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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
04/24/201512:36:12LONDON MARKETS: FTSE 100 Advances As HSBC Shares Jump
04/24/201506:59:12LONDON MARKETS: FTSE 100 On Track For A Weekly Advance; HSBC...
04/24/201504:12:46LONDON MARKETS: FTSE 100 Rises, On Track For A Weekly Advance
04/23/201513:24:28LONDON MARKETS: FTSE 100 Turns Higher As Miners Climb
04/23/201513:18:57LONDON MARKETS: FTSE 100 Turns Higher As Miners Climb
04/22/201509:22:04Rio Tinto plc Receives Outperform Rating from BNP Paribas (RIO)
04/22/201500:39:18BHP Iron Ore Output Rises Despite Glut Fears
04/21/201512:22:18LONDON MARKETS: FTSE 100 Rises As Sky Shares Jump, But Rio Tinto...
04/21/201509:34:46Rio Tinto plc Stock Rating Reaffirmed by JPMorgan Chase & Co...
04/21/201509:25:24RBC Capital Reaffirms "Sector Performer" Rating for Rio Tinto...
04/21/201509:22:53LONDON MARKETS: FTSE 100 Rises As Sky Shares Jump, But Rio Tinto...
04/21/201504:17:08LONDON MARKETS: FTSE 100 Climbs As ARM, Sky Bounce Higher
04/21/201503:37:27Rio Tinto plc Lowered to Equal Weight at Barclays (RIO)
04/21/201500:00:19Rio Tinto Iron-Ore Shipments Set to Rise
04/20/201523:54:04Rio Tinto Iron-Ore Shipments Set to Rise After Weak Start to...
04/20/201522:50:55Rio Tinto Quarterly Iron-Ore Shipments Fall
04/20/201518:00:30EUROPE MARKETS: European Stocks Buoyed By China Stimulus Move;...
04/20/201517:59:57LONDON MARKETS: Miners Lead Gains On FTSE 100 As China Aims To...
04/20/201517:34:32LONDON MARKETS: Miners Lead Gains On FTSE 100 As China Moves...
04/20/201511:04:55EUROPE MARKETS: European Stocks Buoyed By China Stimulus Move...

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