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Reuters reported that Rio Tinto, under the leadership of its new CEO Sam Walsh, will initiate major cost-cutting measures as it mitigates a sharp drop in demand for industrial commodities.
Reuters reported that Rio Tinto, under the leadership of its new CEO Sam Walsh, will initiate major cost-cutting measures as it mitigates a sharp drop in demand for industrial commodities.
As quoted in the market news:
For projects started during the now-defunct mining boom, unchecked costs have become a No. 1 priority for resource companies facing a less robust customer in China, the world’s biggest importer of iron ore, copper and other industrial staples.