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

BHP Aims to Hike Production in 2012, 2013

The world's biggest miner, BHP Billiton Ltd. (BHP, BHP.AU) aims to increase production by about 10% a year for the next two years, potentially offsetting lower prices that it expects for most of its products over the longer term. Speaking on ABC's Inside Business program, BHP Billiton Chief Executive Marius Kloppers said: "without wanting to make a very precise prediction I would not be satisfied entirely if we didn't manage to grow volumes by about 10% or so over each of the next two years." While declining to make a short-term prediction for prices, Mr. Kloppers said BHP's long-term price assumptions for most of its products are for "mean reversion of prices toward longer-term pricing points that are lower than today's prices." Mr. Kloppers said BHP was targeting a 50% increase in coal production from Queensland state, and a 50% rise in copper production from its Escondida mine that it operates in a joint venture with Rio Tinto PLC (RIO, RIO.LN) in Brazil. BHP now has 20 projects underway, costing a combined $22.8 billion. That is more than the company spent in the last financial year but BHP has scaled back longer-term plans to invest more than $80 billion over five years to ensure it was able to capitalize on Asia's demand for materials such as coal for firing power stations and iron ore used in steel frames during construction of high-rise buildings. BHP last week deferred plans to spend about $30 billion to expand its massive Olympic Dam copper and uranium mine in South Australia state, due to rising costs and weakening Chinese demand. It also postponed plans to expand its iron ore port operation in Western Australia, and a project to develop a coal deposit to the east of the country. In the financial year just ended, BHP's production of iron ore, a key driver of earnings, hit another record high. At the same time, iron ore, coking coal and other key raw materials produced by BHP are currently trading at multi-year lows, although prices are still relatively strong compared to long-run historical averages. Robb M. Stewart in Melbourne contributed to this article. Write to David Rogers at david.rogers1@wsj.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Companhia Vale (RIO)
DateTimeHeadline
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
08/21/201412:17:19LONDON MARKETS: Miners Drop In London After Weak China PMI
08/21/201403:44:17LONDON MARKETS: Miners Slide In London After Weak China PMI
08/18/201417:36:49ADR Shares End Higher; Rio Tinto Shares Trade Actively
08/18/201405:50:39Rio Tinto Weighs Bougainville Copper Stake
08/17/201421:40:23Rio Tinto Reviews Options for Bougainville Stake
08/17/201420:33:15Rio Tinto Reviews Options for Bougainville Copper Stake
08/14/201404:23:25LONDON MARKETS: Banks Rise, Miners Stumble In London Trade
08/13/201412:33:07EUROPE MARKETS: Admiral Drops, E.On Rises In European Trading
08/13/201412:29:15LONDON MARKETS: Pound Hit, U.K. Stocks Up As Rate Hike Appears...
08/13/201411:16:33LONDON MARKETS: Pound Slides, U.K. Stocks Up After Weak BOE Wage...
08/11/201412:51:09EUROPE MARKETS: European Stocks Rise As Ukraine Tensions Ease
08/11/201412:49:43LONDON MARKETS: U.K. Stocks Rise; Rio Tinto Among FTSE Leaders

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