Rio Tinto Q1 iron ore shipment up 16% YoY to 82.5 mln t

Rio Tinto, the world's second-largest iron ore miner, shipped 82.5 million tonnes (on 100% basis) of iron ore from its Pilbara operations in Western Australia over the January-March quarter, up by 16% from the corresponding period of 2022 on stronger mine production and a drawdown of stocks, according to the miner's latest quarterly report released on April 20.

The result recorded the highest-ever first quarter shipments achieved in the Pilbara iron ore business, the report highlighted, though the volume was 6% lower than in Q4 2022. The Anglo-Australian miner held its iron ore shipments guidance for 2023 at 320-335 million tonnes (on 100% basis), unchanged from its target in 2022,