The mining company Rio Tinto has announced a lowered shipment target for the year 2017 after the Jun quarter end result. The main reason cited for the change in numbers is the rail maintenance work that slowed maneuvering of the steel making raw material.
Shipment guidance for 2017 was considered earlier between 330 million to 340 million tonnes which is now to 330 million tonnes. Pilbara iron ore shipments totaled 77.7 MnT for quarter were down 6% Y-o-Y.
Cyclone Debbie affected Australia’s eastern Queensland state production of hard coking coal as well in the second quarter, with pit access at the Hail Creek operation restricted by water, it is reported. However the shipments were mainly restricted was due to an acceleration of a rail maintenance program following poor weather in the first quarter.
Source: Company Report
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