RIO TINTO is resuming operations at its Western Australian iron ore mines following a two-week closure to cut production.
The miner shut down its Pilbara rail network and 11 WA mines from 22 December 2008 to slash production by about 10%.
Rio Tinto chief executive, Tom Albanese, says the move was prompted by reduced demand for iron ore from steel mills in China.
Shipments to its existing Asian customers were retrieved from stockpiles at port loading facilities during the closure.
Albanese says the slowdown in demand is expected to be “short and sharp” and is optimistic it will bounce back throughout the year.
Add a comment