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
10/23/201412:38:04LONDON MARKETS: FTSE Rides European Optimism, But Tesco Slumps
10/23/201408:10:11Rio Tinto Extends CEO, CFO Tenure
10/23/201403:55:21LONDON MARKETS: Tesco Slumps, Sends FTSE Lower For First Time...
10/22/201410:04:35LONDON MARKETS: Glaxo Gives FTSE 100 A Shot In The Arm
10/22/201409:55:11LONDON MARKETS: GSK Lifts FTSE 100 On Earnings, Ebola Vaccine
10/22/201406:50:06LONDON MARKETS: British American Tobacco Knocks FTSE 100 Lower
10/22/201403:58:35LONDON MARKETS: FTSE 100 Hugs The Flat Line Ahead Of BOE Minutes
10/16/201409:39:21Rio Tinto Alcan to Leave Cameroon Aluminum Smelter Joint Venture
10/15/201401:32:29ASIA MARKETS: Asian Shares Mixed; Hong Kong Up On Low China Inflation
10/14/201422:30:24Asian Shares Rise on Bargain Hunting
10/14/201415:39:42LONDON MARKETS: Burberry Group Leads Losses Among U.K. Stocks
10/14/201409:37:16Anglo Pacific Expects Better Royalties From Australia Mine
10/13/201412:14:05LONDON MARKETS: U.K. Stocks Take A Breather From Selling; Rio...
10/13/201404:09:35LONDON MARKETS: U.K. Stocks Resume Their Selloff, But Rio Tinto...
10/10/201416:00:27Glencore Held Preliminary Talks With Cliffs Natural Resources...
10/10/201412:36:32LONDON MARKETS: FTSE 100 Slides To One-year Low After Tumultuous...
10/10/201407:35:10ASIA MARKETS: Asian Shares Drop On Oil Price Decline, Growth...
10/10/201403:58:48LONDON MARKETS: FTSE 100 Heads For One-year Low After Tumultuous...
10/09/201422:40:16Wall Street Drags Down Asian Shares
10/08/201412:13:12LONDON MARKETS: Travel Stocks Slide In London Amid Ebola Scare

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