Deals
Rio Tinto CEO Sees Mining Distress Spreading to Majors
- Rio has M&A target list for mines not yet for sale, CFO says
- Range of industry assets better suited to Rio, Walsh says
Walsh Sees a Tough 2016 For Rio Tinto, Worse Than 2015
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Distress from the commodity-price rout may soon spread from small mine operators to industry majors, forcing some to sell desirable assets and creating opportunities for others, the world’s second-biggest miner said.
“We will see distressed players not only at the junior and mid-tier level, I think it will actually flow through to some of the majors,” Rio Tinto Group Chief Executive Officer Sam Walsh said in an interview with Bloomberg Television on Thursday. “There are a range of assets that could be more natural in Rio Tinto’s portfolio than some others.”