RIO uncorks the iron ore dam

Friday, 16 October 2015

From RIO’s third quarter update:

These figures are a little below market and with a 340mt target for 2015, RIO will have to keep ramping up shipments to roughly 95mt in the final quarter. Its guidance is unchanged so I guess it is confident of making it. That’s material to the market as Roy Hill joins in.

It shows just how much more RIO could pump next year if it wants to. 360mt would be no problem at all. With a good cyclone season and little luck 380 is possible.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.