Rio Tinto Q3 output up 5.6 per cent

Rio's attributable September-quarter iron ore output was up 5.6 percent to 52.6 million tonnes.

Written by Agencies | Sydney | Published: October 16, 2012 10:23 am

Rio Tinto,the world’s no. 2 iron ore producer,maintained its 2012 production guidance at 250 million tonnes,saying its operations were performing strongly in a volatile market.

Markets remain volatile,but our business is resilient and our operations are performing strongly,Tom Albanese,chief executive of Rio,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 tonnes against the same quarter a year ago,according to the company.

World iron ore prices dropped below $87 a tonne last month as demand for imported ore in China waned,raising concerns among producers of a looming supply glut. Prices have since recovered to around $113 a tonne

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