Miner Rio Tinto has lowered its forecast for the volume of iron ore it expects to ship from the Pilbara region after tropical cyclone Damien hit Australia’s west coast.
The company said it is resuming operations following the passing of the cyclone and that it will take time for operations to return to normal.
The Anglo-Australian miner now expects Pilbara shipments in 2020 between 324 million tonnes and 334 million tonnes, lower than its previous outlook of 330 million tonnes to 343 million tonnes.
“The cyclone caused infrastructure damage across our entire Pilbara network, including impact to access roads, electrical and communications infrastructure and accommodation,” the company said.
Rio last month reported a 3.0 per cent drop in iron ore shipments for 2019.
The company’s London-listed shares were about one per cent higher.