Rio Tinto to slash costs, steps up iron ore …

MELBOURNE/SYDNEY (Reuters) – Rio Tinto aims to axe $7 billion (4 billion pounds) in costs over the next two years as it faces weaker commodity prices, and despite cutting costs the global miner had managed to beef up production at its lucrative Australian iron ore operations. Rio Tinto is the only global iron ore producer that has not slowed iron ore expansion plans, forging ahead with $21 …
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