Rio Tinto

Aussie mining giant Rio Tinto has reported that the company has exported 19% more iron ore in Q2 2020 compared to Q1 2020. Rio Tinto exported 87 million tonnes of iron ore in Q2 2020. Rio Tinto exported 73 million tonnes of iron ore in Q1 2020 due to infrastructure damage and significant weather disturbances in February 2020. In Q2 2020, Rio Tinto operations performed well, notwithstanding the severe measures executed to handle the corona pandemic. In Q2 2020, Rio Tinto shipped 14.6 million tonnes of bauxite which is 9% higher than Q2 2019. Up to now, the corona recession has a limited impact on bauxite demand. Rio Tinto presented a strong performance, particularly in iron ore and bauxite business in difficult conditions due to the corona recession. 16-July-2020

 

Aussie mining giant Rio Tinto’s iron ore exports to China decreased by 16% in Q1 2020 compared to Q4 2019. Rio Tinto’s 2020 full-year predictions of iron ore exports to China still at 334 million metric tonnes. In Q1 2020, China’s iron ore demand increased. In Q1 2020, Rio Tinto exported 73 million metric tonnes of iron ore to China, compared to 87 million metric tonnes of iron ore in Q4 2019. In February 2020, due to tropical cyclone Damian, Rio Tinto’s iron ore exports to China were severely affected however it was recovered in March 2020. Rio Tinto’s iron ore exports to China decreased 16% in Q1 2020 due to seaborne supply interruptions and strong demand from China’s steel mills despite the impact of coronavirus. Aussie mining giant Rio Tinto has also taken advantage of low freight rates in Q1 2020 for iron ore exports to China. In Q1 2020, Rio Tinto produced 13.8 million tonnes of bauxite production which is 8% higher than Q1 2019. China’s bauxite demand increased significantly in Q1 2020, as China’s domestic reserves continue to decrease in quality and quantity due to coronavirus restrictions. Australian giant miner Rio Tinto exported 9.5 million tonnes of bauxite in Q1 2020 which is 7% higher than Q1 2019. According to Rio Tinto’s report, the company will continue to mining and will take all necessary precautions while protecting the health and safety of all employees. 20-April-2020

 

Australian mining giant Rio Tinto exported 14% less iron ore in Q1 2019 due to a series of cyclones and has decreased the end of 2019 estimations. In March 2019, Rio Tinto reported that iron ore production was affected by cyclones. Furthermore, Rio Tinto’s iron ore production was also impacted by the fire at Cape Lambert A in January 2019. Cape Lambert A is an iron ore terminal with a capacity of loading more than 85 million tons per year. In March 2019, due to cyclones, Port of Port Hedland closed for 92.5 hours, Port of Dampier closed for 132 hours and Port of Ashburton closed for 109 hours. Rio Tinto’s iron ore exports reached 69 million tons in Q1 2019 versus 71 million tons in Q1 2018. These unfortunate events will impact the Australian mining giant Rio Tinto’s Q2 2019 performance and year-end reports. Australian mining giant Rio Tinto decreased 2019 year-end guidance for Pilbara exports to 333 million tons from 350 million tons. According to Rio Tinto, Q1 2019 operational performance is better than Q1 2018. Australian mining giant Rio Tinto aims to continue providing unsurpassed returns to the company’s shareholders in the short, medium, and long term. Rio Tinto completed Amrun bauxite mine in advance and produced 13 million tons of bauxite in Q1 2019. 16-April-2019

 

Capesize dry bulk carrier 2014 built 186K DWT M/V Cape America chartered out to Rio Tinto for $17,000 per day for 2 years period. 17-April-2017

 

Greek Golden Flame Shipping chartered out cape size 2010 built dry bulk carrier 180K DWT M/V Samjohn Legacy to Rio Tinto 5 to 8 months for $9,100 per day. Previously, M/V Samjohn Legacy was chartered out to E.ON for the past year at $11,000 per day. 21-August-2016