Walsh Sees a Tough 2016 For Rio Tinto, Worse Than 2015
12:05 - Rio Tinto Group, the world’s second-biggest mining company, scrapped its progressive dividend policy and set out new spending cuts as plunging commodity prices slashed full-year profit 51 percent. The producer joins rivals including Vale SA and Glencore Plc in trimming or abandoning dividend payments as a safeguard against the deepening commodities collapse. Chief Executive Officer Sam Walsh told Bloomberg’s "On the Move" host Guy Johnson he’s predicting a tough year ahead.
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