Rio Tinto PLC (NYSE: RTP), the mining conglomerate, said Thursday that demand for iron ore, copper and gold rose strongly in the fourth quarter, according to Associated Press.
Rio Tinto said global iron ore production rose 49 percent compared to a year earlier, driven by strong demand from China. It said mined copper production rose 36 percent, refined copper output was up 15 percent and mined gold was up 141 percent at more than 1.1 million ounces.
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Rio Tinto shares were up 1.8 percent at 3,600.5 pence on the London Stock Exchange. Its New York Stock Exchange shares rose $4.05, or 1.7 percent, to $237.99 in Thursday afternoon.
Rio Tinto said it had completed divestments worth $1.85 billion in the fourth quarter, bringing its total to $10.3 billion since it began its divestment program in 2008.
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