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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
10/30/201413:24:13LONDON MARKETS: FTSE 100 Ends Higher After Roller-coaster Day
10/30/201407:44:38LONDON MARKETS: Miners Hammer FTSE 100 As Metals Prices Slide
10/30/201405:08:38LONDON MARKETS: Miners Bruise FTSE 100 As Metals Prices Slide
10/28/201402:48:15Australian Shares Dip on Lower Commodity Prices
10/27/201413:30:27LONDON MARKETS: Banks Knock FTSE 100 Lower After Stress Tests
10/23/201412:38:04LONDON MARKETS: FTSE Rides European Optimism, But Tesco Slumps
10/23/201408:10:11Rio Tinto Extends CEO, CFO Tenure
10/23/201403:55:21LONDON MARKETS: Tesco Slumps, Sends FTSE Lower For First Time...
10/22/201410:04:35LONDON MARKETS: Glaxo Gives FTSE 100 A Shot In The Arm
10/22/201409:55:11LONDON MARKETS: GSK Lifts FTSE 100 On Earnings, Ebola Vaccine
10/22/201406:50:06LONDON MARKETS: British American Tobacco Knocks FTSE 100 Lower
10/22/201403:58:35LONDON MARKETS: FTSE 100 Hugs The Flat Line Ahead Of BOE Minutes
10/16/201409:39:21Rio Tinto Alcan to Leave Cameroon Aluminum Smelter Joint Venture
10/15/201401:32:29ASIA MARKETS: Asian Shares Mixed; Hong Kong Up On Low China Inflation
10/14/201422:30:24Asian Shares Rise on Bargain Hunting
10/14/201415:39:42LONDON MARKETS: Burberry Group Leads Losses Among U.K. Stocks
10/14/201409:37:16Anglo Pacific Expects Better Royalties From Australia Mine
10/13/201412:14:05LONDON MARKETS: U.K. Stocks Take A Breather From Selling; Rio...
10/13/201404:09:35LONDON MARKETS: U.K. Stocks Resume Their Selloff, But Rio Tinto...
10/10/201416:00:27Glencore Held Preliminary Talks With Cliffs Natural Resources...

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