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4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Rio Tinto Limited    RIO   AU000000RIO1

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CESCO:Rio Tinto Copper Unit CEO:China Growth To Hold At Current Rate

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04/17/2012 | 04:26pm CEST

Slowing growth in China and Europe's debt crisis won't derail the long-term outlook for the copper industry, which should continue to benefit from robust demand for the metal and challenges in bringing new supply online, the chief executive of Rio Tinto PLC's (RIO, RIO.LN) copper unit said on Tuesday.

"While in the short term we will see continued volatility, the long-term copper demand picture has not changed," Andrew Harding said at the CESCO copper industry conference here. Harding said continued industrialization in China and other emerging markets would underpin demand for the industrial metal.

"I am confident that growth in China will stay at the levels we're currently seeing," Harding said. He added, however, that growth would likely remain at a slower pace than the double-digit expansion in gross domestic product seen during parts of the last decade.

China is the world's top copper consumer, accounting for about 40% of global use of the metal. Copper is widely used in electricity and construction, and has been a key ingredient in China's rapid industrialization.

Copper supply, Harding said, would continue to be limited as years of mining have depleted the better part of many copper deposits.

-By Matt Day, Dow Jones Newswires; 212-416-4986, [email protected]

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Financials ($)
Sales 2017 39 692 M
EBIT 2017 13 293 M
Net income 2017 8 677 M
Debt 2017 4 844 M
Yield 2017 5,69%
P/E ratio 2017 9,83
P/E ratio 2018 12,98
EV / Sales 2017 2,05x
EV / Sales 2018 2,20x
Capitalization 76 493 M
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Average target price 54,4 $
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Jean-Sébastien Jacques Chief Executive Officer
Jan Petrus du Plessis Chairman
Christopher J. Lynch Chief Financial Officer & Non-Executive Director
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Ann Frances Godbehere Independent Non-Executive Director
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