Rio Tinto 3Q Iron Ore Output 47.6 Million Tons, Up 1% On Year
October 14 2010 - 12:54AM
Dow Jones News
Rio Tinto Ltd. (RIO) said Thursday iron ore output increased 1%
on the year in the third quarter of 2010 to 47.6 million metric
tons from 47.0 million tons in 2009.
But U.S. coal production by the world's number-three listed
miner fell 49% to 11.8 million tons in the three months to the end
of September from 23.3 million tons in the same period last
year.
The hard coking coal used in steel mills rose 17% to 2.4 million
tons from 2.1 million tons but other Australian coal sank 14% to
5.2 million tons from 6.1 million tons.
Mined copper production also fell in spite of booming prices for
the commodity, with production down 19% to 159,700 tons from
197,200 tons.
Declining ore grades at the Escondida mine, the world's largest,
in which Rio Tinto has a 30% stake, meant production at the site in
Chile fell 6% on the year.
The company said in a statement it expects its full-year share
of iron ore production to total 179 million tons, while mined
copper would hit 660,000 tons over the year. It added that Alumina
production would come to 9.4 million tons while aluminum would
reach 3.8 million tons. Australian hard coking coal production is
expected to be 9.5 million tons, semi-soft coking coal 3.3 million
tons and thermal coal 19.1 million tons.
-By David Fickling, Dow Jones Newswires; +61 2 8272 4689;
david.fickling@dowjones.com