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Rio Tinto Q3 iron ore shipments climb 6 pct on lift in rail haulage

Reuters - UK Focus

Oct (Shenzhen: 000069.SZ - news) 17 (Reuters) - Global miner Rio Tinto Ltd (Hanover: CRA1.HA - news) on Tuesday said third-quarter iron ore shipments from Australia rose 6 percent from a year ago, aided by improved rail capacity.

Rio Tinto, which competes with Vale SA and BHP Billiton in the seaborne-traded iron ore market, maintained its target to ship 330 million tonnes of the steel-making material in 2017, maintaining its ranking as the world's No. 3 supplier.

Shipments from its Australian mines (Frankfurt: A0BLDP - news) totaled 85.8 million tonnes in the third quarter compared with 80.9 million in the same period a year ago, Rio Tinto said. UBS (LSE: 0QNR.L - news) had forecast third-quarter Australian shipments of 84.6 million tonnes. (Reporting by Shashwat Pradhan in Bengaluru; editing by James Regan, G Crosse)