Rio Tinto is continuing its drive for further cost reductions Rio Tinto's planned spending on exploration and evaluation projects will be reduced by $1B over the remainder of 2012 and 2013. Capital expenditure on approved and sustaining projects will taper off from current levels in 2013sustaining capital expenditure will reduce by more than $1B next year.
News For RIO From The Last 14 Days
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Rio Tinto raises FY14 thermal coal production outlook to 17.5M tonnes The company's previous thermal coal production guidance was 16.7M tons. This follows a change in the production profile to produce additional higher margin thermal coal from a processing plant by-product stream at Hail Creek. As a result of this change and lower than expected production during the ramp up at Kestrel, Australian hard coking coal production has decreased to 7.4M tonnes, previously 8.2M tonnes. Semi-soft coking coal production guidance remains unchanged at 3M tonnes.Rio Tinto’s share of uranium production across Rössing and ERA in 2014 is expected to be between 4.3M-5.1M pounds. This follows operational changes at Rössing in response to current market conditions. Progression to full processing capacity at ERA is anticipated in Q3. Reference Link