Rio Tinto: strong finish to production in 2017

(CercleFinance.com) - Rio Tinto's production had a strong end to the year, with the company achieving record iron ore shipments, the global miner said late on Monday.


The group's Pilbara mines produced 329.8 million tonnes in 2017, versus 329.5 tonnes in 2016, with production in fourth-quarter up 3% at 87.9 million tonnes, reflecting the implementation of several productivity projects.

In a statement, the company mentioned a "strong performance," given recent shutdowns.

"The business performed well in the fourth quarter, and we finished the year in line with guidance across all major products," Rio Tinto chief executive Jean-Sebastien Jacques said.

Regarding 2018 guidance, Rio Tinto's Pilbara shipments are expected to be somewhere between 330 million and 340 million tonnes this year, suggesting a slight increase relative to 2016.

London-listed Rio Tinto shares were down 1.4% at 4,112.5 pence after these numbers.

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