Rio Tinto Reports Increase in Iron Ore Output in Q3 Operational Results

Rio Tinto (NYSE:RIO,ASX:RIO,LSE:RIO) announced its 2015 third quarter operational results, which showed an 11 percent increase in output from its Pilbara iron ore operations.
As quoted in the press release:

Pilbara operations produced 227.6 million tonnes (Rio Tinto share 185.1 million tonnes) in the first nine months of 2015, 11 per cent higher than the same period of 2014. Third quarter production of 81.3 million tonnes (Rio Tinto share 66.5 million tonnes) was 12 per cent higher than the same quarter of 2014. These new milestones were achieved through the continued ramp-up of the Nammuldi operations, as well as a number of productivity improvements, which resulted in incremental gains across most sites. Favourable weather conditions meant that there was minimal disruption compared with the first and second quarters of 2015.
Sales of 232.1 million tonnes (Rio Tinto share 189.0 million tonnes) in the first nine months were 11 per cent higher than the same period of 2014, while third quarter sales of 85.6 million tonnes (Rio Tinto share 70.7 million tonnes) were 16 per cent higher than the same quarter of 2014. Sales in the quarter exceeded production by 4.2 million tonnes, primarily drawing down on inventories at the mines. This draw-down has been a key focus in 2015 and inventories built up during the infrastructure expansion phase are expected to be largely utilised by early 2016.
Rio Tinto’s expected 2015 global shipments are unchanged at around 340 million tonnes (100 per cent basis), from its operations in Australia and Canada.

Click here to read the full Rio Tinto (NYSE:RIO,ASX:RIO,LSE:RIO) press release.