RIO TINTO EXPECTS STRONG DEMAND OUTSIDE OF CHINA

Rio Tinto said on Thursday it expects to see strong growth in iron ore demand in countries outside of China as the global seaborne market expands.

China has long been the top market for sea-traded iron ore, importing close to 1 billion tonnes a year, out of a global market of 1.4 billion tonnes. Rio Tinto accounts for about a third of China's imports.

"We project that the world will demand around 3 billion tonnes of iron ore by 2030, a 2 percent average annual increase from today's levels," Rio Tinto's iron ore head Andrew Harding said.