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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
07/28/201504:28:06Australia Shares End Slightly Down; Energy Stocks Rise
07/23/201509:00:00Industrial Metals and Minerals Stocks under Review -- Uranium...
07/23/201503:50:48Fortescue Deepens Cuts as Iron-Ore Downturn Bites
07/22/201506:50:53Tech, Resources Stocks Weigh on European Markets -- Update
07/21/201503:51:17Australia Shares Extend Gains for Sixth Straight Day
07/20/201504:07:10Australia Shares Rise for a Fifth Straight Session
07/16/201518:01:37ADRs End Higher; National Bank of Greece Declines
07/16/201514:26:21Anglo American Takes up to $4 Billion in Write-Downs -- 2nd Update
07/16/201504:50:10Anglo American Takes up to $4 Billion in Write-Downs -- Update
07/16/201504:00:11Anglo American Takes up to $4 Billion in Write-Downs
07/15/201522:40:45Rio Tinto Trims Iron-Ore Export Target
07/15/201522:12:09Rio Tinto Scales Down Iron Ore Shipment Target-- Update
07/15/201519:21:40Rio Tinto Iron-Ore Shipments Jump 8% for Quarter
07/14/201520:02:38Iron-Ore Trade Quiet as Sellers Hold Cargoes -- Market Talk
07/09/201521:23:18Correction to Energy Resources Article
07/09/201519:23:14Energy Resources Reports 20% Drop in Uranium-Oxide Output
07/08/201518:45:13ADRs End Lower; National Bank of Greece Declines
07/08/201502:52:45Rio Tinto to Ship First Aluminum From Revamped Kitimat Smelter
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

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