Rio Tinto Group, the world’s third- largest mining company, may double coal production from Queensland by 2015, the state government said.

Rio aims to increase output to 40 million tons, from 21 million tons, Queensland Premier Anna Bligh and Mines and Energy Minister Geoff Wilson said today in an e-mailed statement.

Prices for coking coal have tripled to a record this year because of disrupted supplies and rising demand. Rio’s output of hard coking coal, used in steelmaking, fell 27 percent in the first quarter after weather disrupted mining in Queensland.

The state is spending A$400 million ($373 million) to expand the coal train network to lift capacity by 38 million tons from 2010, Bligh said.

Rio rose by A$2.26, or 1.7 percent, to A$138.26 at the 4:10 p.m. Sydney time close on the Australian Stock Exchange.

The company’s expansion may involve a multi-billion investment, Rio Tinto Coal Australia’s managing director Hubie van Dalsen said today in a separate statement.

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