Rio wears cash drain to bet on copper

Original article by Peter Ker
The Australian Financial Review – Page: 19 : 5-Dec-19

Rio Tinto will extend the life of its Kennecott copper mine in the US until at least 2032 after unveiling plans to spend $US1.5bn on a new pit wall cutback. Rio Tinto is also widely tipped to spend some $US1.5bn on the expansion of its Oyu Tolgoi copper mine in Mongolia in 2020. The capital investment programs have raised doubts as to whether Rio Tinto’s copper and diamonds division will generate free cash flow in 2020. Copper and diamonds have accounted for the bulk of its expenditure on exploration in 2019.

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP GROUP LIMITED – ASX BHP

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