Thursday, April 16, 2009

Rio Tinto Q1 Aluminium Output Down 6%

Rio Tinto's first-quarter aluminium output fell 6% as the world's biggest producer attempted to better balance supply with sinking global demand from industrial sectors, the company said on Wednesday.
Rio also produced 2% less alumina, 15% less iron ore but 33% more refined copper in the first quarter versus the same period a year ago, it said.
Rio Tinto, the world's top aluminium maker since 2007 after buying Canada's Alcan, has proposed selling minority asset stakes and more equity to state-owned Chinese aluminium group Chinalco - already its biggest shareholder - to raise $19.5bn to help weather the bust in commodities markets.

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