India to outpace China in 15 years: Rio Tinto

China’s demand for iron ore, copper, coal and aluminum will increase dramatically during the next 15 years before India takes the lead in its need for those commodities, global miner Rio Tinto Ltd. predicted in its annual report

Rio Tinto chief executive Tom Albanese said the strong demand for iron ore clearly provided the most obvious option for production growth in Australia.

Albanese was optimistic about long-term growth prospects and said China’s demand for iron ore, copper, coal and aluminum was expected to grow exponentially for the next 15 years.

The short-term outlook for mining and metals is also improving but will likely remain volatile, the report said.