Rio Tinto 15% increase in iron ore shipments

Rio Tinto, the mining giant, who had been in talks with Glencore about a possible merger in the summer, exported 78mt of iron ore from its global operations. Global iron ore production and shipments both set new nine month records of 216.2mt and 220.4mt respectively. Rio Tinto said its share of global production was 170.3mt, while shipments were 173.8mt.
Rio Tinto said sales from its Pilbara iron ore operation continued to exceed production in the quarter, as the stocks that were built in anticipation of delivery of the infrastructure expansion were drawn down.
Rio Tinto said the infrastructure for the planned expansion of its production to 360mt of iron ore per annum was “75% complete” with all rail, marine and wharf works in place.
Rio Tinto confident about long-term demand for iron ore from China, India and other Asian countries.
Rio Tinto’s global bauxite production was 10.9mt.