Trending: Rio Tinto Iron-Ore Shipments Rose, Narrows Copper Guidance Downward
0933 GMT - Rio Tinto is among the most mentioned companies across news items over the past 12 hours, according to Factiva data, after the miner narrowed its copper-output guidance downward while backing its iron-ore production forecast. The Anglo-Australian miner, a top exporter of iron-ore globally, said it shipped 2% more iron-ore during the second quarter than in the same period a year prior, despite the derailment of a driverless train in May. The world's second-biggest miner by market value also said it has received the approvals needed for its major iron-ore mine in Guinea to progress. The iron ore buried in Guinea's Simandou mountains is the world's largest known high-grade deposit of the commodity that has yet to be tapped. Rio Tinto expects first production there next year. Dow Jones & Co. owns Factiva. (christian.moess@wsj.com)
(END) Dow Jones Newswires
July 16, 2024 05:50 ET (09:50 GMT)
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