Rio quietly optimistic over Trump’s infrastructure delivery promises
PERTH (miningweekly.com) – Mining giant Rio Tinto is quietly optimistic about the ability of US President Donald Trump to deliver on his infrastructure promises, driving demand for Rio’s products.
Speaking on CNBC, Rio CEO Jean-Sebastian Jacques said a team from Rio had recently met with “key influencers and key decision-makers” in the Trump administration, spending a week in New York, Boston and Washington DC.
“I think it’s early days and I think it's going to be important to judge them on their actions and not only on words . . . but it could be very positive,” he told CNBC.
Commenting on the future of the iron-ore price, Jacques noted that there was still a risk of price volatility in 2017, but pointed out that the outlook for the Chinese economy remained positive in 2017.
“When I look at our order books, I’ve got no concerns whatsoever,” Jacques said.
He pointed out that the linchpin for iron-ore price volatility, however, would be China’s domestic iron-ore production, which was above 400-million tonnes only three years ago, with the country, according to Rio’s own calculations, only producing some 270-million tonnes currently.
“It’s still winter in China; it’s going to be interesting to see what may happen as we get into summer months. Are they going to restart some of this capacity? Depending on that decision, it may have an impact on the iron-ore price,” Jacques said.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points
VISIT SHOWROOM
We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
