ADVFN - Advanced Financial Network.
HOME» NYSE » C » RIO Stock Price » RIO Stock News

Companhia Vale Share News

 Companhia Vale Do Rio Doce Stock Price
RIO Stock Price
 Companhia Vale Do Rio Doce Stock Chart
RIO Stock Chart
 Companhia Vale Do Rio Doce Stock News
RIO Stock News
 Companhia Vale Do Rio Doce Company Information
RIO Company Information
 Companhia Vale Do Rio Doce Stock Trades
RIO Stock Trades

Rio Tinto Posts Record 1st Half Iron Ore Output, Cautions On Sentiment

By Robb M. Stewart MELBOURNE--Rio Tinto PLC (RIO) said Tuesday it achieved record production of iron ore and coking coal in the first half of the year, but cautioned global economic conditions and sentiment had dropped markedly in the second quarter. Rio, the world's second-largest iron ore producer after Brazil's Vale SA (VALE), reaffirmed a target of 250 million metric tons of the steelmaking ingredient this year from its mines in Australia and Canada but trimmed its guidance for its share of production of hard coking and thermal coal, as well as for mined copper. "We are keeping a close eye on the pace of the U.S. recovery, the continuing eurozone crisis and the impact of efforts to stimulate the Chinese economy on the markets that we serve," Chief Executive Tom Albanese said in a statement. Mr. Albanese said the Anglo-Australian company's investment program remained resilient to the market volatility. "Our tier one projects are robust under any probable macroeconomic scenario," he said. Rio produced 48.6 million tons of iron ore in the June quarter, excluding output attributable to minority partners, roughly unchanged from a year earlier. Six-month production, however, was up 4% on a year earlier at almost 94.3 million tons. Production of hard coking coal, which also is used to produce steel, increased 13% on the year to just over 2 million tons for the quarter and was 9% higher for the half-year at 3.7 million tons, the company said. Second-quarter thermal coal output was flat on a year ago at 4.8 million tons but up 2% for the six-month period at 8.9 million tons. Among other commodities, Rio said it produced 133,500 tons of copper in the second quarter, unchanged on a year ago, while production of aluminum was 12% lower for the quarter at 841,000 tons. The company expects to produce 8.5 million tons of hard coking coal and 19.5 million tons of thermal coal in 2012, down from an April forecast for 9 million and 20 million tons, respectively. Its share of mined copper is now expected to reach 580,000 tons this year, down from 600,000 forecast previously. Fellow Anglo-Australian mining giant BHP Billiton Ltd. (BHP), the world's largest exporter of coking coal by sea and third-biggest producer of iron ore, is due to release its quarterly production figures on Wednesday. Write to Robb M. Stewart at robb.stewart@wsj.com

Stock News for Companhia Vale (RIO)
DateTimeHeadline
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
03/20/201413:54:20LONDON MARKETS: Oil Firms, GSK Push FTSE 100 To Six-week Low
03/17/201413:30:15LONDON MARKETS: FTSE Rebounds From Six-day Losing Run

Companhia Vale and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad