Rio Tinto Shares Jump 3.6% as Iron Ore Ports Restart After Cyclone
Rio Tinto shares rose 3.6% to outperform the broader mining sector as the FTSE 100 opened week 13 points higher above 9,980. The company’s Pilbara iron ore ports, closed on March 24 due to Tropical Cyclone Narelle, resumed loading on March 28 with repairs under way at Cape Lambert A.
1. Share Price Uptick
Rio Tinto shares climbed 3.6%, outperforming Glencore’s 0.9% gain, as the FTSE 100 opened 13 points higher above 9,980, reflecting strong investor demand for mining stocks.
2. Port Operations Resumed
All four Pilbara iron ore port terminals, closed on March 24 due to Tropical Cyclone Narelle, resumed ship loading on March 28, with safety assessments confirming no personnel injuries and minimal infrastructure damage.
3. Repair Status
Repair crews are addressing damage at Cape Lambert A, with ongoing works to restore ship-loading infrastructure to full capacity.