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Australian Mining reported that Rio Tinto (NYSE:RIO) has announced a twelve per cent increase in iron ore production, with shipments of iron ore up by nine per cent.
Australian Mining reported that Rio Tinto (NYSE:RIO) has announced a twelve per cent increase in iron ore production, with shipments of iron ore up by nine per cent.
As quoted in the market news,
Global iron ore shipments of 72.5 million tonnes were nine per cent higher than in the first quarter of 2014.
Production of 74.7 million tonnes was a 12 per cent increase year on year.
Rio’s CEO Sam Walsh stated:
By making best use of our high quality assets, low cost base and operating and commercial capability our aim is to protect our margins in the face of declining prices and maximise returns for shareholders throughout the cycle.