Rio Tinto Expects Strong 2023 Iron-Ore Sales; Cuts Guidance for Alumina, Refined Copper
19 July 2023 - 9:25AM
Dow Jones News
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)
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