April 17 (Reuters) - Anglo-Australian miner Rio Tinto Ltd (RIO) on Friday posted a 5.5% rise in quarterly iron ore shipments, boosted by strong production in March that more than offset damages caused by a tropical cyclone in the Pilbara region earlier in the quarter.
The world's second-largest miner of iron ore shipped 72.9 million tonnes of the commodity during the quarter ended March 31, compared with 69.1 million tonnes a year earlier. UBS had expected shipments of 74.4 million tonnes.
The miner lowered its 2020 spending to $5 billion to $6 billion from its earlier guidance of $7 billion, partly due to the COVID-19 crisis and in part due to favourable currency impact from a stronger U.S. dollar, it said.
April 17 (Reuters) - Anglo-Australian miner Rio Tinto Ltd (RIO)...
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