Rio Q1 ironore shipment and production declines
Need to lift operational performance, CEO says
Flags risk of a resurgence of COVID19 lockdowns in China

SYDNEYBENGALURU, April 20 Reuters Rio Tinto on Wednesday reported lowerthanexpected iron ore shipments in the first quarter and warned of risks from sustained high inflation, a resurgence of COVID19 lockdowns in China and a prolonged RussiaUkraine war.

Labour shortages and supply chain snags impeded the AngloAustralian mining giant39;s efforts to ramp up its Pilbara operations in Western Australia in the first three months of the year.

Production in the first quarter was challenging as expected, reemphasising a need to lift our operational performance, Rio Tinto Chief Executive Jakob Stausholm said in a media statement after the company released its firstquarter production numbers.

The world39;s biggest iron ore producer shipped 71.5 million tonnes Mt of the steelmaking commodity in the three months to March 31, compared with 77.8 Mt a year earlier and a Visible Alpha consensus estimate of 76 Mt.

Production for the quarter stood at 71.7 Mt, down 6.2 from a year earlier and 15 from the previous quarter.

Not until early March did the mineralrich state of Western Australia lift hardline border restrictions put in place to curb the spread of COVID19. The measures left Rio and other miners struggling to hire mine workers and train drivers even as pentup demand fuelled a rally in commodity prices.

The continuing…