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Rio Tinto Expects 5% Increase In Iron Ore Shipments For 2020

Anglo-Australian mining giant Rio Tinto Plc (RTNTF,RIO,RIO.L, RTPPF) said it expects an increase of up to 5% in iron ore shipments for 2020, compared to 2019 guidance.

The company expects total capital expenditure for 2019 to be $0.5 billion lower than previous guidance at around $5.5 billion, with $0.5 billion deferred into 2020. As a result, guidance for 2020 is around $7 billion. Guidance for 2021 remains unchanged at around $6.5 billion. Guidance for 2022 was included for the first time at around $6.5 billion.

At its investor seminar in London, Rio Tinto said it is well positioned to continue generating strong returns, building on a track record of $32 billion returned to shareholders since 2016.

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