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Commodities

Rio Tinto downgrades Australian iron ore shipment forecast

COVID-19 movement restrictions hamper development of mine projects

Rio Tinto's iron ore shipments were 83.4 million tonnes in July-September, up 2% from the same period last year, but a labor shortage is holding back production.   © Reuters

SYDNEY -- Anglo-Australian miner Rio Tinto has downgraded the shipment forecast of Australian iron ore due to labor shortages and delayed development of coal mines in Western Australia, the company announced on Friday.

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