Rio Tinto Group
Rio Tinto Group
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Global miner Rio Tinto is playing a “long game” in its expansion predicated on Chinese growth falling to 5%-6% pa beyond 2020 to be replaced by the emergence of India and South East Asia mid next decade.
This broad strategy was outlined by Rio M/D David Peever at a conference in Perth today, where he warned the major hurdles facing it and other miners around the world were rising costs and productivity, problems that would see more layoffs as cost cutting in the face of low commodity prices of bites harder.