Rio Says World Needs 100 mln T/yr New Iron Ore Output-Shanghai Metals Market

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Rio Says World Needs 100 mln T/yr New Iron Ore Output

Industry News 10:32:53AM Feb 29, 2012 Source:SMM

Feb 29 (Reuters) - The world will need 100 million tonnes of new iron ore capacity per year for the next eight years and global miner Rio Tinto sees itself supplying a quarter of that capacity, Sam Walsh, the head of Rio's iron ore unit, said on Tuesday.

Rio, which is ramping up its iron ore production in Western Australia, said other miners would struggle to meet China's vociferous demand as they would likely be hit by project delays.

Walsh was speaking at an industry conference in Beijing.

 

 

Key Words:  Rio Tinto   China   capacity   iron ore 

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Rio Says World Needs 100 mln T/yr New Iron Ore Output

Industry News 10:32:53AM Feb 29, 2012 Source:SMM

Feb 29 (Reuters) - The world will need 100 million tonnes of new iron ore capacity per year for the next eight years and global miner Rio Tinto sees itself supplying a quarter of that capacity, Sam Walsh, the head of Rio's iron ore unit, said on Tuesday.

Rio, which is ramping up its iron ore production in Western Australia, said other miners would struggle to meet China's vociferous demand as they would likely be hit by project delays.

Walsh was speaking at an industry conference in Beijing.

 

 

Key Words:  Rio Tinto   China   capacity   iron ore