April 16 (Reuters) - Australian miner Rio Tinto Ltd (RIO) on Tuesday reported a 14 percent drop in quarterly iron ore shipments and cut its 2019 shipments estimate on disruption caused by a tropical cyclone which hit its export terminal in Western Australia last month.
Rio, the world's No. 2 miner of the steelmaking material, cut its annual iron ore shipments estimate to a range of 333 million to 343 million from a range of 338 million to 350 million tonnes announced earlier.
Rio shipped 69.1 million tonnes in the quarter ended March 31, down from 80.3 million tonnes last year, it said in a statement.
Goldman Sachs had estimated shipments of 74.7 million tonnes for the period.
April 16 (Reuters) - Australian miner Rio Tinto Ltd (RIO) on...
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