Rio said it expected iron ore shipments for the year to be at the upper end of its range of 330 million to 340 million tonnes, thanks to productivity improvements and fewer weather-related disruptions compared to Q2 2017.
The agreement, which could still collapse, will see Freeport give up majority control but remain the operator of the Grasberg mine, located in the country's eastern province of Papua, as Jakarta seeks to gain greater control over its mineral wealth.
Canada's Barrick Gold Corp lowered its full-year copper production forecast on Wednesday while increasing its cost estimates, saying the change reflected operational challenges and planned work at its Lumwana mine in Zambia.
Private equity still has significant opportunities to invest in mining as companies cut debt and rebuild their balance sheets even as the sector recovers, mining specialist Denham Capital said.
