Rio Tinto lowers iron ore guidance

Financial Times report says Rio Tinto now expects iron ore shipments to come in at the lower end of its target for 2017 at 330m tones amid further rail maintenance in the second half of the year.

The company’s previous iron ore guidance for 2017 was between 330 to 340m tones. The miner revised down its expected share of 2017 hard coking coal production to 7.2 to 7.8m tonnes from 7.8 to 8.4m tonnes previously on the impact of Cyclone Debbie.