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Rio Tinto Expects Volatility, Says Copper Outlook Positive

By Robb M. Stewart MELBOURNE--Rio Tinto PLC (RIO), which is developing one of the world's largest mines in Mongolia, Thursday said the long-term outlook for copper remains positive even though volatility in commodity prices is likely to persist in the near term. Demand for copper has "plenty of growth potential," Andrew Harding, chief executive of the Anglo-Australian company's copper division, said in a slide presentation released to coincide with a resources conference in Hong Kong. Mr. Harding said the Oyu Tolgoi copper and gold project near Mongolia's border with China is now 85% complete and on track for first commercial production by 2013. The first phase of the project's development will see the construction of an open-pit mining operation, and will in time be followed by underground development, expansion of the mill and the building of a power station. Rio is the operator of Oyu Tolgoi and majority owner of Ivanhoe Mines Ltd. (IVN), which owns 66% of the project to the Mongolian government's 34%. When fully operational, Oyu Tolgoi is forecast to produce average 1.2 billion pounds of copper a year in the first 10 years, 650,000 troy ounces of gold and more than 3 million ounces of silver. Write to Robb M. Stewart at robb.stewart@wsj.com

Stock News for Companhia Vale (RIO)
DateTimeHeadline
05/05/201608:32:00Rio Tinto Cuts Debt by $1.5 Billion Through Debt Tender Offers
05/05/201604:38:00Rio Tinto's Incoming CEO Focused on Cash, Projects -- Update
05/04/201620:15:00Rio Tinto's Incoming CEO Focused on Cash, Projects
05/04/201600:30:00Most Asian Stock Markets Fall Amid Renewed Weakness in Oil
04/28/201609:00:00Anglo American to Sell Brazilian Businesses to China Molybdenum...
04/28/201608:37:00Rio Tinto to Buy Back $1.359 Billion Debt
04/27/201619:12:00Rio Tinto Prices Offers for US$1.5 Billion Debt Repurchase
04/21/201613:15:00Rio Tinto Plans to Buy Back $1.5 Billion in Debt -Update
04/21/201609:34:00Rio Tinto Plans to Buy Back $1.5 Billion in Debt due in 2017...
04/19/201618:12:00ADRs End Higher; Mining Firms Rise
04/19/201613:43:00Correction to Rio Tinto Trims Iron-Ore Production Update
04/18/201621:00:00Rio Tinto's Iron-Ore Shipments Fall Sharply
04/18/201619:27:00Rio Tinto's Iron-Ore Shipments ​Fall Sharply
04/18/201604:10:00Oil Prices Fall 5% in Late Asia Trading
04/18/201604:02:00Australia Stocks Pulled Lower by Energy Firms
04/18/201604:01:00Oil Prices Fall 5% in Late Asia Trading -- 3rd Update
04/17/201622:10:00Stocks Fall Sharply in Asia
04/14/201619:21:00Rio Tinto, Sinosteel Sign Iron-Ore Supply Deals
04/14/201603:37:00Rio Tinto Abandons Plan to Revise Supplier Payment Terms
04/13/201618:26:00ADRs End Higher; Steelmakers, Mining Companies Rise

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