By Rhiannon Hoyle

 

Rio Tinto PLC said it expects full-year iron-ore shipments from its Australian mining operations to be in the upper half of company guidance, but cut production estimates for several other commodities it produces, including alumina and refined copper.

The world's second-largest miner by market value said 2023 shipments are now expected to be in the upper half of its 320 million to 335 million metric ton projection. The company, which relies on steel ingredient iron ore for the majority of its profits, said it shipped 79.1 million tons of the commodity from its Australian iron-ore mines in the second quarter of the year, down 1% on the same time last year.

 

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

 

(END) Dow Jones Newswires

July 18, 2023 19:10 ET (23:10 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
Rio Tinto (ASX:RIO)
Historical Stock Chart
From Jan 2024 to Feb 2024 Click Here for more Rio Tinto Charts.
Rio Tinto (ASX:RIO)
Historical Stock Chart
From Feb 2023 to Feb 2024 Click Here for more Rio Tinto Charts.