China’s steel demand shifts to higher-grade ore, Rio Tinto exec says
"The demand for high grade ore continues to be strong," chief commercial officer Bold Baatar said.
Global miner Anglo American said on Thursday its overall production rose by 2% in the third quarter, driven by diamonds and iron ore, while copper output fell by 6%.
In the three months to September, rough diamond production rose by 28% from a year earlier as consumer demand recovered in major markets including the United States and China.
Iron ore production rose by 15% on increased output from Brazil’s Minas-Rio and South Africa’s Kumba mine.
Planned maintenance work at its Collahuasi mine affected copper production in Chile in the third quarter. Year-to-date copper production is up 1%, Anglo said in a release.
(By Clara Denina; Editing by Jason Neely)
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