MME examines the true oil potential of two of the Middle East's most volatile oil and gas producers.
Friday, November 26, 2010
Rio Tinto Sees Effect of Lower Grade Copper on Production to Continue Into 2011
"ADRs of Rio Tinto (RIO) are lower in the pre-market as the company said it expects 2010 mined copper production to come in at 661,000 tonnes, according to a MarketWatch report.
The company also reportedly said it sees the effect of lower grade copper on production to continue into 2011.
Commodities are heading lower overall on Friday, with gold and crude oil both sliding as concerns over European sovereign debt and ongoing tension in the Korean peninsula sent traders to the relative safety of U.S. dollars, driving down prices for basic goods. "
The company also reportedly said it sees the effect of lower grade copper on production to continue into 2011.
Commodities are heading lower overall on Friday, with gold and crude oil both sliding as concerns over European sovereign debt and ongoing tension in the Korean peninsula sent traders to the relative safety of U.S. dollars, driving down prices for basic goods. "
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