Rio Tinto plc (RIO,RIO.L,RTPPF.PK) reported that its first-quarter global iron ore shipments increased 7 percent on an year-over-year basis. Global iron ore production rose 4 percent from last year. The company also said its 2013 production guidance is unchanged at approximately 265 million tonnes from global operations in Australia and Canada, subject to weather constraints. Year to date cash cost savings are tracking on target as the impact of headcount reductions and productivity gains are gathering pace, the company said.
Rio Tinto chief executive Sam Walsh said the company's operations has achieved a solid performance in the first quarter, recovering rapidly from the seasonal weather disruptions. "At Bingham Canyon, last week's pit wall slide will have a significant impact on our copper production this year. A recovery plan is being implemented to minimise the economic impact. Our two major growth projects in the Pilbara and in Mongolia achieved significant milestones in the first quarter. Both of these industry leading projects remain on track for first production this year and are poised to deliver attractive returns for our shareholders in the years ahead," Sam Walsh said.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.