[miningmx.com] – RIO Tinto believed the investment market was beginning to recognise the importance of mining companies investing for the long-term, said Bloomberg News citing the Anglo-Australian group’s CEO, Sam Walsh.
“A year ago the market was talking about returns, returns, returns and stop investing,’ Rio Tinto CEO, Sam Walsh, was quoted as having said. “Now people are taking a long-term view and recognizing the fact there has to be a balance,’ he said.
Rio said in December it would reduce project spending to $11bn this year and to about $8bn in 2015, less than half its outlay in 2012. Capital expenditure will be in a range of $8bn to $10bn going forward, Walsh said.
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