Rio Tinto calms investors over weak iron ore prices

Melbourne

RIO Tinto Group insists that tumbling iron ore prices won't halt the lowest-cost producer's plans to give money back to shareholders.

"We shouldn't panic when there's a blip in iron ore prices," Rio Chief executive Officer Sam Walsh told reporters on Wednesday in Sydney. He dismissed suggestions that the company wouldn't boost returns to investors when reporting profit in February, saying "we are committed to making a material increase".