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Australia's three major mining companies announced first-quarter production performance

Australia's three major mining companies announced first-quarter production performance
Issue Time:2019-05-14

On April 16, Rio Tinto released its first quarter productionreport for 2019. According to the report, in the first quarter, Rio Tinto'siron ore output reached 76 million tons (100% equity basis), down 9%year-on-year and 12% quarter-on-quarter; iron ore shipments reached 69.10million tons, down 14% year-on-year. , the chain fell by 21%.

Rio Tinto said in the report that iron ore production duringthe quarter was severely affected by bad weather in March and the port Lambertport fire in January. These events will also have an impact on Rio Tinto'ssecond quarter results.

It is understood that Rio Tinto will adjust the guidancetarget for iron ore shipments in 2019 to 333 million tons to 343 million tons(previous guidance target of 338 million tons to 350 million tons).

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