One of the world's leading mining companies, Anglo-Australian group Rio Tinto Ltd, has announced record iron ore production of 37.117 million mt for the second quarter of 2007, with output rising 11 percent from the corresponding quarter of last year and up 15 percent compared to the first quarter of this year. Rio Tinto's iron ore production for the same period of last year stood at 33.135 million mt.
However, the group's thermal coal and semi-soft Australian coal production decreased by 27 percent year on year in the second quarter of 2007 due to the heavy rainfall in June.
In light of the strong demand levels, Rio Tinto intends to undertake studies to expand its iron ore production up to 320 million mt annually.
Rio Tinto Ltd. has lately offered to buy Canadian aluminium company Alcan Inc. for $38.1 billion in cash, a move which would create the world's biggest aluminium company and fourth biggest producer of alumina.