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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
04/22/201413:06:07LONDON MARKETS: Glaxo, AstraZeneca Lead U.K. Stocks To Two-week...
04/22/201409:44:35LONDON MARKETS: Glaxo, AstraZeneca Lead Gains In U.K. Stocks
04/14/201422:10:17Rio Tinto Iron-Ore Output Drops in Adverse Weather
04/13/201420:53:51GlencoreXstrata Sells Las Bambas Mine to Chinese Consortium For...
04/08/201403:40:29Antofagasta Says Price of Copper May Have Found a Bottom
04/08/201401:39:12Antofagasta CEO Says Price of Copper May Have Found a Bottom...
04/07/201417:52:38ADR Shares End Mixed; Rio Tinto Shares Active
04/07/201410:05:11Rio Tinto Exits Massive Alaskan Copper-Gold Project
04/02/201418:27:45Vale Suspends Transporting Coal From Mozambique Mines -- Update
03/31/201410:25:57LONDON MARKETS: FTSE Rises For Second Day As Miners Push Higher
03/27/201413:34:09LONDON MARKETS: FTSE Down On Retail Data, Losses For HSBC, RBS
03/27/201409:52:14LONDON MARKETS: U.K. Stocks Fall, With HSBC, RBS Down After Fed...
03/26/201413:32:40EUROPE MARKETS: Europe Stocks Higher As ECB Stokes Stimulus Hopes
03/25/201421:40:50Australia Sees Resource Export Earnings Rising Sharply
03/25/201413:20:37EUROPE MARKETS: European Stocks Jump Most In Three Weeks
03/25/201411:19:10EUROPE MARKETS: European Stocks Shrug Off Ifo Survey
03/24/201415:36:22LONDON MARKETS: London Stocks Fall After Mixed Global PMI Data
03/24/201415:19:15U.S. Stock Futures Rise
03/21/201413:26:13LONDON MARKETS: FTSE 100 Posts First Weekly Rise In A Month
03/21/201413:15:26LONDON MARKETS: London Stocks Gain, Move Toward A Weekly Rise

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