
Investing.com-- Rio Tinto (ASX: RIO ) on Wednesday reported a 13% sequential increase in second-quarter iron ore shipments as it recovered from weather disruptions earlier in the year.
Iron ore shipments for the quarter ended June 30 came in at 79.9 million tonnes, a 13% increase from the previous quarter. However, year-on-year shipments dipped 1% due to ongoing port maintenance.
World’s largest iron ore miner maintained its 2025 iron ore shipment guidance of 323–338 million tonnes and expects volumes to be at the lower end, following cyclones that impacted Q1 output.
Pilbara iron ore production rose 5% year-on-year to 83.7 million tonnes, the highest Q2 output since 2018, driven by improved operational performance.
Copper production rose 15% year-on-year to 229,000 tonnes, supported by strong performance at the Oyu Tolgoi mine in Mongolia. Rio Tinto expects full-year copper output at the higher end of its 780–850 kt guidance range.
A day earlier, the company appointed Simon Trott, head of its iron ore division, as its next chief executive officer. He will succeed Jakob Stausholm, who announced his resignation in May. Trott is set to take over the role on August 25.