Interesting article on the Dow Jones newswire today:
DJ Rio Tinto's Incoming CEO Focused on Cash, Projects
05/05/2016 09:45AM AEST
BRISBANE, Australia--Rio Tinto PLC's (RIO.LN) incoming chief executive said the miner, one of the world's largest, will be focused on developing its best new projects and generating as much cash as it can amid a continued downturn in global commodity markets.
"There is no doubt these are challenging times for the sector, and for your company," said deputy chief executive Jean-Sebastien Jacques, who will succeed CEO Sam Walsh in July. "The macro-economic environment is tough, and is likely to remain so for the foreseeable future, from whichever way you look at it."
Rio Tinto have been too exposed to iron ore in the past and are looking to expand into other areas.
The delay in the Citadel IP Survey results may hold back the SP for a bit longer, but if things were going bad, they would be wrapping up things sooner rather than later.
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Interesting article on the Dow Jones newswire today: DJ Rio...
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