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Rio Tinto production higher than expectations

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

[caption align="alignright" 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 Nasdaq, Inc.


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

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