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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
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09/17/201417:09:44LONDON MARKETS: FTSE Inches Higher With Eyes On Scotland, Labor...
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09/15/201409:21:18Correction to China Mining Story on Sept. 11
09/12/201415:21:16LONDON MARKETS: FTSE 100 Edges Up As Key Poll Points To 'no...
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09/03/201401:14:51LONDON MARKETS: Weir, Tesco Climb As FTSE 100 Edges Up
09/02/201410:26:36LONDON MARKETS: BHP, Rio Tinto Shares Higher As FTSE 100 Gains
08/29/201403:48:27LONDON MARKETS: Tesco Slides After Warning, Curbs FTSE 100 Gain
08/28/201414:15:12LONDON MARKETS: FTSE 100 Snaps Two-day Winning Streak As Miners...
08/28/201414:15:05EUROPE MARKETS: Deutsche Bank Falls After Fine; Essilor Rallies:...
08/28/201408:12:47EUROPE MARKETS: Bouygues Falls After Warning; Essilor Rallies:...
08/22/201413:09:32EUROPE MARKETS: Hugo Boss Climbs; Oil Stocks Drop: Europe Movers
08/22/201412:27:52LONDON MARKETS: FTSE 100 Ends Choppy Day Lower As Miners Weigh
08/21/201420:22:17Iluka Profit Falls, But Signals Improved Rutile Outlook
08/21/201412:18:43EUROPE MARKETS: Raiffeisen Rallies, Miners Slip: Europe Movers

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