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Mr Sam Walsh proud of Rio Tinto’s aluminium earnings- 2016 China(Guangzhou)Non-Ferrous Metals Exhibition
12/8/2015 non-ferrous metals expo |
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The Australian reported that Rio Tinto will tell investors at a London briefing that its reshaped aluminium business is achieving the best earnings margins in a global industry struggling in the face of smashed prices.
Speaking ahead of the briefing, Rio chief executive Mr Sam Walsh told The Australian that the investors would be shown a chart comparing Rio’s earnings before interest, tax and depreciation and amortisation to those of Alcoa, Rusal, Norsk-Hydro and Chinalco.
He said “It shows that we are way ahead. That is a function of what the aluminium team has been doing. It has done a great job in terms of improving its cost structure. We’ve pulled out just over $US1 billion ($1.36bn) in costs, and we’ve closed or shut just over 700,000 tonnes of aluminium capacity, and we closed the Gove refinery in the Northern Territory. So it’s been a tough time for the business. But the business has reshaped and the focus continues to be to improve the business.’’
Mr Walsh said that at the investor day, the division would talk about 500 projects aimed at improving the business and further reducing costs. He said “Importantly this is actually coming from our people themselves.”
有色金属展-2016年第十七届广州国际有色金属展览会-巨浪展览 non-ferrous
metals- 2016 China(Guangzhou)Non-Ferrous Metals Exhibition
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