Help Desk -
9717405332, 9599714297, 9810335381

Rio Tinto see 2018 iron ore exports likely to be up

Mining News - Published on Thu, 07 Dec 2017

Image Source:
Platts reported that mining giant Rio Tinto expects to see year-on-year increases in iron ore shipments in 2018. The company said in an investor seminar that it is expecting to ship 330 million to 340 million tonne of iron ore next year, which compares to its 2017 guidance of 330 million tonne.

Rio Tinto noted that Chinese environmental policy measures are increasing demand for higher grade iron ore, which benefits the company’s 62% Fe product.

Rival Australian iron ore miner, Fortescue Metals Group’s chairman Andrew Forrest last week said that his company is going to target future production of above 60% Fe.

RBC Capital Markets analyst Mr Paul Hissey said the announcement indicates FMG moving away from the 55% and 58% Fe products which account for the bulk of the company’s current sales and would see it directly competing with existing premium ore producers.

Mr Hissey added that “As this is an address from the chairman, we understand the high level of the commentary; however, the challenge must surely be as to how FMG is able to achieve this given the existing resources/reserves and installed capital base.”

Source :

Posted By : Rabi Wangkhem on Thu, 07 Dec 2017
Related News from Mining segment