Rio Tinto could grow Australian iron ore exports by up to 4 per cent in 2022 if theThe vow to export between 320 million and 335 million tonnes from Western Australia in the year ahead comes after Rio’s flagship division delivered its weakest annual output since 2015 and suffered delays in delivering new mines designed to reinvigorate the ageing division.
Rio was forced to downgrade that original target for 2021 and the more cautious export target announced on Tuesday suggests Rio is no more confident in its WA iron ore division, and the“Our guidance assumes development of the pandemic does not lead to government imposed restrictions and widespread protracted cases related to new highly contagious variants with high severity,” said Rio on Tuesday.The most important of Rio’s new iron ore mines is the $US2.
The weak iron ore export volumes of the past year were well below the 330.57 million tonnes shipped by Rio in the 2020 calendar year and paled in comparison to the 338.16 million tonnes shipped in 2018.
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