Rio Tinto, the global mining giant, has reported an 11% growth in global iron ore shipments (100% basis) to 80.80 million tons (mt) in the first quarter (Q1) of 2016 over the same quarter last year.
Iron ore shipments, however, were down by 12% quarter-on-quarter (q-o-q) compared to Q4 2015, according to a statement issued by the company.
Global iron ore production in Q1 2016 was also up by 13% y-o-y but down by 4% q-o-q, the statement said.
“Global iron ore shipments of 80.8 mt (Rio Tinto share 64.9 mt) were 11% higher than in the first quarter of 2015 due to the completion of some brownfield developments and expanded infrastructure capacity in the Pilbara in 2015, but were lower than the prior quarter due to normal seasonal factors,” the statement said.
Pilbara operations produced 79.9 mt (Rio Tinto share 65.0 mt) in the first quarter of 2016, 12% higher than the same quarter of 2015. Higher y-o-y production reflects the stronger performance following completion of the brownfield developments and infrastructure expansions in 2015. First quarter production was 3% lower than the previous quarter, it added.