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Sluggish iron ore supply response could hamper China's decarbonization drive | Hellenic Shipping News Worldwide

The S&P Global Platts IODEX 62% Fe index reached a record $233.10 per tonne May 12, driven by a resurgence in global demand, tightening supply and runaway steel prices. Although prices eased back in July, iron ore and steel will be key beneficiaries of the infrastructure investment drives in both China and the U.S. They . ....

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Investegate |Rio Tinto Announcements | Rio Tinto: Rio Tinto 2021 half year results

Investegate |Rio Tinto Announcements | Rio Tinto: Rio Tinto 2021 half year results
investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.

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Rio Tinto iron ore takes $300m inflation hit

Iron ore supply slump as Rio runs late on new mines
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Rio Tinto has warned that a swathe of new iron ore mines will be delivered “slightly later than planned” on the back of labour shortages and a more consultative approach to Aboriginal heritage, suggesting new iron ore supply will take longer to cool the scorching-hot iron ore market.
The revelation that schedules were slipping on billions of dollars of new Rio mines in Western Australia came as Rio reported its weakest first half iron ore export performance since 2015.
Rio Tinto is Australia’s biggest iron ore exporter by volume but is on track for a rare decline in annual exports. ....

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RIO to ramp iron ore output - MacroBusiness

MacroBusiness
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RIO’s Q2 productio report:
Pilbara operations produced 152.3 million tonnes (Rio Tinto share 126.9 million tonnes) in the first half of 2021, 5% lower than the first half of 2020 due to above average rainfall, shutdowns to enable replacement mines to be tied in, processing plant availability and cultural heritage management. Ongoing COVID 19 restrictions and a tight labour market have further impacted our ability to access experienced contractors and particular skill sets.
Sustained wet weather had an estimated impact of around 3 million tonnes in the first half. Consistent and above average rainfall impacted mine operations, particularly at West Pilbara and Robe Valley operations. The recorded rainfall days were 30% and 70% above the five year average at Paraburdoo and Karratha respectively, while rainfall at Pannawonica was 60% above the five year average. ....

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Investegate |Rio Tinto Announcements | Rio Tinto: Rio Tinto second quarter production results

Investegate |Rio Tinto Announcements | Rio Tinto: Rio Tinto second quarter production results
investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.

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