PERTH: Global miner Rio Tinto said on Thursday its long-term growth prospects remained solid, but acknowledged fragile world markets may create near-term threats.
"Persistent economic and financial imbalances continue to pose risks," chairman Jan du Plessis told shareholders at the Anglo-Australian company's annual meeting in Perth.
However, Rio's "strong balance sheet" put it in a good position to weather any short-term volatility, including turmoil in the Middle East and problems in the Eurozone, he added.
Longer-term, Rio Tinto's expansion of its mining operations would see it well placed to supply the growing demand for commodities to countries like China.
Chief executive Tom Albanese said the company was focused on organic growth of its mines rather than pursuing big corporate acquisitions, dismissing market talk of a bid for American aluminium giant Alcoa.
"I've seen some, I call it 'trader chatter' over the past day or two," Albanese said.
"It sort of disappeared as quickly as it emerged and I thought that spoke for itself."
Rumours began circulating a few days ago that two banks had secured a $25 billion syndicated loan for Rio Tinto to buy Alcoa, sending the aluminium producer's options higher on Wall Street.
While dismissing the Alcoa talk, Albanese admitted that if smaller opportunities come along, such as Rio's current takeover of Riversdale Mining, "we would look at it."
Rio recently took control of Mozambique-focused coal miner Riversdale after a takeover bid valued at nearly $4 billion.
He declined to comment on a potential takeover bid by China's CGNPC Uranium Resources Ltd for uranium explorer Extract Resources Ltd, which is 14.2 Percent held by Rio Tinto.
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