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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
06/29/201622:19:00Rio Tinto Walks Away From Closed Bougainville Copper Mine
06/29/201603:01:00Savannah Resources, Rio Tinto Extend Joint Venture Deadline
06/22/201620:12:00Australia's Fortescue Deepens Debt Repayments -- Update
06/21/201618:39:00ADRs End Higher; UBS Rises
06/21/201604:50:00Rio Tinto Restructures Management Team
06/21/201603:58:00Rio Tinto Restructures Management Team, Iron Ore Chief to Leave
06/07/201608:45:00Rio Tinto to Purchase $3 Billion Worth of Notes
06/06/201603:45:00Australia Stocks Lifted by Miners After U.S. Dollar Drops
06/06/201601:00:00Shares Slip in Japan, Gain in Australia After U.S. Jobs Report
06/01/201617:25:00Rio Tinto Upbeat on Lithium, Says Serbia Project Strategically...
05/27/201603:41:00Australia Shares End Higher, Marking Seventh Week of Gains
05/24/201603:58:00Rio Tinto Appoints New Head of Technology and Innovation
05/24/201603:37:00Rio Tinto PLC Statement re senior management changes
05/17/201600:40:00High Oil Prices Help Sentiment in Asia-Pacific Markets
05/17/201600:03:00Asian Shares: High Oil Prices Help Sentiment in Asia-Pacific...
05/12/201600:30:00Asia Stocks Dented by Weaker U.S., Japan Earnings
05/11/201616:50:00Miner Faces Scrutiny for Payments in Africa
05/11/201611:36:00Global Mining, Metals M&A Activity Continues to Shrink
05/10/201618:00:00Rio Tinto et Indspire présentent leur programme de bourse de...
05/10/201618:00:00Rio Tinto and Indspire showcase $2 million award program for...

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