Rio Tinto sees 2023 iron ore shipments in same range as current yr
Rio Tinto
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12:40 24/12/24
0.17%
8.00p
Rio Tinto said iron ore shipments next year would be in the same range as current-year guidance, but warned of rising costs.
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The mining giant said it expected to ship between 320m-335m tonnes of ore in 2023. It also forecast unit cost of $21-$22.5 per tonne, up from $19.5-$21 per tonne.
It added that it planned to invest a further $600m in renewable energy assets in the Pilbara region of Western Australia - as part of its aim to halve its carbon emissions by 2030 – including the construction of two 100 megawatt solar power facilities and a 200-megawatt hour on-grid battery storage by 2026.
The projects will cut gas costs by about $55 million per year at current prices, it said.
Reporting by Frank Prenesti for Sharecast.com