Rio Tinto (RIO) sticks to its aggressive iron ore expansion plans, confirming its global output...

|About: Rio Tinto plc (RIO)|By:, SA News Editor

Rio Tinto (RIO) sticks to its aggressive iron ore expansion plans, confirming its global output capacity could almost double to 450M metric tons by 2016. Despite China's slowing growth, Rio expects strong long-term demand for iron ore - though reports earlier this week said Chinese buyers are deferring or defaulting on coal and iron ore deliveries following a drop in prices.