Rio Tinto

Being the lowest cost producer in the industry has its perks. While smaller producers, such as Fortescue Metals, contemplate curtailing production in response to falling iron ore prices, Rio Tinto is doing just the opposite. Yesterday, the company announced record iron ore production of 67m tonnes for quarter (Rio’s share 53m tonnes), a 5% increase from this time last year. It will likely produce 230m tonnes this year. Not content with that, Rio confirmed plans to boost output to 283m tonnes per annum next year and 353m tonnes per annum by 2015. For most of the industry, lower output...

Being the lowest cost producer in the industry has its perks. While smaller producers, such as Fortescue Metals, contemplate curtailing production in response to falling iron ore prices, Rio Tinto is doing just the opposite. Yesterday, the company announced record iron ore production of 67m tonnes for quarter (Rio’s share 53m tonnes), a 5% increase from this time last year. It will likely produce 230m tonnes this year. Not content with that, Rio confirmed plans to boost output to 283m tonnes per annum next year and 353m tonnes per annum by 2015.

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