rio tinto optimistic over iron ore talks, page-2

another 800,000 shares bought in buyback On LSE last night.

RIO bought more shares than usual, in the weaker market and will probably buy again tonight.



Rio Tinto tips China will drive revenue
28/04/2006 10:49:42 AM AAP

Rio Tinto says it expects more of its revenue be generated by China's ongoing demand for metals.

Chairman Paul Skinner told an industry meeting in Perth that 15 per cent of company's revenue last year was driven by China.

"And it is growing fast," he said.

China accounts for between 20 and 30 per cent of current world demand for metals and minerals.

"We see that the challenge of the future will be to meet those needs," Mr Skinner.

Mr Skinner also said the resources industry was a long was from exhausting world's supply of minerals.

"I would suggest there are very solid grounds for optimism," he said.