Rio Tinto's iron output up 11 percent

Anglo-Australian mining giant Rio Tinto has announced that its third quarter iron ore production rose 11 percent year on year thanks to strong global demand for steel led by China. The company said that iron ore production amounted to 35.7 million metric tons in the three months ended September 30, 2006. However, Rio's copper production fell 15 percent year on year during the period in question, hit by a production glitch at one of its US plants and a strike at a Chilean mine. Rio's profit is expected to rise 50 percent to $7.6 billion this year.