Rio capex cut to shore up pay-outs

Original article by Amanda Saunders
The Australian Financial Review – Page: 1&12 : 7-Aug-15

Rio Tinto has reported a 43 per cent decline in underlying earnings to $US2.9 billion for the first half of 2015, compared with $US5.1 billion in the previous corresponding period. Commenting on the results, CEO Sam Walsh said that Rio will reduce capital investment by at least $US2.5 billion over two years. He assured investors that the cuts will not affect the company’s growth prospects.

CORPORATES
RIO TINTO LIMITED – ASX RIO, GLENCORE PLC, UBS AG, DEUTSCHE BANK AG, X2 RESOURCES PARTNERS LP

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