16th Apr 2025 09:24
(Alliance News) - Rio Tinto PLC on Wednesday kept its production and cost guidance for 2025 unchanged, but the miner warned that iron ore shipments from its key Pilbara operations will be at the lower end of guidance due to "extreme weather events" in the first quarter.
Rio shares were down 1.8% to 4,274.00 pence early Wednesday in London. They had closed down 2.7% to AUD108.37 in Sydney.
Western Australia, where the Pilbara mine is located, was hit with four cyclones in the first quarter of the year. Rio said these storms reduced iron ore shipments by 13 million tonnes.
As a result, total shipments in the three months were 70.7 million tonnes, down 9% from a year before and 17% from the fourth quarter of 2024. Production at Pilbara was 69.8 million tonnes of iron ore, down 10% from a year before and 19% from the fourth quarter.
Rio on Wednesday kept its guidance for Pilbara shipments in 2025 at 323 million to 338 million tonnes but said the outcome will be at the lower end of this range.
More positively, Rio said bauxite output of 15.0 million tonnes was up 12% from a year before and a record output for a first quarter, though it was down 3% from the fourth quarter. Guidance for bauxite production in 2025 was left unchanged at 57 million to 59 million tonnes.
Elsewhere, alumina production was up 3% on year in the first quarter but down 4% from the fourth quarter. Aluminium output was flat on a year before and down 1% on the fourth quarter. Copper output, on a consolidated basis, was up 16% on year but down 8% from the previous quarter.
Guidance for all these metals was kept unchanged.
By Tom Waite, Alliance News editor
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Rio Tinto