Rio Tinto warns of significant near-term uncertainty caused by 2019-nCoV outbreak

March 03, 2020 / www.metalbulletin.com / Article Link

Global gross domestic product (GDP) growth and dry bulk trade are both facing uncertainty due to the spread of the novel coronavirus (2019-nCoV), though Chinese government stimulus measures are likely lend much-needed support, iron ore miner Rio Tinto said last week.

"We are currently evaluating the impact of the Covid-19 [disease], which could create significant uncertainty for our business in the near term," the miner said during its financial results announcement on Wednesday February 26.
The miner revised its iron ore guidance for 2020 shipments to 324-334 million tonnes, down from a previous guidance of 330-343 million tonnes due to the impact of cyclone Damien on its Pilbara operations in Australia last month.
Rio Tinto's iron ore shipments stood at 327.4 million tonnes last year.

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