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Rio Tinto resumes operations at Western Australia's Dampier port after five weeks
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Rio Tinto resumes operations at Western Australia's Dampier port after five weeks
Mar 2, 2025 5:58 PM

*

2025 full year iron ore shipment guidance remains

unchanged

*

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)

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