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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
05/25/201503:51:11Australia Shares Start Week With Solid Gains
05/22/201515:02:02These Mining Giants Are Throwing in the Towel; Are Iron Ore Prices...
05/20/201506:00:02Gina Rinehart: Wealthier Than Oprah and Almost as Powerful
05/19/201518:14:17ADRs End Lower; Vodafone Edges Down
05/19/201513:18:04LONDON MARKETS: FTSE 100 Climbs Alongside European Markets On...
05/19/201508:45:18LONDON MARKETS: FTSE 100 Climbs Alongside European Markets On...
05/19/201503:23:05Breakthrough for Rio Tinto's $5.4 Billion Oyu Tolgoi Mine Expansion...
05/19/201501:10:11Rio Tinto Set to Expand in Mongolia
05/18/201523:53:50Breakthrough for Rio Tinto's $5.4 Billion Oyu Tolgoi Mine Expansion...
05/18/201519:21:11Oyu Tolgoi Shareholders End Protracted Talks With Agreement
05/15/201505:04:57Australia's Abbott Supports Iron-Ore Probe
05/14/201513:13:25LONDON MARKETS: FTSE 100 Finds Its Footing As Draghi Backs Eurozone...
05/14/201507:24:38LONDON MARKETS: FTSE 100 Slips, With Miners, Glaxo In The Red
05/13/201523:56:09ASIA MARKETS: Australian Shares Fall On Iron-ore Weakness
05/13/201523:50:34Australian Shares Fall on Iron-Ore Weakness
05/13/201523:27:16Asian Shares: Australian Shares Fall on Iron-Ore Weakness
05/12/201517:00:02Are BHP Billiton and Rio Tinto Destroying Their Own Industry?
05/12/201510:19:33Coal of Africa Amends Soutpansberg Coal Asset Purchase Agreement
05/11/201512:39:23LONDON MARKETS: Post-election Pop Fades For FTSE 100 But Not...
05/11/201511:40:06Rio Tinto Digs In as Rival Spins Off

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