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Rio Tinto cuts iron ore shipment guidance, citing operational challenges

By BFN News | 01:06 PM | Wednesday 19 June, 2019


Rio Tinto downgraded its annual iron ore shipment guidance after experiencing 'operational challenges' in the Pilbara region of Western Australia state. Shipments for calendar 2019 were now expected to 320m-to-330m tonnes, down from previous guidance of 333m-to-343m tonnes. 'Iron ore is currently experiencing mine operational challenges, particularly in the Greater Brockman hub in the Pilbara,' Rio Tinto said. 'This is resulting in a higher proportion of certain lower grade products, partly to protect the quality of our flagship Pilbara blend.' Given the change in volume guidance, the miner said that unit costs would be updated its second-quarter operations review, due 16 July. At 1:06pm: (LON:RIO) Rio Tinto PLC share price was -196p at 4681.5p Story provided by StockMarketWire.com

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