California -based JAKKS Pacific Inc. has called back children's Mario Kart... Lincoln Park, New Jersey -based ConSup North America Inc. is recalling around 85,984 pounds of ready-to-eat or RTE sliced prosciutto ham product produced in Germany without the benefit of equivalent inspection, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS announced. French drug major Sanofi reported Thursday weak profit in its first quarter, despite higher net sales. The company also maintained its fiscal 2024 outlook. Sanofi shares were gaining around 4 percent in Paris trading as well as in pre-market activity on the Nasdaq.

A busy week for economics saw the release of first quarter growth figures for the U.S. economy and the interest rate decision in Japan. Read our stories to find out why the GDP data damped market sentiment in the U.S. and what were the signals given out by the Bank of Japan. Other news this week included new home sales data and jobless claims figures from the U.S., and the latest purchasing managers' survey results for the Eurozone.

View More Videos
Follow RTT