Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Rio Tinto, the worlds second largest metals and mining corporation, has announced a 9% decrease in Pilabara iron ore production, compared to the second quarter of 2020, in its second quarter 2021 production update.
Ongoing Covid-19 restrictions and a tight labour market have impacted the companys ability to access experienced contractors and particular skill sets.
Rio Tinto chief executive, Jakob Stausholm, said: The global economy, in particular China, recovered strongly and we are intensely focused on servicing our customers with as much product as we can. However, we faced some challenges in the first half notably at our Pilbara operations, which were impacted by replacement mine tie-ins and materially higher rainfall.
Bauxite production of 13.7 million tonnes was also lower by 6% compared to the second quarter of 2020, as a result of system instability following severe wet weather in Eastern Australia in the first quarter.
According to the company, it advanced initiatives in the second quarter in line with its low-carbon transition, and to decarbonise its business and value chain, and progress scope 1 and 2 targets, and scope 3 goals.
In addition, Nico Swart, an employee, was tragically killed in a shooting whilst driving to work at Richards Bay Minerals in South Africa on 24 May.
(LON:BEM) Beowulf Mining PLC share price was 0p at 5.5p
(LON:BKY) Berkeley Energia Ltd share price was 0p at 23.5p
(LON:CEY) Centamin PLC share price was 0p at 116.05p
(LON:FRES) Fresnillo PLC share price was 0p at 1124p
(LON:GEMD) Gem Diamonds Ltd share price was 0p at 36.7p
(LON:HOC) Hochschild Mining PLC share price was 0p at 235.4p
(LON:KMR) Kenmare Resources PLC share price was 0p at 303p