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Surging Iron Ore Won’t ‘Fall Off a Cliff,’ Says Rio Tinto

  • Rio CFO says China in fundamental shift to less-polluting ore
  • Second-biggest miner sees robust growth to continue in China
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Rio Tinto CFO Says We Have Planned for Downside Scenarios

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Iron ore will defy forecasts for a dramatic price collapse as China’s economy remains strong and the top buyer boosts demand for higher-quality imports, according to Rio Tinto Group, the second-largest exporter.

“I wouldn’t necessarily say that it’s going to fall off a cliff,” Chief Financial Officer Chris Lynch said Monday in an interview with Bloomberg Television’s Daybreak Australia. “I guess the key issue is that we have to be robust in case the price goes up, down or sideways, and that’s what we set out our business to do.”