SYDNEY, Nov 24 (Reuters) - Rio Tinto (RIO) RIO.L on Thursday outlined plans to boost free cash flow by $5 billion over the next five years by sweating its assets harder while expanding in iron ore, copper and bauxite.
The company, under fire over a bribery scandal in Guinea, also flagged that capital spending this year would be lower than it had suggested earlier, coming in at less than $3.5 billion compared to its guidance of around $4 billion.
"Lifting the productivity on our $50 billion asset base creates a low risk and highly attractive return. It will deliver an additional $5 billion of free cash flow over the next five years," Chief Executive Jean-Sébastien Jacques said in a statement before briefing investors in Sydney.
The briefing marks the first public appearance by Jacques since he fired two top executives following an internal investigation into $10.5 million in payments in 2011 to an advisor who helped it secure mining rights for the Simandou iron ore project in Guinea.
SYDNEY, Nov 24 (Reuters) - Rio Tinto (RIO) RIO.L on Thursday...
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Last
$115.54 |
Change
-0.790(0.68%) |
Mkt cap ! $42.89B | |||
| Open | High | Low | Value | Volume |
| $115.67 | $116.12 | $115.10 | $131.0M | 1.132M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 1108 | $115.50 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $115.84 | 96 | 2 |
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| Last trade - 16.17pm 18/09/2025 (20 minute delay) ? |
| RIO (ASX) Chart |