[miningmx.com] – RIO Tinto posted record third quarter iron ore and thermal coal production and lifted its full-year copper forecast on the back of surging demand from China, said Bloomberg News citing the firm’s production update.
Iron ore production was 53.4 million metric tons (mt) in the three months to end-September, compared with 52.6mt a year earlier. That compares with the 53.3mt median estimate of five analysts surveyed by Bloomberg.
“In iron ore, we achieved record production and shipments in Western Australia,’ Rio tinto CEO Sam Walsh said in the statement.
“We are also making further important gains in productivity across our operations and continue to drive costs out of the business,’ he said.
Click here to read the full article
