Rio Tinto has seen a modest year-on-year increase of 3% in full-year iron ore shipments, according to figures released Tuesday morning.

The Australian mining giant said it shipped some 327.6mt last year, with exports up just 1% in the last three months of 2016 to 87.7mt.

However, Rio Tinto reported a 6% year-on-year increase in iron ore production to 329.5mt, helped by a 4% increase in the last to 85.5mt.

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