Rio Tinto Q3 iron ore output down 2% YoY

sxcoal.com 2021-10-20 15:05:32

Rio Tinto saw its Pilbara operations produce 83.3 million tonnes of iron ore in the third quarter of 2021, down 4% from the same quarter of 2020, with equity production of Rio Tinto down 2% year on year to 69.9 million tonnes, according to its third quarter performance report.


The reduction in production was due to heritage management and project completion delays, said the report.


The iron ore output of Pilbara rose 10% from the second quarter, and Rio Tinto's equity output also increased 10%, thanks to favorable weather condition.


Pilbara's iron ore shipments came in at 83.4 million tonnes in the third quarter, 2% higher than a year ago and up 9% from the quarter prior. Equity shipments of Rio Tinto were 69.2 million tonnes, up 2% from the same quarter of 2020 and 8% from the quarter before.


Its iron ore exports to China reached 3.6 million tonnes during the quarter, bringing offtakes in the first three quarters to 8.9 million tonnes to the country.


Pilbara produced 236 million tonnes of iron ore in the first three quarters, down 5% year on year, with 197 million tonnes in Rio Tinto share, down 4% from the year-ago level.


Iron ore shipments of Pilbara were 238 million tonnes in the first three quarters, down 2% from the same period of last year, with 198 million tonnes in Rio Tinto share, down 1% on the year.


Rio Tinto expected Pilbara shipments to be 320-325 million tonnes in 2021, down from previous goal of 325-340 million tonnes following modest delays to completion of mines and global tight supply chains.



(Writing by Lilya Li  Editing by Tammy Yang)
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