Investing.com– reported higher first-quarter iron ore production and modest sales growth on Tuesday, although cyclone-related disruptions hit shipments in Western Australia.
Pilbara iron ore production rose 13% year-on-year to 78.8 million tonnes, marking the second-highest first-quarter output since 2018. Pilbara sales increased 2% to 72.4 million tonnes.
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However, shipments were impacted by tropical cyclones, reducing volumes by about 8 million tonnes, with roughly half of the lost output expected to be recovered in the coming quarters, the company said.
Overall iron ore production climbed 12% to 82.8 million tonnes, reflecting improved mine productivity despite weather-related disruptions.
Sydney-listed shares of the company rose 0.5% in early trading.
The miner reported a 9% increase in equivalent production, supported by a ramp-up at its Oyu Tolgoi project, with total copper output rising 9% to 229,000 tonnes.
Aluminium production edged up 1%, while alumina output increased 6%, offsetting an 11% drop in bauxite production due to heavy rainfall and cyclone impacts.
Rio Tinto maintained its full-year production and sales guidance, even as it flagged potential cost pressures from higher fuel prices and ongoing supply chain risks.