World No 2 iron ore miner Rio Tinto is in the process of shutting down all its iron ore mines in Australia's Pilbara region for two weeks to cut production by 10 percent by year-end in the face of declining demand from steel mills.
Each of Rio's 11 mines as well as its rail network spanning hundreds of kilometres across the the world's richest iron ore deposit will be placed on care and maintenance for two weeks starting Dec. 22, company spokesman Gervase Greene said.
"This will bring us close to our target of reducing this year's production from the Pilbara to between 170 and 175 million tonnes," Greene said.
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