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Rio Tinto Reaffirms Confidence In Outlook For Demand

MELBOURNE -(Dow Jones)- Rio Tinto Ltd. (RIO), one of the world's largest mining companies, told investors Thursday that it is slightly more confident about the outlook for commodities demand. Chairman Jan du Plessis said short-term volatility is expected, but the company is well prepared to weather this. "Overall, we are somewhat more confident than six months ago," du Plessis told the company's annual shareholders meeting in Brisbane. "Over the longer term, we continue to believe the outlook remains strong, with demand for many of the products we produce expected to double over the next 20 years." The chairman said that while growth in China--the world's biggest consumer of steel, iron ore and a number of other commodities--has slowed, it remains favorable when compared with global economic growth. At the same time, there are promising signs of a recovery in the U.S. that has improved the global picture compared with half a year ago, he said. However, du Plessis said Europe remains a concern. "Whilst the European Central Bank has in recent months managed the sovereign debt crisis in Europe well, recent events have shown that the situation is clearly not resolved and the potential for contagion continues to linger," he told the meeting, which was webcast. -By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094; robb.stewart@dowjones.com

Stock News for Companhia Vale (RIO)
DateTimeHeadline
08/29/201403:48:27LONDON MARKETS: Tesco Slides After Warning, Curbs FTSE 100 Gain
08/28/201414:15:12LONDON MARKETS: FTSE 100 Snaps Two-day Winning Streak As Miners...
08/28/201414:15:05EUROPE MARKETS: Deutsche Bank Falls After Fine; Essilor Rallies:...
08/28/201408:12:47EUROPE MARKETS: Bouygues Falls After Warning; Essilor Rallies:...
08/22/201413:09:32EUROPE MARKETS: Hugo Boss Climbs; Oil Stocks Drop: Europe Movers
08/22/201412:27:52LONDON MARKETS: FTSE 100 Ends Choppy Day Lower As Miners Weigh
08/21/201420:22:17Iluka Profit Falls, But Signals Improved Rutile Outlook
08/21/201412:18:43EUROPE MARKETS: Raiffeisen Rallies, Miners Slip: Europe Movers
08/21/201412:17:19LONDON MARKETS: Miners Drop In London After Weak China PMI
08/21/201403:44:17LONDON MARKETS: Miners Slide In London After Weak China PMI
08/18/201417:36:49ADR Shares End Higher; Rio Tinto Shares Trade Actively
08/18/201405:50:39Rio Tinto Weighs Bougainville Copper Stake
08/17/201421:40:23Rio Tinto Reviews Options for Bougainville Stake
08/17/201420:33:15Rio Tinto Reviews Options for Bougainville Copper Stake
08/14/201404:23:25LONDON MARKETS: Banks Rise, Miners Stumble In London Trade
08/13/201412:33:07EUROPE MARKETS: Admiral Drops, E.On Rises In European Trading
08/13/201412:29:15LONDON MARKETS: Pound Hit, U.K. Stocks Up As Rate Hike Appears...
08/13/201411:16:33LONDON MARKETS: Pound Slides, U.K. Stocks Up After Weak BOE Wage...
08/11/201412:51:09EUROPE MARKETS: European Stocks Rise As Ukraine Tensions Ease
08/11/201412:49:43LONDON MARKETS: U.K. Stocks Rise; Rio Tinto Among FTSE Leaders

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