Rio CEO calls Guinea payments scandal ‘very challenging’
25 November 2016 - 06:41
Sydney — The fallout from Rio Tinto’s discovery of payments in Guinea had been "very challenging", CEO Jean-Sébastien Jacques said on Thursday in his first public appearance since the scandal erupted. Speaking at Rio’s investment day seminar, Jacques committed the world’s second-largest miner to boosting free cash flow by $5bn over five years. He also flagged that capital spending in 2016 would be lower than previously suggested at less than $3.5bn compared with earlier guidance of about $4bn.
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