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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
08/21/201420:22:17Iluka Profit Falls, But Signals Improved Rutile Outlook
08/21/201412:18:43EUROPE MARKETS: Raiffeisen Rallies, Miners Slip: Europe Movers
08/21/201412:17:19LONDON MARKETS: Miners Drop In London After Weak China PMI
08/21/201403:44:17LONDON MARKETS: Miners Slide In London After Weak China PMI
08/18/201417:36:49ADR Shares End Higher; Rio Tinto Shares Trade Actively
08/18/201405:50:39Rio Tinto Weighs Bougainville Copper Stake
08/17/201421:40:23Rio Tinto Reviews Options for Bougainville Stake
08/17/201420:33:15Rio Tinto Reviews Options for Bougainville Copper Stake
08/14/201404:23:25LONDON MARKETS: Banks Rise, Miners Stumble In London Trade
08/13/201412:33:07EUROPE MARKETS: Admiral Drops, E.On Rises In European Trading
08/13/201412:29:15LONDON MARKETS: Pound Hit, U.K. Stocks Up As Rate Hike Appears...
08/13/201411:16:33LONDON MARKETS: Pound Slides, U.K. Stocks Up After Weak BOE Wage...
08/11/201412:51:09EUROPE MARKETS: European Stocks Rise As Ukraine Tensions Ease
08/11/201412:49:43LONDON MARKETS: U.K. Stocks Rise; Rio Tinto Among FTSE Leaders
08/11/201411:09:17LONDON MARKETS: U.K. Stocks Rise As Geopolitical Tensions Ease
08/11/201409:51:05EUROPE MARKETS: Europe Stocks Rise As Ukraine Tensions Ease
08/11/201404:05:32LONDON MARKETS: U.K. Stocks Rise After Reaching Nearly Four-month...
08/08/201412:52:07U.S. Stock Futures Edge Higher
08/07/201413:09:12LONDON MARKETS: U.K. Stocks Pull Back After BOE; Carnival Rises
08/07/201408:47:47LONDON MARKETS: U.K. Stocks Pare Losses After BOE; Rio Tinto...

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