Rio Tinto cuts Canada iron ore production estimate on extended plant outage
Rio reported a 1.2 per cent rise in its third-quarter iron ore shipments, as it ramped up production at the Gudai-Darri mine. It shipped 83.9 mt of iron ore from Pilbara in the September quarter, compared with 82.9 mt a year earlier.
The miner, which generates 70 per cent of its profit from its iron ore operations, saw prices of the commodity improve as top consumer China stepped up its stimulus efforts. (Image credit: Reuters)