The new CEO of mining giant Rio Tinto Group, Sam Walsh, said the company will continue to expand its iron ore capacity in Western Australia to meet growing demand from China, its most important market.

In his fourth visit to China this year, Walsh said that China's urbanization and industrialization drive will continue to support iron ore demand.

Also, India, South Africa and Southeast Asia will go through similar urbanization processes - not necessarily at the same pace as China - which will bring strong demand, Walsh said.