Shares of Rio Tinto Group (RIO) gained over 3% on Monday morning after the mining giant said it resumed key iron ore port operations following tropical cyclone Narelle.
The stock is currently trading at $89.28, up $2.64 or 3.05%, on the NYSE. It opened at $90.00 after closing the previous session at $86.64. The stock has traded between $51.67 and $101.53 over the past 52 weeks.
Rio Tinto said its Pilbara iron ore port operations have resumed after Tropical Cyclone Narelle passed through Western Australia.
Ship loading restarted at East Intercourse Island, Parker Point, and Cape Lambert B, while repairs are ongoing at Cape Lambert A, with operations expected to resume shortly.
The company estimates recent weather events, including a prior cyclone, impacted shipments by around 8 million tonnes, but it expects to recover about half of those volumes.
Despite the disruption, Rio Tinto maintained its 2026 shipment guidance of 323 million to 338 million tonnes, signaling limited long-term impact.
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