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Rio Tinto to Meet Over 25% of Needed Extra Iron Ore Supply by 2018

By Alex MacDonald Rio Tinto PLC (RIO) expects to account for more than 25% of additional global iron ore output over the next seven years, a senior executive at the company said Wednesday, with global iron ore supply needs growing at a rate of at least 100 million metric tons a year in order to meet global demand for the steelmaking raw ingredient. Global population growth, particularly in developing countries, is expected to result in the urbanization of close to 3 billion people into cities between 2010 and 2050, Alan Davies, President of International Operations at Rio Tinto Iron Ore, a unit of the globally diversified miner, said in a presentation for an iron ore conference in Cape Town, South Africa. "The China steel story has a long way left to run, with India and others to follow," Mr. Davies said in his presentation. Mr. Davies noted that 500 million tons of the expected global iron ore supply growth over the next seven years will be used to satisfy iron ore demand growth, while 200 million tons will be used to replace high cost iron ore production that is forecast to shutdown, he said. The presentation was posted on the company's web site Wednesday. -Write to Alex MacDonald at alex.macdonald@dowjones.com

Stock News for Companhia Vale (RIO)
DateTimeHeadline
09/23/201404:11:13Australian Shares Recover as Chinese Helps Ease Growth Worries
09/23/201401:30:35Asian Shares Mixed, Australia Gains
09/23/201401:17:32Correction to Asian Shares Story
09/23/201401:02:08Asian Shares Mixed, Austrailia Gains -- Update
09/22/201418:39:55ADR Shares End Lower; Mechel Shares Trade Actively
09/22/201412:13:15EUROPE MARKETS: European Mining Stocks Hurt By China Growth Worries
09/22/201411:33:20Rio Tinto Raises Cost Of Oyu Tolgoi Underground Mine Expansion-Update
09/22/201411:31:16Correction to Rio Tinto Reduces Cost Of Oyu Tolgoi Expansion...
09/22/201410:12:38Rio Tinto Reduces Cost Of Oyu Tolgoi Underground Mine Expansion
09/18/201418:31:58EUROPE MARKETS: Banks Climb After TLTRO, Siemens Slips: Europe's...
09/18/201418:31:57LONDON MARKETS: FTSE 100 Rises As Scots Head To The Polls
09/18/201407:02:04LONDON MARKETS: FTSE 100 Flat As Scots Head To The Polls
09/17/201417:09:44LONDON MARKETS: FTSE Inches Higher With Eyes On Scotland, Labor...
09/17/201405:03:18LONDON MARKETS: Miners Lift FTSE 100; Eyes On Scotland, Central...
09/15/201409:21:18Correction to China Mining Story on Sept. 11
09/12/201415:21:16LONDON MARKETS: FTSE 100 Edges Up As Key Poll Points To 'no...
09/12/201406:43:12LONDON MARKETS: U.K. Stocks Rise After Poll Points To 'no' In...
09/10/201423:00:11China's Global Mining Play Is Failing to Pan Out
09/05/201404:15:09LONDON MARKETS: Metals Stocks Fall In London, But Weekly Rise...
09/03/201401:14:51LONDON MARKETS: Weir, Tesco Climb As FTSE 100 Edges Up

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