October 31, 2019 / 7:13 AM / 22 days ago

Australia's Rio Tinto sees 5% increase in 2020 iron ore shipment

(Reuters) - Australia’s Rio Tinto on Thursday forecast a 5% year-on-year rise in iron ore shipments for 2020 and also deferred $500 million of capital expenditure in 2019 to the next year.

The global miner said total capital expenditure in 2019 is expected to be at around $5.5 billion, and $7 billion in 2020.

Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Himani Sarkar

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