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Rio Tinto Q4 iron ore output up 12 pct, meets full year guidance

Reuters - UK Focus

SYDNEY, Jan 20 (Reuters) - Rio Tinto (Xetra: 855018 - news) on Tuesday posted a sharp rise in quarterly iron ore output amid a drive to corner a greater share of the global market despite a big drop in the price of iron ore due to oversupply in China.

The world's no. 2 producer after Vale lifted iron ore production 12 percent in the fourth quarter from a year earlier, to 79.1 million tonnes, meeting full-year guidance of 295 million tonnes.

Iron ore accounts for about 90 percent of Rio Tinto's overall earnings. (Reporting by James Regan; Editing by Kevin Liffey)