RIO has released its Q4 ’14 production report and all that matters is iron ore:
Pilbara operations
2014 production of 280.6 million tonnes (Rio Tinto share 224.9 million tonnes) was 12 per cent higher than the same period in 2013 and set a new annual record, driven by the early completion of the 290 million tonnes per annum (Mt/a) expansion project in the first half and increased mined production. Almost 90 per cent of the additional 30 million tonnes produced in 2014 has gone directly into the premium Pilbara Blend, the industry reference for the 62 per cent Fe market.Pilbara sales
Record sales of 288.3 million tonnes (Rio Tinto share 231.5 million tonnes) in 2014 were 18 per cent higher than in 2013. Sales in 2014 exceeded production by around eight million tonnes due to the drawdown of stockpiled iron ore inventory built at Pilbara mine sites in previous years to facilitate an accelerated ramp-up of the expanded port and rail facilities to 290 Mt/a.
