Rio Tinto Deals with Bad Weather

Despite weather related interruptions, Rio Tinto said its iron ore shipments from the Pilbara (above) were in
line with expectations.
In its first quarter production report, Rio Tinto said it shipped 76.7 million metric tons (mt) of iron ore from the Pilbara. The 13% quarter-to-quarter decrease was a attributed to cyclone activity during the period. The company said sections of the rail network were also affected by significant rainfall. Despite the disruptions, shipments were in line with the first quarter of 2016 and guidance for 2017 remains at 330 to 340 million mt.

“Despite challenging weather conditions at our West Australian and Queensland operations, we delivered solid production in the first quarter of 2017,” said Rio Tinto chief executive J-S Jacques. “Our strategy is unchanged. Our number one priority is safety. We maintain our disciplined approach to capital management and maximizing cash flow, with a focus on managing costs and enhancing productivity across the business.”

As featured in Womp 2017 Vol 05 -