Rio Tinto announces iron ore production increases by 9%
Rio Tinto has announced that production of iron ore rose by 9% in the second fiscal quarter of 2004 after production began at new mine Eastern Range and output from the company's Grasberg mine improved as mining returned to higher grade areas of the open pit towards the end of April. Iron ore production for the three months ended on June 30 rose to 28 million tons from 25.6 million tons in the same quarter of last year. Hurricane and tropical storms had slowed Rio Tinto's production of iron ore, thermal coal, and diamonds in the first quarter. Rio Tinto has also announced that demand for iron ore remained strong across the product range and in all markets.