Rio Tinto iron ore output down 11% in Q1
Apr 17, 2012 | 08:05 AM
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Rio Tinto, the world’s second-largest iron ore miner, has reported global output of 45.64 million tonnes during the first quarter of 2012, down by 11% compared with production in the December quarter of 2011.
The first quarter traditionally sees lower production due to adverse weather, industry insiders said, but other market participants noted that lower demand from China and reduced prices were also behind the decline in output.
Production reached 58.61 million tonnes during the period, down by 10% from the previous quarter but up by 10% year-on-year, according to Rio Tinto’s quarterly operations review. ....
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