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Rio looks to rebuild confidence | smh.com.au

Rio looks to rebuild confidence
Sydney Morning Herald

  • Jamie Freed
  • October 15, 2008

    RIO Tinto’s chief executive, Tom Albanese, will today attempt to shore up market confidence in the miner’s decision to reject a hostile bid from BHP Billiton amid a worsening outlook for key commodities.

    After the release of Rio’s quarterly report this afternoon, he will also be required to address concerns his company will not meet its target of $US7 billion ($10.4 billion) of additional asset sales by the end of the year because of poor market conditions…………………………Rio’s uranium subsidiary, Energy Resources of Australia, yesterday lowered its annual production guidance from a previous range of 5400 to 5900 tonnes to a level “expected to approach” 5400 tonnes.

    • Rio looks to rebuild confidence | smh.com.au

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    October 15, 2008 - Posted by | business and costs

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