Rio Tinto cuts Canada iron ore production estimate on extended plant outage

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Rio Tinto cuts Canada iron ore production estimate on extended plant outage
France Dernières Nouvelles,France Actualités
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Bruce Cockburn: 50 years of music, spirituality and social justice | SaltWire -Rio Tinto reported a rise in quarterly output across its copper and aluminium portfolios on Tuesday, sending its shares 3% higher, even as the miner cut its annual estimate for the Canadian iron ore business due to operational failures.

"Operations at IOC were impacted by extended plant downtime and conveyor belt failures, while we also recovered from wildfires which took place in Northern Quebec in the prior quarter," the Anglo-Australian miner said in a statement. The miner, which generates 70% of its profit from its iron ore operations, saw prices of the commodity improve as top consumer China stepped up its stimulus efforts.

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