Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

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

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

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

04/17/2012 | 10:26am US/Eastern

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, matt.day@dowjones.com

React to this article
Latest news on RIO TINTO LIMITED
08/02DJAsia Stocks Decline as China Manufacturing Data Weakens
07/28DJAustralia Shares End Slightly Down; Energy Stocks Rise
07/23DJFortescue Cuts Deeper as Iron-Ore Downturn Bites
07/22DJTech, Resources Stocks Weigh on European Markets -- Update
07/22 BHP's 'four pillars' no buffer against weak commodity prices
07/21 BHP beats fiscal 2015 iron ore guidance, takes copper hit
07/21DJAustralia Shares Extend Gains for Sixth Straight Day
07/20DJAustralia Shares Rise for a Fifth Straight Session
07/20 Insight - Global miners face succession crisis as old guard nears retirement
07/20 Global miners face succession crisis as old guard nears retirement
Advertisement
Chart
Duration : Period :
Rio Tinto Limited Technical Analysis Chart | RIO | AU000000RIO1 | 4-Traders
Income Statement Evolution
More Financials