December quarter production from Rio’s Pilbara operations of 83.6m tonnes was a 4 per cent decline on the September quarter, as Rio continued its major rail maintenance program, and 3 per cent below the December period in 2018.
Despite the operational challenges, the cash kept rolling in for the company on the back of higher iron ore prices.
READ MORE:Rio flags shift in tack in search for growth|Rio’s downgrade woes worsen
Rio said it received an average $US79 a tonne from its iron ore, before shipping charges, up 37 per cent on the previous year.
so it seems RIO's grade is slipping.
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