Rio Tinto produced and shipped 15% less iron ore in the first three months of 2022 in what chief executive Jakob Stausholm said was a challenging period due to Covid.
Guidance for the year was unchanged, as it was for all other metals, at 320-355mln tonnes with an uptick expected in the second half, the mining giant added.
Copper production fell 5% quarter-on-quarter though was ahead of the period a year ago.
Only bauxite and titanium dioxide slag output were higher on a quarterly basis.
"Production in the first quarter was challenging as expected, re-emphasising a need to lift our operational performance,” said Stausholm.
“As we ramp up Gudai-Darri, our iron ore business will have greater production capacity and be better placed to produce additional tonnes of Pilbara Blend in the second half.”
Rio confirmed it has taken full control Queensland Aluminia, a joint venture with Russia’s Rusal following the imposition of sanctions on its partner.
Commodity demand this year had started ‘positively’ said the miner but sustained high inflation, the outbreak of the Russia-Ukraine war, and a resurgence of COVID-19 lockdowns in China were clouding the picture.
“Further downside risks include a prolonged war and other geopolitical tensions, extended labour and supply shortages, and monetary policy adjustments to curb inflation.”