Global miner Rio Tinto hit its mid-point target for iron ore shipments from Australia in 2016 and kept its guidance of 330 million-340 million tonnes for this year intact.
The world's second-biggest supplier of the steel-making raw material shipped 327.6 million tonnes in 2016 against guidance of 325 million-330 million tonnes, it said.
Guidance for shipments of 330 million-340 million tonnes in 2017 was unchanged.
"Sales in the (fourth) quarter exceeded production by 2.2 million tonnes, primarily drawing down on inventories built at the ports in the third quarter due to maintenance," Rio said in a statement.
Fourth quarter iron ore shipments climbed by 1 percent to 87.7 million tonnes versus the year ago period, the company said.
Shipment levels are closely watched amid volatile global iron ore prices, with the 1.4 billion-tonne-per-year sea-traded market now in balance but threatened by a looming supply glut.