October 15, 2018 / 9:40 PM / a month ago

Rio Tinto Says Q3 production falls on planned maintenance and safety pauses

Oct 16 (Reuters) - Global miner Rio Tinto Ltd said its third-quarter iron shipments fell about 5 percent, hurt by planned maintenance and safety pauses across all operations following a fatality.

Shipments from its Australian mines totaled 81.9 million tonnes in the third quarter compared with 85.8 million in the same period a year ago, the miner said, snapping four consecutive quarters of increase.

UBS had estimated quarterly Pilbara iron ore shipments of 82.5 million tonnes.

Rio, which competes with BHP and Brazil’s Vale SA in the seaborne-traded iron ore market, maintained its target to ship at the upper end of the guidance range of 330 to 340 million tonnes.

Reporting by Aditya Soni in Bengaluru; Editing by Sandra Maler

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