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Rio Tinto on Tuesday lowered its forecast for iron ore shipments to 2019 between 333 and 343 million tonnes because of the damage caused by the cyclone in its port of Western Australia.
The Anglo-Australian miner shipped 69.1 million tonnes of raw material used for steelmaking in the first quarter, down 14% year-on-year, as a result of the March weather disruption. 39, a fire occurred at its port facility Cape Lambert A, announced the company.
"Our iron ore sector has faced a number of challenges early this year, particularly due to tropical cyclones," said Rio CEO JS Jacques adding that forecasts for Pilbara's expeditions have been reduced. .
The miner said earlier this month that he expects iron ore shipments for 2019 to be at the bottom of his previous forecast of 338 to 350 million tonnes.
Iron ore prices rose this year after Vale's operations in Brazil ceased, following a dam accident in January, which claimed the lives of nearly 300 people.
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