Rio Tinto's copper, aluminium output declines amid price rout

Melbourne

Rio Tinto Group, the world's second-biggest mining company, reported lower output of minerals, including aluminium and copper, amid a commodity price slump that's forcing suppliers to cut spending and rein in expansions.

Output of 10 of Rio's 13 key materials fell in the three months to Dec 31 from a year earlier, the London-based company said on Wednesday in a statement. Iron ore production, the biggest contributor to Rio's earnings, rose to 79.1 million tonnes, missing the 82.2 million-tonne median estimate of three analysts surveyed by Bloomberg.

The price of copper tumbled 6.2 per cent last week, the biggest drop since 2011, as the World Bank cut its forecast for the global economy. A Bloomberg Commodit…