12th Oct 2015 06:44
LONDON (Alliance News) - Rio Tinto PLC has said it won't cut copper production, according to a Financial Times report on Monday.
The FTSE 100 miner said it would not be logical to hold back output and leave space in the market for rivals with higher costs, the report said.
The news comes as Glencore PLC said it has begun a process to sell its wholly-owned Cobar copper mine in Australia and Lomas Bayas copper mine in Chile, while last month Glencore said its 74% owned Katanga mine in the Democratic Republic of Congo will suspend copper and cobalt production for 18 months.
By Samuel Agini; [email protected]; @samuelagini
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