Mining giant Rio Tinto on Thursday lowered its guidance on volumes of iron ore it expects to ship from the key Pilbara producing region in Australia for the third time since April.
“One of the things we really like in the mining sector at the moment is that large companies like Fortescue are returning cash to shareholders, and not investing in new capacity"
It now expects to produce between 320 and 330 million tonnes of the steel making ingredient in 2019, down from a previous guidance of 333 to 343 million tonnes.
Wet processing at Brucutu was suspended in early February at the request of local prosecutors following the tailings dam disaster at Brumadinho, which left 243 dead.