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Rio Tinto Once Again Cuts 2019 Iron Ore Shipments Outlook

Anglo-Australian mining giant Rio Tinto Plc (RTNTF,RIO,RIO.L, RTPPF) further reduced its guidance for iron ore shipments from the Pilbara region of Australia in fiscal year 2019. The company said its iron ore business is currently experiencing mine operational challenges, particularly in the Greater Brockman hub in the Pilbara.

Rio Tinto reduced Pilbara iron ore shipments guidance for fiscal year 2019 to a range of 320 million tonnes - 330 million tonnes from the previous outlook of 333 million tonnes - 343 million tonnes.

In April 2019, the company cut Pilbara iron ore shipments guidance for fiscal year 2019 to a range of 333 million tonnes - 343 million tonnes from the prior estimation of 338 million tonnes - 350 million tonnes.

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