Rio Tinto: China’s iron ore demand remains strong
Rio Tinto, Australian mining giant said on Tuesday that though the spot iron ore prices dropped recently due to worry on China’s economic growth, there is no obvious signal showing the downtrend of iron ore demand.
Mr. Sam Walsh, the chief executive of the Iron Ore group said that the company would continue to deliver iron ore to the market and China’s iron ore demand would remain strong.
He added that the demand for iron ore from the Asian countries such as Japan, South Korea and Taiwan would remain firm.
Earlier, Rio Tinto indicated that it has been speeding up the US$14.8 billion expansion plan in Pilbara region in Western Australia and planned to realized the target of 333 million tons of annual production capacity by the first half of 2015.
News Date 29 Jun 2011 15:59:27 reported by Echo Huo