Rio Tinto Eyes China, Maintains $16 Billion in Capital Expenditures for 2012
JOHANNESBURG--Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--Despite the fact that profit was down 22% for the first half of 2012, Rio Tinto (NYSE:RIO) (London, England), the third-largest global mining company, will maintain its capital expenditure target for the full 2012 year at $16 billion. Profits were negatively affected by reduced prices for iron ore, copper and aluminum, and rising costs for operations.
