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Rio Tinto maintains iron ore guidance despite China risks

Mon, 10/15/2012 - 9:25pm
Reuters

SYDNEY (Reuters) - Rio Tinto, the world's no. 2 iron ore producer, maintained its 2012 production guidance at 250 million metric tons, saying its operations were performing strongly despite a volatile market caused by China's uncertain economic outlook.

"Markets remain volatile, but our business is resilient and our operations are performing strongly," Chief Executive Tom Albanese said in the company's quarterly activities report.

Rio's attributable September-quarter iron ore output was up 5.6 percent to 52.6 million metric tons on the same quarter a year ago, according to the company.

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