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Australia Investing
Rio’s Production, Cape Lambert Port Impacted by Cyclone
Apr. 01, 2019 06:55AM PST
With Tropical Cyclone Veronica now having passed through Western Australia, Rio Tinto stated that it experienced damage to its Cape Lambert A port facility.
With Tropical Cyclone Veronica now having passed through Western Australia, Rio Tinto (ASX:RIO,LSE:RIO,NYSE:RIO) is advising that it experienced damage to its Cape Lambert A port facility.
According to the company, it has had to declare “force majeure” on some of its contracts and is working with customers to minimize any supply disruption.
As stated in the press release:
The impact of the disruption to production caused by the cyclone and repairing the damage sustained at the port facilities, combined with the damage caused by the fire at Cape Lambert A in January, will result in a loss of approximately 14 million tonnes of production in 2019. As a result Rio Tinto’s Pilbara shipments in 2019 are expected to be at the lower end of the 338 and 350 million tonnes (100 percent basis) guidance provided.
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A graduate of Durham College's broadcast journalism program, Olivia has a passion for all things newsworthy. She got her start writing about esports (competitive video games), where she specialized in professional Call of Duty coverage. Since then, Olivia has transitioned into business writing for INN where her beats have included Australian mining and base metals.
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A graduate of Durham College's broadcast journalism program, Olivia has a passion for all things newsworthy. She got her start writing about esports (competitive video games), where she specialized in professional Call of Duty coverage. Since then, Olivia has transitioned into business writing for INN where her beats have included Australian mining and base metals.
Learn about our editorial policies.