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Rio Tinto production higher than expectations

By Emerging Money,  January 15, 2013, 09:00:27 AM EDT

The world's second largest miner - Rio Tinto ( RIO , quote ) fourth-quarter iron ore output beats estimates by nearly a million tons.

[caption id="attachment_70120" align="alignright" width="300" caption="A laden truck deposits its load of iron ore into a pocket."] Image courtesy Anthony B. Bannister, Copyright © 2010 Rio Tinto [/caption]

RIO reported iron ore production for the fourth quarter to be 52 million up from the same quarter last year of 51.2 million.  Analysts' were looking for a decrease to 50.6 million tons.

RIO is continuing to go after their biggest ore projects in Pilbara and maintaining cost discipline throughout the company in non-core assets.

Ore prices are up 78% from September with thermal coal climbing higher by 40%$ and coking coal lower by 27%.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, International, Stocks

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