Rio Tinto sets $2B copper outlay

Nov 29, 2010 | 12:42 PM |

Rio Tinto Plc over the next three years will invest more than $2 billion in its existing copper operating assets, it said, forecasting a drop in 2010 global production.

"As a result of variable grades across the mine lifecycle, 2010 mined copper production is expected to be 661,000 tonnes," the Anglo-Australian miner said.

This compares with global mined copper production of 804,700 tonnes in 2009. The effect of lower grades will continue in 2011 before rebounding in 2012, Rio Tinto said. ....

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