Rio Tinto publishes the lowest q1 raw shippers since 2019

Written by Rossi Nair and Milani Burton

(Reuters) – On Wednesday, Rio Tinto reported the lowest shipments of iron ore in the first quarter since 2019 and warned that more weather disorders could lead to Miss 2025, after hurricanes affected the Bilbara operations.

The company is now expecting that Pilbara Iron Ore shipments for 2025 will reach the minimum expected range of 323 million to 338 million metric tons.

A series of tropical hurricanes in activities in the first quarter of activities in the Dampier port in the Pilbara area, with the company warning previously of total losses of 13 million tons of iron ore due to bad weather.

Rio Tinto has implemented the recovery plans to recover about half of the weather -related losses at a cost of about 150 million dollars (95 million dollars) for reforms and extract the additional contract through its operations in Bilbara.

“The guidance of iron ore in Bilbara remains subject to the timing of the approvals for the planned mining areas and heritage connections. The system has a limited ability to alleviate more loss of the weather if it incurred,” the company said in a statement.

Rio Tinto shares decreased by 1.2 % to $ 110.14, walking with a decrease of 0.2 % in the broader mining sector.

The mining factor was struggling to constantly increase production while shipping more low -degree crude as it is preparing to bring the next generation of iron ore mines online.

It risks the loss of its location as the best iron ore producer in the world if the Vale SA, which was mentioned on Tuesday, achieves the upper end from 325 million to 335 million tons for the year 2025.

Rio Tinto’s expectations for 2025 from 323 million to 338 million tons are excluded between 9.7 million to 11.4 million tons of Canadian operations.

Meanwhile, copper production on a unified basis increased by 16 % to 210,000 tons compared to last year, but decreased by 8 % over a quarter.

In the Kenikot process in Utah, copper production decreased by 32 % from the previous quarter due to the failure of the unplanned carrier, although it increased by 7 % on an annual basis. The company said that the affected carrier has been restored since then to complete jobs.

The largest iron ore producer in the world has shipped 70.7 million tons of the steel industry commodity from Bilbara operations in the three -month period ending on March 31, a decrease from 78 million tons last year, and missed the estimation of the Alpha visual consensus of 73.6 tons.

($ 1 = $ 1.5785)

(Participated in the reports of Rossi Nair, Rajasik Mukirji in Bangaluru and Melani Burton in Sydney; edited by Devika Siamnat and Sherry Yaqoub Philips)