Rio Tinto's iron ore production surged 49 per cent to 47.2m tonnes in the fourth quarter as the Anglo- Australian mining group continued to reap the benefits from strong demand from Chinese steel mills.
Rio's total iron ore sales, which include stakes in its operations held by third parties, rose to a record 61m tonnes in the fourth quarter, with calendar 2009 sales reaching a higher-than- expected 217m tonnes.
Analysts have this year upgraded earnings figures for Rio and BHP Billiton, the world's second- and third-largest exporters of iron ore respectively, on the back of higher prices for the ore.
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