Rio Tinto’s Q2 iron ore shipments miss after May train derailment
The world's largest producer of iron ore shipped 80.3 million tons of the steel-making commodity in the quarter.
George Jones, Chairman, imparted some encouraging views on China and iron ore in his presentation at Gindalbie’s 2008 Annual General Meeting. His view – which, he says ”is supported by recent discussions I have had with a number of senior Chinese business leaders and other experienced China analysts – is that there is a solid ‘bottom line’ of demand for key raw materials that will continue to underpin and sustain quality Australian resource projects. While there is evidence of a slowdown in Chinese economic growth from its peak of 11.9% last year, it is unlikely it will experience a so-called ‘hard landing’ where GDP growth slows to 5% per annum.” (more…)
