Global iron ore giants Vale and Rio Tinto have successively released their first-quarter production and sales data.
　　Rio Tinto’s iron ore production declined slightly in the first quarter. The company reported that its Pilbara iron ore output for the first quarter totaled 77.9 million tons (with Rio Tinto’s share amounting to 66.1 million tons), a 2% decrease compared to the same period in 2023. While mining volumes were affected by the expected depletion of certain mines—particularly the Yandicoogina mine—compared to the first quarter of 2023, increased productivity in other regions partially offset this decline.
　　Rio Tinto stated that it will continue to focus on asset management and improving mine health conditions, and expects to further boost productivity within the year. In the first quarter, iron ore shipments from the Pilbara totaled 78 million tons (Rio Tinto’s share was 66.1 million tons), a 5% decrease compared to the first quarter of 2023. The decline in shipments was mainly due to adverse weather conditions affecting ports, resulting in a smaller reduction in inventories compared to the previous year, as well as a slight drop in mine production.
　　Jakob Stausholm, CEO of Rio Tinto, said that in the first quarter, Rio Tinto’s global operations delivered solid operational performance while navigating seasonal challenges, with both bauxite and primary aluminum businesses showing improvement. “Our full-year guidance remains unchanged across all our products. We continue to focus on growth in materials for the energy transition, with further production increases from the Oyu Tolgoi underground mine, Matalco achieving its first full-quarter production of recycled aluminum, and the Simandou high-grade iron ore project in Guinea steadily advancing.”
　　In the first quarter, Vale’s iron ore sales posted strong growth. According to data recently released by Vale, in the first quarter of 2024, Vale’s iron ore sales were robust, with volumes increasing by 15% year-on-year. The company’s iron ore operating performance continued to improve as well. In the first quarter, Vale’s iron ore production reached 70.8 million tons, up 6% year-on-year. Iron ore sales totaled 63.8 million tons, representing a 15% increase over the same period last year.