*
2025 full year iron ore shipment guidance remains
unchanged
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Extent of the outage to not let co reach mid point of
guidance -
Analyst
By Roshan Thomas, Melanie Burton
March 3 (Reuters) - Rio Tinto said on Monday
that its iron ore export facility in Western Australia's Dampier
port resumed operations after being offline for over five weeks
due to flooding from tropical cyclones.
"A railcar dumper at the East Intercourse Island (EII) port
facility was flooded when Tropical Cyclone Sean delivered record
rain... Dumper operation at EII resumed last week and the first
ship was loaded today," Rio said in a statement.
Rio, in its full-year results, had stated it expects to record
total losses of 13 million metric tons of iron ore due to
tropical cyclones that have hit Australia's west coast and
disrupted shipments.
"The extent of the outage suggest they won't be able to get
to the midpoint of guidance," said RBC analyst Kaan Peker in
Sydney.
Rio, world's biggest iron ore producer, also kept its
full-year iron ore shipment guidance from Western Australia for
2025 unchanged at 323 million to 338 million metric tons.
The cyclone season in Western Australia usually runs from
November to April.
"As the system rebalances and normal operations resume, an
update will be provided in the first quarter operations review
on April 16", Rio said in a statement.
Rio had reported underlying earnings of $10.87 billion in
February, missing Visible Alpha consensus estimate of $11
billion.
Shares of the mining giant were up 1.9% as of 0134 GMT,
while the broader benchmark ASX 200 was up 0.3%.
(Reporting by Roshan Thomas in Bengaluru and Melanie Burton in
Sydney; Editing by Jamie Freed and Varun H K)