Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

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

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
04:55aDJRio Tinto Bucks Trend to Bet on Bauxite
04:27aDJRio Tinto Approves $1.9 Billion Australian Bauxite Project -- 2nd Update
01:57a Rio Tinto to go ahead with $1.9 billion bauxite expansion
11/26DJRio Tinto Approves US$1.9 Bn Australian Bauxite Project -- Update
11/26DJRio Tinto Approves US$1.9 Billion Australian Bauxite Project
11/26 RIO TINTO : approves US$1.9 billion Amrun (South of Embley) bauxite project
11/26 Rio Tinto wins final approval to expand Australian coal mine
11/26DJChina Shares Slide as Regulators Investigate Brokers
11/26 Rio Tinto set to decide on expansion of Mongolia copper mine
11/25DJRIO TINTO : Hopeful on Long-Term Commodity Demand
News chart
Full-screen chart
Income Statement Evolution
More Financials