RIO Tinto expects iron ore demand to increase by at least 800...

RIO Tinto expects iron ore demand to increase by at least 800 million tonnes a year over the next eight years, which is more than the combined existing production of Australia and Brazil, the world's two biggest iron ore exporters.

"In the case of iron ore, we expect that over the next eight years, global supply additions need to be at the rate of at least 100 million tonnes each year to satisfy growth," Mr Joyce said. "This represents a staggering increase in demand."

As well as the regularly highlighted potential of China and India to drive demand, Rio expects Indonesian, Vietnamese, African and South American industrialisation and urbanisation to contribute.

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http://www.theaustralian.com.au/business/mining-energy/ore-demand-out-of-this-world-says-rio/story-e6frg9df-1226127659042