LONDON, March 21, 2026, 17:36 UTC
Rio Tinto shares slid on Friday after the company halted operations at its Amrun and Andoom bauxite mines in Northern Queensland, citing Cyclone Narelle’s impact on the region. The Australia-listed stock dropped as much as 4%, touching A$145.36 — a level last seen on Jan. 13.
The shutdown is in focus because the two mines together supply roughly 30 million metric tons of bauxite each year—the raw material for aluminium. Even a brief halt raises questions about deliveries and the upcoming quarter’s profit picture. On Friday in London, Rio Tinto plc closed at 62.46 pounds, according to London Stock Exchange data.
Rio has triggered its cyclone response measures. “We are focused on making sure our people are safe and our operations are secure,” the company said, but it hasn’t specified when things might resume. Reuters
Narelle made landfall on the Queensland coast as a category four, losing strength later the same day. Early damage seemed limited, Premier David Crisafulli noted, but far north Queensland still faced heavy rain, fierce winds and power cuts.
Rio wasn’t the only miner hit. South32 halted work at its Gemco manganese site in the Northern Territory, underscoring how weather threats can ripple fast through northern Australia’s mining sector.
The timing isn’t great. Back in January, Chief Executive Simon Trott pointed to a “step change in bauxite production,” as Rio reported a record 62.4 million tonnes of bauxite output for 2025. Rio Tinto
Investors have been quick to react to bad news lately. In February, Rio’s 2025 underlying earnings landed flat at $10.87 billion, coming in below estimates—lower iron ore prices dulling the impact of copper gains. The stock in London dropped 3.4% that day.
The bauxite market hasn’t found much stability either. Tom Price, who leads commodities at Panmure Liberum, noted that global bauxite prices have slid between 20% and 35% from their 2025 peaks. Guinea, now mulling export quotas, could end up putting more pressure on longer-term demand, he said.
The immediate worry: what starts as a brief safety pause could drag into an extended shutdown if flooding, transport issues, or site repairs derail the timeline. Early official reports indicated cyclone damage appeared limited. Even so, Rio hasn’t committed to a restart date. The London-listed shares? Still down 16.3% from their 52-week peak, despite a 4.2% gain year-to-date.
