By Rhiannon Hoyle
Rio Tinto on Friday said first-quarter iron-ore shipments will be affected by flood damage from a tropical cyclone that lashed northwest Australia, but stuck with its full-year guidance for 2025.
Tropical cyclone Sean brought heavy rain and flooding to parts of the coastline of western Australia's mineral-rich Pilbara region, impacting Rio Tinto's rail and port operations.
The Anglo-Australian company is one of the world's biggest producers of the steel ingredient, alongside Brazil's Vale. It relies on iron-ore sales for the majority of its earnings.
Rio Tinto said a railcar dumper at the East Intercourse Island port facility, or EII, which shipped 45 million metric tons of the company's iron ore in 2024, was flooded.
"Initial indications suggest the dumper at EII could be offline for three to four weeks, as rectifications works are required to repair flood damage," Rio Tinto said.
Recovery works more broadly across its iron-ore infrastructure are progressing and most of its rail and port operations are running again, the company said.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
January 23, 2025 17:33 ET (22:33 GMT)
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