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Pilbara iron ore production was 80.9 million tonnes, while shipments were 82.2Mt.
UBS had tipped shipments of 83.2Mt, though the result was in line with Morgans’ estimates.
Shipments were up 7% over the March quarter and up 6% year-on-year.
Sales exceeded production due to the unwinding of inventory built up during the first quarter.
First half shipments reached 158.9Mt, up 8%, with the average realised price being $US44.50 per wet metric tonne free-on-board, or $48.40/t dry.
Rio said it achieved a run-rate of “close to” 330Mt per annum in the June quarter and maintained guidance at that level.
The Nammuldi incremental tonnes project is set to double capacity to 10Mtpa in the fourth quarter, and Rio will make a decision on the Silvergrass project later this year.
Guidance for next year is 330-340Mt.
First half mined copper production of 282,200t was only 1% higher than the previous period, with Oyu Tolgoi production dropping 10% in the second quarter due to lower grade.
Hard coking coal production dropped 8%, while thermal coal output was in line.
Bauxite production jumped 9% to 23.1Mt, while aluminium output rose by 10% to 1.8Mt.
New Rio Tinto CEO J-S Jacques said the company had delivered another robust quarter of operational performance.
“We continue to focus on value and maximising cashflow from our assets, through both commercial and operational excellence while maintaining capital discipline,” he said.
“This will ensure that Rio Tinto is well-positioned to generate compelling and consistent returns for our shareholders.”
Morgans analyst Adrian Prendergast said it was overall a marginally soft quarter for Rio, but with no surprises.
“A steady quarter versus our estimates, although likely to disappoint on the performance in iron ore,” he said.
“Although a softer quarter, the rise in commodity prices is creating more upside risk to second half earnings that could see Rio keep rallying.
“At this point we see Rio as close to fair value and maintain our hold recommendation.”
Rio shares were up by A34c to $54.48.
