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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
07/06/201510:05:025 Stocks to Watch in Commodities
07/01/201516:38:27Rio Tinto CEO Sam Walsh Responds to Critics of Iron-Ore Production
06/29/201504:07:07Australia Shares End 2.2% Lower on Greece Worries
06/22/201505:40:48Savannah Resources Shares Surge on Mozambique JV with Rio Tinto...
06/22/201503:24:06Savannah Resources, Rio Tinto to Create Mineral Sands JV in Mozambique
06/21/201519:29:51ERA Chairman, Directors Quit in Dispute with Rio Tinto
06/20/201516:08:03Is China Going to Use the Mining Downturn to Take Over the Industry?
06/19/201514:07:02You Can See the Next Boom Brewing in BHP Billiton and Rio Tinto's...
06/18/201514:00:093 Stocks to Watch in Copper
06/15/201512:06:02How Drones Are Making Rio Tinto a Better Miner
06/12/201503:56:32Australia Shares End Down 0.2% on Falling Commodities Prices...
06/11/201519:19:06Rio Tinto Refinances US$1.2 Billion of Debt
06/11/201514:00:07Rio Tinto Assessing Potential Noncash Impairment Of $300 Million--Update
06/11/201513:56:48Rio Tinto Assessing Potential Noncash Impairment Of $300 Million
06/10/201514:02:02Thrifty Miners Killed Caterpillar and Joy Global's Sales: Are...
06/09/201503:10:50Australia Shares Post Sixth Straight Fall
06/05/201503:43:20Australia Shares Suffer Worst Week in Three Years
06/04/201506:50:15Glencore May Cut Coal Output Further to Combat Glut
06/04/201503:17:18Australia Shares End Down 1.4%, Extending Gloomy Week
06/02/201503:33:15Australia Shares End Down 1.7% After Absence of Central Bank...

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