Rio Tinto's Iron Ore Production Up

The multinational mining giant Rio Tinto has seen record iron ore production in the last quarter of 2010. There was a 6% increase in the quarterly production in the final quarter of the year despite the troubles with Iron Ore Company of Canada.

The low mine equipment availability and the harsh winter in Canada had decreased the ability of the subsidiary to contribute to the iron ore production by 9.3% still the mining company set a record production for the year. Rio Tinto produced 185 million attributable tonnes in 2010 out of an overall 239 million tonnes.

Of the earnings of Rio Tinto, 58 % came on account of iron ore. Production at the Iron Ore Company of Canada also went up by 6.2 % in the whole year. As did the feed stocks for alumina, bauxite, borates, hard coking coal, semi soft coal and titanium dioxide.

Tom Albanese the Chief Executive Officer for Rio Tinto said that running operations at full capacity was a priority for Rio Tinto in 2010 in an environment of strong prices for most commodities. For the year 2010 the project approvals from Rio Tinto totalled to American $10.8 billion worth. Despite ups and downs at individual mines and subsidiaries overall Rio Tinto had a good financial year.

Joel Scanlon

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Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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