[miningmx.com] – RIO Tinto expected its 2016 capital spending budget to fall by $500m to $5bn, but it remained well placed to invest in its businesses, said Reuters citing a statement by the Anglo-Australian miner.
“Our prudent capital allocation and disciplined approach to the balance sheet have reinforced our resilience during this period of ongoing volatility,” CEO Sam Walsh said in a statement.
The company previously has said it anticipated 2016 capital expenditure to total about $5.5bn, said Reuters.
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