Anglo-Australian miner Rio Tinto Ltd on Tuesday reported a 14 percent drop in qu...
FILE PHOTO: The Rio Tinto mining company's logo is photographed at their annual general meeting in Sydney, Australia, May 4, 2017. REUTERS/Jason Reed/File Photo
Rio, the world’s No. 2 miner of the steelmaking material, cut its annual iron ore shipments estimate to a range of 333 million to 343 million from a range of 338 million to 350 million tonnes announced earlier. Cyclone Veronica disrupted ports used by miners Rio and BHP Group in late March. Rio earlier flagged a loss of about 14 million tonnes of production in 2019 due to disruption caused by the tropical cyclone and a fire at a port facility in January.
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