Rio Tinto expects iron ore shipments to increase by 5% in 2020

Rio Tinto said on Thursday that its iron ore shipments could rise as much as 5% in 2020 as it recovers from operational issues in Australia this year.

The company will also have consistent capacity for volumes of about 360m tons a year once a first phase of the new Koodaideri mine is fully commissioned, expected in late 2021, Rio Tinto said.

Rio Tinto said guidance for 2019 iron ore shipments remains unchanged at 320m-to- 330m tons, at a cost of $14-15/ton. Operations in Australia have, at times, operated at a run rate of 360m tons, though not on an annual basis.

The company was forced to trim production in Western Australia earlier this year after falling behind with mine plans. Rio Tinto was producing too much lower-quality iron ore and forced to reduce total volumes.Asian Metal Copyright The company will also have consistent capacity for volumes of about 360m tons a year once a first phase of the new Koodaideri mine is fully commissioned, expected in late 2021, Rio Tinto said.Asian Metal Copyright Work to make improvements is on track, CEO Jean-Sebastien Jacques revealed.

.Asian Metal Copyright Rio Tinto was producing too much lower-quality iron ore and forced to reduce total volumes.Asian Metal Copyright