Event
On May 29, 2008 Rio Tinto outlined its growth trajectory for the next few years. The company expects a doubling of world demand for its metals and minerals by 2022.
Takeaways From Event
The company announced significant new resources, across different ore bodies, which will underpin the Group's superior trajectory for long term growth:
- significant new resources, across different ore bodies, which will underpin the Group's superior trajectory for long term growth
- La Granja project in Peru announced 2.8 billion tonnes of inferred copper resources at 0.51 per cent copper and 0.1 per cent zinc
- Resolution project in Arizona, USA, announced 1.3 billion tonnes of inferred resources containing 1.51 per cent copper and 0.04 per cent molybdenum
- Sulawesi Nickel project yesterday announced 162 million tonnes lateritic nickel inferred resource with potential for further mineralisation through further exploration
- Lastly, Kennecott Utah Copper last week announced an upgrade of resources to 637 million tonnes at 0.48 per cent copper at its Bingham Canyon mine
Rio Tinto assesses that the urbanization and population growth in countries like China and India will merit a doubling of world demand for its metals and minerals by 2022
Urbanization drives steel consumption growth faster than GDP during economic development
Since about 98% of iron ore is used to make steel ...
Is it time to load up on Rio Tinto ?
Click here to listen to their May 29, 2008 webcast where CEO Tom Albanese says that Rio Tinto's compound annual production growth is expected to be 8.6 per cent through to 2015
Investment Risks
Without limitations, some of the risks include reserves and resource risk, development risks, permitting risks, off-take agreements, commodity price risks, geo-political risks, exchange rates, weather related impacts etc.
If you like this post, please take a moment to suscribe to my feed or Stumble/Digg it using the appropriate links at the bottom of this post! You can also post a link to it on relevant forums/bullboards. Also, feel free to debate, discuss or comment on the any of the stocks you see on this page in the comments section.
|