A pioneer in mining and metals is countering a downturn in iron ore by increasing production at its $2.6 billion metal development in Far North Queensland.
Rio Tinto ramped up production by 9 per cent to 55 million tonnes between September and December 2019 at its Amrun Bauxite Mine, 40km south of Weipa.
The proponent also confirmed third party shipments jumped 21 per cent to 40M tonnes compared to the previous year 2018 off the back of rising production volumes at the mine.
Rio made the move because iron ore orders continue to struggle from the prolonged drought, forcing the company to reduce Pilbara iron ore shipments by 3 per cent to 327M tonnes in order to maintain quality of the “Pilbara Blend”. Portside trading resumed in October 2019.
“We finished the year with good momentum, particularly in our Pilbara iron ore operations and in bauxite, despite having experienced some operational challenges in 2019, further strengthening our pipeline of opportunities,” Rio Tinto chief executive Jean-Sebastien Jacques said in a public statement.