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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
10/16/201409:39:21Rio 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
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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...
10/10/201412:36:32LONDON MARKETS: FTSE 100 Slides To One-year Low After Tumultuous...
10/10/201407:35:10ASIA MARKETS: Asian Shares Drop On Oil Price Decline, Growth...
10/10/201403:58:48LONDON MARKETS: FTSE 100 Heads For One-year Low After Tumultuous...
10/09/201422:40:16Wall Street Drags Down Asian Shares
10/08/201412:13:12LONDON MARKETS: Travel Stocks Slide In London Amid Ebola Scare
10/08/201405:49:30LONDON MARKETS: Travel Stocks Lead FTSE 100 Lower Amid Ebola...
10/07/201418:06:09ADR Shares End Mixed; Rio Tinto Shares Trade Actively
10/07/201412:17:17LONDON MARKETS: FTSE 100 Falls Amid Broader European Selloff
10/07/201410:47:21Glencore Says It's No Longer Considering Rio Tinto Merger
10/07/201407:15:36LONDON MARKETS: Rio Tinto Jumps The Most In Two Years As FTSE...
10/07/201407:10:06Glencore CEO Approached Rio Tinto Chairman on Possible Merger
10/07/201402:30:19Rio Tinto PLC Statement regarding press speculation

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