Author: Nidhi Awasthi
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Australia: Rio Tinto’s iron ore shipments drop 5% y-o-y in Q1CY’24, guidance intact
The world’s leading iron ore miner, Rio Tinto, recorded iron ore shipments at 78 million tonnes (mnt) for Q1CY’24, down by 5% y-o-y as compared to 82.5 mnt in Q1CY’23. Shipments, on a quarterly basis, decreased against 86.3 mnt in Q4CY’23. Shipments fell amid weather disruptions at ports and reduced production from some of Rio’s…