Rio sticks to strategy amid weather woes

Original article by Amanda Saunders
The Australian Financial Review – Page: 13 & 18 : 17-Jul-15

Rio Tinto expects to export 340 million tonnes of iron ore in 2015, compared with previous expectations of 350 million tonnes. Rio has attributed the downgrade to the impact of adverse weather events during the first half of the calendar year, which disrupted production and reduced port capacity. Citigroup estimates that Rio will have to increase its iron ore shipments and fall back on stockpiles to achieve its revised full-year export target. The group’s shares closed 0.3 per cent higher at $A53.31 on 16 July.

CORPORATES
RIO TINTO LIMITED – ASX RIO, CITIGROUP PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP BILLITON LIMITED – ASX BHP