Capacity cuts seen as opportunities for Rio

China's moves on steel expected to swing focus onto high-quality raw materials

Rio Tinto Chief Executive Jean-Sebastien Jacques said he was not concerned that China's continuing fight against overcapacity in its steel sector would hurt the business of the mining behemoth.

"Instead, the move represents a good opportunity for us as steel plants resort to utilizing high-quality assets and higher-quality raw materials," said Jacques, CEO of the world's second-biggest miner.