RIO Tinto will cut its iron ore production in the Pilbara by 10% as demand for the mineral takes a dive.
Rio chief executive, Tom Albanese, says while its Western Australian operations continue to perform well, demand has continued to decelerate.
“This reduction is a prudent move to align production with revised customer delivery requirements in the light of the fourth quarter drop in Chinese demand,” he said.
Albanese believes demand will “rebound over the course of 2009” and return to normal throughout the course of the year.
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