Rio Tinto 1Q Australian Iron-Ore Shipments Down 8% On-Year

By Rhiannon Hoyle

Rio Tinto PLC on Wednesday said it shipped less iron ore from its Australian mines in the first quarter of 2022 as it faced challenges progressing new developments and reserves at maturing pits depleted.

The world's second-biggest mining company by market value said 71.5 million metric tons of iron ore was shipped from its operations in Australia's remote Pilbara region during the three months through March. That was down 8.0% year-on-year, and 15% weaker than the previous quarter.

"Production in the first quarter was challenging as expected, re-emphasizing a need to lift our operational performance," said Chief Executive Jakob Stausholm.

The delayed ramp up of its Gudai-Darri project--where first production is forecast for the second quarter of 2022--and continuing commissioning challenges at the Mesa A wet plant slowed the miner's plan to increase iron ore output at Robe Valley, it said.

Write to Rhiannon Hoyle at [e-mail]

(END) Dow Jones Newswires

04-19-22 1904ET