Thursday, October 14,
Rio Tinto Group, the world’s third- largest mining company, said third-quarter Iron ore production rose to a record.
Output rose to 47.6 million metric tons in three months ended Sept. 30, from 47.0 million tons a year earlier, the London-based company said today in a statement.
Rio, the world’s second-biggest exporter of Iron ore, approved $1.3 billion of spending on expansions at its Australian iron ore assets in the quarter. The company also set production records for alumina and coking coal.
“We continue to run our operations at close to or above capacity rates, taking advantage of strong prices for our products,” Chief Executive Officer Tom Albanese said in the statement.
Source: Bloomberg
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