Rio Tinto's full-year Pilbara iron ore shipments are expected to be at the lower end of its 338 million to 350 million tonne guidance after Tropical Cyclone Veronica damaged its Cape Lambert port facility.
The mining giant said on Monday its Pilbara operations are resuming after Veronica passed last month but that disruption and repair - combined with January's fire at the same facility - will result in a combined loss of 14 million tonnes of production.
Rio Tinto said it has declared force majeure on some contracts and is working with its customers to minimise disruption in supply.
Rio's ASX-listed shares were up 1.5 per cent to $99.37 at 1210 AEDT, hitting fresh 11-year highs.
The stock is up 26.7 per cent this calendar year against a backdrop of rising iron ore and copper prices, and is on course to hit $100 for the first time since August 2008.
