Bad weather may cost Rio Tinto's iron ore crown. Vale, which reports output later this month, said is on track to meet the upper end of its 2021 guidance of 315-335 million tonnes, according to UBS. Rio shipped 76.3 million tonnes of the steel-making commodity for the three months ended June 30, down from 86.7 mt a year ago, just ahead of a ...
In Friday's update, Rio also revealed higher production costs at its Pilbara operation. Each tonne of iron ore mined in Australia this year will cost up to $18.50 per tonne to produce, up from a previous forecast of $16.70 to $17.70. These figures exclude shipping costs and royalty payments to …
Here are the breakeven costs for Australia's iron ore miners. Iron ore is getting slammed. Over two months the commodity has fallen almost 25%. Overnight, iron ore was $48.06 per …
Rio Tinto cuts iron ore shipment forecast due to labour shortage London South East 03:00 15-Oct-21 Rio Tinto production tumbles as supply chain woes bite City AM 02:37 15-Oct-21 Rio Tinto PLC Third quarter production results ADVFN 02:11 15-Oct-21
Rio Tinto has flagged up to $500m of extra spending on assets and infrastructure at its flagship iron ore business in Australia. Ahead of an investor update on Thursday, the miner said the cost of ...
RIO Tinto's cost cutting program is hitting its targets as the global miner posts a better than expected quarterly iron ore production report.
1 hour ago. (Reuters) - Rio Tinto on Friday reduced its 2021 iron ore shipments forecast, as a tighter labour market in Western Australia delayed the completion of a new greenfield mine at Gudai-Darri. The miner now expects 2021 Pilbara iron ore shipments between 320 million tonnes (mt) and 325 mt, down from the lower end of a previous range of ...
According to their latest published results, while RIO, BHP, and Vale had free on board (or FOB) cash costs per ton of $16.20, $17.00, and $15.80, Cliffs Natural Resources' (CLF) Asia–Pacific ...
Rio Tinto has blamed rainfall for a dip in first quarter iron ore production as the price of the steel making commodity hovers around a 10-year high.
Rio Tinto announces total dividend of 557 US cents per share for 2020, a 72% pay-out, from robust results during a challenging year ... •First ore from the other iron ore sustaining production projects – the $0.8 billion (our share) Robe River Joint Venture (West Angelas C&D and Mesa B, C and H at Robe Valley) and the $0.8 billion ...
But for the Rio iron ore boss, cost-cutting is coming down to micro detail, which can save millions for a business that will ship 340 million tonnes of iron ore this year.
In a Friday update, Rio also revealed rising production costs in the Pilbara business. The production cost per ton of iron ore mined in Australia this year is up to $ 18.50 per ton, up from the previous forecast of $ 16.70 to $ 17.70. These figures do not …
It shows the current breakeven levels for various iron ore miners, along with the annual volumes each produce and the average quality of the ore they mine. ... Rio Tinto …
In Friday's update, Rio also revealed higher production costs at its Pilbara operation. Each tonne of iron ore mined in Australia this year will cost up to $18.50 per tonne to produce, up from a previous forecast of $16.70 to $17.70. These figures exclude shipping costs and royalty payments to …
Rio Tinto, the world's second-largest exporter of iron ore, narrowly missed its 2015 target for iron ore shipments in 2015, despite an 11 per cent increase and a similar lift in production.
There are other iron ore miners that are already losing money because of their high production costs. Tasmanian miner Grange Resources said the lower iron ore …
0.3% down. Melbourne, July 28 (Reuters)-Rio Tinto (RIO.AX) We recorded record first half results on Wednesday. This was supported by soaring iron ore prices due to strong demand from China, which resulted in global miners paying a dividend of $ 9.1 billion. Rio's six-month base revenue more than doubled year-on-year and steel products prices ...
Rio Tinto (ASX: RIO) has flagged an extra $300 million of costs from its Pilbara iron ore operations related to higher labour and diesel costs and changes to its mine heritage management following the Juukan Gorge debacle. That will lift its 2021 costs from the Pilbara iron ore operations above guidance of $16.70-17.70/t to $18-18.50/t.
SYDNEY: Rio Tinto PLC said pandemic-related restrictions are affecting its mining operations from Australia to Mongolia, slowing iron-ore shipments, raising production costs and delaying projects.
Production from the Pilbara is expected to be between 330 and 340 million tonnes in 2017, Rio said. Iron ore traded at a three-month high on …
Rio Tinto reported a 12% fall in quarterly iron ore shipments on Friday after storms affected its West Australian operations.. The miner said it now expects to ship near the lower end of its range of 325 million tonnes and 340 million tonnes in calendar 2021, meaning it may hand back its crown as the world's biggest producer to Vale.. Vale, which reports output later this month, said is on ...
BHP has disclosed that its iron ore production costs are set for a big increase next year but will remain just below those of rival Rio Tinto. Ramp-up expenses at South Flank added to BHP's higher costs.
Diversified miner Rio Tinto has reported a 12% decline in iron-ore shipment and a 9% decline in production for the second quarter ended June, compared with the previous corresponding period. Iron ...
In Friday's update, Rio also revealed higher production costs at its Pilbara operation. Each tonne of iron ore mined in Australia this year will cost up to $18.50 per tonne to produce, up from a ...
Rio Tinto raised its iron ore production cost guidance for 2021 citing higher input costs (diesel and labor), costs related to mine heritage management as well as COVID-19 related expenses.
Rio Tinto is progressing new technology to deliver low-carbon steel, using sustainable biomass in place of coking coal in the steelmaking process, in a potentially cost-effective option to cut industry carbon emissions.. Over the past decade, Rio Tinto has developed a laboratory-proven process that combines the use of raw, sustainable biomass with microwave technology to convert iron ore to ...
BHP Billiton organized a site tour of its Western Australia Iron Ore operations this week, providing valuable information about its production costs: Source: BHP Billiton Site Tour Presentation, September 27 2011 Observations: BHP positions itself in the cost curve around $39/t CIF. Average iron ore price for the year ended June 2011 was $163/t, resulting…
"Guinea is planning a comprehensive review of its mining licences that could disrupt a $1.35bn iron ore agreement between China's Chinalco and Rio Tinto, a $2.5bn iron ore acquisition by Brazil's Vale, and a slew of smaller mining deals in the mineral-rich west African state. All mining companies in Guinea will have to submit to…
Rio Tinto's Australian iron ore expansions that are weighing on prices and closing down higher cost production are putting the company's higher-cost Canadian operations at risk of closure.
The company said that it expects to ship between 320 million and 325 million tonnes of iron ore from its Pilbara operations. Rio Tinto has 16 iron …