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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
04/22/201413:06:07LONDON MARKETS: Glaxo, AstraZeneca Lead U.K. Stocks To Two-week...
04/22/201409:44:35LONDON MARKETS: Glaxo, AstraZeneca Lead Gains In U.K. Stocks
04/14/201422:10:17Rio Tinto Iron-Ore Output Drops in Adverse Weather
04/13/201420:53:51GlencoreXstrata Sells Las Bambas Mine to Chinese Consortium For...
04/08/201403:40:29Antofagasta Says Price of Copper May Have Found a Bottom
04/08/201401:39:12Antofagasta CEO Says Price of Copper May Have Found a Bottom...
04/07/201417:52:38ADR Shares End Mixed; Rio Tinto Shares Active
04/07/201410:05:11Rio Tinto Exits Massive Alaskan Copper-Gold Project
04/02/201418:27:45Vale Suspends Transporting Coal From Mozambique Mines -- Update
03/31/201410:25:57LONDON MARKETS: FTSE Rises For Second Day As Miners Push Higher
03/27/201413:34:09LONDON MARKETS: FTSE Down On Retail Data, Losses For HSBC, RBS
03/27/201409:52:14LONDON MARKETS: U.K. Stocks Fall, With HSBC, RBS Down After Fed...
03/26/201413:32:40EUROPE MARKETS: Europe Stocks Higher As ECB Stokes Stimulus Hopes
03/25/201421:40:50Australia Sees Resource Export Earnings Rising Sharply
03/25/201413:20:37EUROPE MARKETS: European Stocks Jump Most In Three Weeks
03/25/201411:19:10EUROPE MARKETS: European Stocks Shrug Off Ifo Survey
03/24/201415:36:22LONDON MARKETS: London Stocks Fall After Mixed Global PMI Data
03/24/201415:19:15U.S. Stock Futures Rise
03/21/201413:26:13LONDON MARKETS: FTSE 100 Posts First Weekly Rise In A Month
03/21/201413:15:26LONDON MARKETS: London Stocks Gain, Move Toward A Weekly Rise

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