SYDNEY, Jan. 18 (Xinhua) -- Australian mining giant Rio Tinto has increased yearly iron ore production from the West Australian (WA) Pilbara by 2 percent, with the company saying they expect that amount to increase even further in 2019.
In a fourth quarter report released on Friday, the global miner announced that they shipped 338.2 million tons of iron ore from the Pilbara in 2018, defying expectations by some experts of a slow down.
Chief executive Jean-Sebastien Jacques said that the company had performed well and would continue to deliver significant returns for shareholders.
"During the year, we further strengthened our asset portfolio, continuing to invest in high quality growth," Jacques said.
"With a firm value over volume' focus and disciplined allocation of capital, we will continue to progress our strategic objectives."
Much of the iron ore goes to China, the company's largest customer, responsible for more than 40 percent of global revenue, and so far having received more than 2 billion tons of iron ore.
In the coming year, Rio Tinto expect to ship between 338 million and 350 million tons from their main mining hub in WA.
