Rio Tinto Keeps Iron Ore Sales Outlook After Third-Quarter Increase
The miner sold 90.8 million tonnes of iron ore and maintained its annual sales forecast despite limited operational effects from Middle East tensions.
Key takeaways
- Rio Tinto sold 90.8 million tonnes of iron ore in the third quarter, up 3%.
- The company maintained its annual iron ore sales forecast of 343 million to 366 million tonnes.
Rio Tinto maintained its annual iron ore sales forecast after third-quarter sales rose 3% to 90.8 million tonnes. The company expects to sell 343 million to 366 million tonnes in the 12 months through December.
The miner said strong mine performance and solid port stockpiles supported the increase. It also kept its annual production targets for its other mined commodities unchanged.
Rio Tinto reported third-quarter copper production of 205,000 tonnes. Output at its Oyu Tolgoi mine in Mongolia rose 27% year over year, while production for the first nine months reached 646,000 tonnes, up 1%.
The company said operational effects from the Middle East conflict remained limited and that fuel supplies were secured through stock buffers and alternative sources.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
