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Rio Tinto estimates 125 mln tonnes iron ore capacity left market in 2014
February 12, 2015 / 6:57 AM / 3 years ago

Rio Tinto estimates 125 mln tonnes iron ore capacity left market in 2014

MELBOURNE, Feb 12 (Reuters) - Rio Tinto estimates that 125 million tonnes of iron ore capacity came out of the market in 2014 and it expects at least a further 80 million tonnes to come out this year as a result of weak prices, Chief Executive Sam Walsh said.

“Our marketing people are estimating some 80 million tonnes of capacity will come off this year,” Walsh told reporters after the company reported a market-beating annual result. (Reporting by Sonali Paul; Editing by Richard Pullin)

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