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Rio Tinto Trims 2017 Capex to $4.5 Billion, but Sees Future Spending Growth
Industry Segment: Metals & Minerals | Word Count: 725 Words
SUGAR LAND--December 5, 2017--Researched by Industrial Info Resources (Sugar Land, Texas)--Volatile commodity markets and a possible slowdown in China have forced Rio Tinto plc (NYSE:RIO) (London, England) to lower its 2017 capital-spending forecast to less than $4.5 billion, compared with its earlier guidance of $5 billion, as it focuses on cutting costs at its iron ore, copper and other businesses. Nonetheless, the company expects to increase capital spending in the following years. Industrial Info is tracking $20.8 billion in active projects involving Rio Tinto, including about $7.2 billion under construction.
Within this article: Details on some of Rio Tinto's highest-valued projects, including major expansions in Utah and northern Canada, and the Koodaideri mine in Australia.
Other companies featured: BHP Billiton Limited (NYSE:BHP), Barrick Gold Corporation (NYSE:ABX) and Newmont Mining Corporation (NYSE:NEM).
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