worldwide mining company Rio Tinto (RIO.L) (RIO.AX) is
searching out possibilities to amplify in Africa as it
bets on long time demand increase for minerals, a senior govt said on Monday.
a sharp fall in commodity expenses is forcing maximum mining
firms to preserve back on growth, however Rio Tinto is seen a ability favorite
for investors as it is a low fee producer, with a more potent stability sheet.
"the worldwide drivers for long time call for for
African minerals all factor within the proper direction," Rio Tinto leader
govt for Diamonds and Minerals Alan Davies told a mining conference in Cape
town.
"Rio Tinto continues to make investments and probe for
opportunities in Africa, particularly in Botswana
and Namibia."
He did now not offer in addition information, but both Botswana
and Namibia are
a few of the foremost diamond manufacturers in Africa.
Rio Tinto presently has five,000 personnel and contractors
throughout its African operations, Davies said.
prices of maximum commodities have in current months fallen
to multi-years, hit by way of oversupply and slowing increase in predominant
purchaser China.
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