Rio Tinto Backs Pilbara Iron Ore Cost, Shipment Guidance
09 October 2023 - 6:02PM
Dow Jones News
By Christian Moess Laursen
Rio Tinto said it backed its full-year guidance to cost and
shipments for its Pilbara iron ore operations.
The Anglo-Australian metals and mining giant said Monday that
the iron ore operations in Pilbara, Western Australia, has produced
83.5 million metric tons in the third quarter, and that shipments
from the network totalled 83.9 million.
For 2023, Rio Tinto reiterated that it expects shipments to come
in at the upper half of the 320 million-335 million ton range.
This includes 45 million to 50 million tons of SP10--low grade
iron ore--which represents 13% to 15% of total tons, up from a
prior guidance of at least 10%.
Unit cost guidance remains at $21.0 to $22.5 per wet ton.
"As we head into the fourth quarter of 2023 we are in a strong
and stable position," Iron Ore Chief Executive Simon Trott
said.
Rio Tinto also set Pilbara guidance for 2024, for which it
targets shipments between 323 million and 338 million tons, while
SP10 levels are expected to remain elevated.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
October 09, 2023 02:47 ET (06:47 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Rio Tinto (ASX:RIOCD)
Historical Stock Chart
From Nov 2024 to Dec 2024
Rio Tinto (ASX:RIOCD)
Historical Stock Chart
From Dec 2023 to Dec 2024
