Rio Tinto reports strong output growth

A reclaimer places coal in stockpiles after processing at Rio Tinto's mine Rio Tinto is looking at record overall production in 2011

Related Stories

Mining giant Rio Tinto has reported record iron ore sales and strong output growth for the third quarter.

Iron ore output was 49.8m tonnes, up from 47.6m tonnes a year ago.

The world's second-largest miner of iron ore said it was operating "at full capacity" and selling all of the ore, used in steelmaking, it produced.

Whilst mindful of market volatility, "the fundamentals are holding up well, particularly for bulk-traded commodities," said boss Tom Albanese.

The miner's output of hard coking coal, another steel-making material, rose 14% in the third quarter from 12 months ago.

Rio Tinto also maintained its 2011 forecast for record overall production of 240 million tonnes.

Its Australian shares closed 2.8% higher at A$69.34.

China is the key market for the firm's iron ore business, but there have been concerns raised recently that the Chinese economy could be slowing.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features & Analysis

Elsewhere on the BBC

  • StuntmanStuntman to the stars

    Driving dangerously and falling off buildings are all part of the day job for Bobby Holland Hanton

Programmes

  • The smartphones of shoppers being tracked in a storeClick Watch

    How free wi-fi can enable businesses to track our movements and learn more about us

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.