Rio Tinto 3Q Iron Ore Output 53.4MT

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Oct. 15 (Bloomberg) –- Bloomberg’s Manus Cranny reports on Rio Tinto earnings. He speaks to Anna Edwards and Mark Barton on Bloomberg Television’s “Countdown.” (Source: Bloomberg)

Production numbers.

Much of their income comes from iron ore.

It's record production in order, record shipments.

They also bid on copper production.

That's the second against producer.

If you think this is a berating, produce more and spend less.

That is essentially what he has done.

He has raised copper for the year.

Iron ore is steady as she goes.

When you look at it, capital expenditure has been the biggest issue, and they are on target to be the level of capital expenditure this year.

They are going to be $750 million over supply.

He is not going to get a good enough rice.

I think when it comes to the liberation, one of their biggest issues is, do i plow another $5 billion into this project and boost production, or do i hold back, which would allow stability of prices?

They have put $6 billion into mongolian assets, and it is producing 100,000 tons a day.

You talk about mongolian assets.

What about the outlook for iron ore?

If you look at the quarter, it was 100 dirty dollars a ton.

If you look back last year, -- 130 dollars a time.

If you look back last year prices were lower.

I decided to look at extreme versions.

There is still room for upside.

The chinese could restock, and that could build the price higher.

$70 near-term, but that would be a golden opportunity.

Now for a preview of what is coming up later.

From berlin, david tweed has

This text has been automatically generated. It may not be 100% accurate.


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