The major miner also doesn’t think other companies will be able to do so.
Kaiser also discusses the companies he is watching in the diamond space.
Supply concerns bumped the red metal’s price up 2 percent on Wednesday.
Rio Tinto plc (ASX:RIO,LSE:RIO,NYSE:RIO) released its full results for 2016, commenting that it generated strong operating cash flow of $8.5 billion. Underlying earnings came in at $5.1 billion, and the company plans to return $3.6 billion to shareholders.
By Pia Rivera
Rio Tinto (NYSE:RIO) Group chief Jean-Sebastien Jacques said in an interview that the company will prioritize its diamond business to improve their portfolio.
As quoted in the article:
The firm’s diamond business, underpinned by two underground mines, was considered by some analysts as a candidate to be divested or spun out, particularly