Rio Full-Year Iron Ore Shipments Rise to Record After Rail Boost

(Bloomberg) — Rio Tinto (LON:) Group reported full-year iron ore shipments rose to a record as the second-biggest exporter benefited from improvements to its rail network and other productivity upgrades.

Exports from Western Australia advanced 1 percent to 330.1 million metric tons in 2017, from 327.6 million tons a year earlier, London-based Rio said Tuesday in a production report. That beat a 329.3 million ton median estimate among five analysts surveyed by Bloomberg.

Shipments in the three months to Dec. 31 jumped 3 percent to 90 million tons, from 87.7 million tons a year earlier, beating a 88.7 million ton median estimate among six analysts.

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