News: RIO UPDATE 1-Rio Tinto's quarterly iron ore shipments rise 3.8%

(Adds details on production)

Jan 17 (Reuters) - Rio Tinto (RIO) on Tuesday said its shipments of iron ore rose slightly in the final quarter of 2022, benefiting from a continued ramp-up at its Gudai-Darri mine in Western Australia.

The Anglo-Australian miner, which looks set to keep its position as the world's biggest iron ore producer, said the Gudai-Darri mine is expected to reach its nameplate capacity on a sustained basis during 2023.

Iron ore shipments for the final quarter of 2022 were 87.3 million tonnes (Mt), a 3.8% rise. This made for full-year shipments of 321.6 Mt, beating a Visible Alpha consensus estimate of 320.2 Mt.

Rio Tinto maintained its full-year iron ore shipments forecast of 320 Mt to 335 Mt.

For mined copper, Rio raised its 2023 production guidance to 600 thousand tonnes (kt) to 655 kt, up from a prior guidance of 550 kt to 600 kt.