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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; [email protected]

Stock News for Companhia Vale (RIO)
DateTimeHeadline
02/24/201702:04:00Australia Stocks Led Lower by Miners
02/22/201703:02:00Commodities Report: Mining Back to Unearthing Profit -- WSJ
02/21/201716:26:00Mining Companies Soar Back to Profit--3rd Update
02/21/201712:29:00Mining Companies Soar Back to Profit--2nd Update
02/21/201703:02:00Copper's Shine Returns Mining Firms Ride Copper Copper Pays Off...
02/19/201709:43:00Mining Giants Ride Copper's Wave
02/09/201717:28:00Shell CFO Among 3 Directors Named to Rio Tinto Board
02/09/201710:52:00Workers at BHP Billiton Copper Mine In Chile Go On Strike...
02/08/201705:16:00Rio Tinto Rewards Investors After Return to Profit
02/08/201701:42:00Rio Tinto Returns to Profit, Plans Share Buyback
02/07/201720:28:00Workers at World's Biggest Copper Mine Prepare for Strike
02/07/201700:34:00Rio Tinto Gifts Bunder Diamond Project to Government of Madhya...
02/04/201718:15:00Rio Tinto, Other Miners Get Pickup From Prices
02/04/201707:29:00Rio Tinto, Other Miners Get Pickup From Prices
02/01/201704:28:00Savannah Resources: Ravene Drill Program Completed at Mutamba
01/24/201717:52:00ADRs End Mostly Higher; BT Trades Actively
01/24/201710:25:00Rio Tinto Unloads Most of Its Coal Assets in $2.4 Billion Deal...
01/24/201704:49:00Rio Tinto to Sell Coal & Allied
01/16/201717:27:00Rio Tinto Annual Iron Ore Shipments Rise
01/09/201714:01:00The Law Offices of Howard G. Smith Announces the Filing of a...

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