January 16, 2020 / 9:47 PM / a month ago

Miner Rio Tinto posts 3% drop in full-year iron ore shipments

Jan 17 (Reuters) - Rio Tinto on Friday posted a 3% drop in iron ore shipments for the full year as the Anglo-Australian miner’s operations were disrupted last year by cyclone and fire.

Iron ore shipped from Australia’s Pilbara region in 2019 was 327.4 million tonnes, the company said, well within its forecast of 320 million tonnes to 330 million tonnes.

Rio expects shipments in 2020 to be between 330 million tonnes and 343 million tonnes.

Meanwhile, iron ore shipments in the fourth quarter ended Dec. 31 fell to 86.8 million tonnes from 87.4 million tonnes a year earlier. (Reporting by Nikhil Kurian Nainan and Aby Jose Koilparambil in Bengaluru; Editing by Arun Koyyur)

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