Report: Rio Tinto iron ore loads up 6 percent on rail improvements

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RioTinto
A screen image capture from a You Tube video recently posted by Rio Tinto of its first crewless train in Australia.
Rio Tinto
PERTH, Australia — The Rio Tinto mining company has attributed an almost six percent increase in iron ore hauled to improvements in its Western Australia railroad network.

Rio Tinto moved 85.8 million tons of iron ore in the third quarter of 2017 — almost six million tons more than the 80.9 million tons recorded in 2016’s third quarter. Total 2017 third quarter shipments exceeded the forecast for 84.6 million tons.

This strong third quarter is a welcome change from a sluggish first half of the year. Poor weather and infrastructure problems plaguing the railroad network prevented it from operating at full capacity, according to Reuters.

"The business performed very well in the September quarter, with a strong quarterly production performance and a wave of productivity improvements embedded through our operations," Rio Tinto Chief Executive Jean-Sebastien Jacques said in a statement.

Rio Tinto’s copper production did not fare as well: Production delays at a Chile mine caused the company to fall about 50,000 tons short of its predicted 500,000 to 550,000-ton output. However, the company is still forecast to bring in about $39.3 billion in 2017, a 15 percent growth over 2016’s revenue.

Rio Tinto has made headlines for its efforts to automate its railroad infrastructure. In early October, the company announced that it had carried out a test of a driverless, or crewless, train for the first time.

See the original article online.

NEWSWIRETrains News Wire

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