Rio Tinto has sharply increased iron ore shipment

​In Q3 2015 Rio Tinto increased iron ore shipment by 17% against Q3 2014.

The second largest mining company of the world Rio Tinto announced of the growth of iron ore shipment in natural terms by 17% to 91.3 mln tons in Q3 2015. The company said it plans to go on the program of a significant increase of its extraction capacities (up to 340 mln tons) on the results of the year.

In Jan-September 2015 Rio Tinto increased iron ore shipment (including the volumes of the third companies) by 11% to 240.4 mln tons against Jan-September 2014.

The production growth in Q3 rose to 12% against Q3 2014. The output of saleable ore reached 86.1 mln tons in Q3. Thus the company’s quarterly shipment exceeded the extraction level by 5.2 mln tons.

Iron ore price fell by almost 75% for the past 4 years making the mining companies cut the expenditure.

The largest producers of iron ore raw materials said that they have reached the expenditure for iron ore extraction of $10-15 and plan to overcome any price changes.

Today the iron ore price is $53.20/ton.