RIO TINTO SAYS THAT WILL PRESERVE ITS RANKING AS THE LOWEST COST PRODUCER OF IRON ORE

Rio Tinto's iron ore head Andrew Harding has declared that the mining major's proactive strategy on technology will allow it to preserve its ranking as the lowest cost producer of iron ore.

Mr Harding said the company has almost 400 initiatives under way to deliver additional savings and productivity improvements across Rio's Pilbara operations in Western Australia that will make it hard for competitors to catch up.

"Our first-mover advantage with new technology is providing us with a productivity edge that we do not see being bridged by others in the foreseeable future," Mr Harding said.