Rio Tinto (RIO) is committed to cutting capex and operating costs and selling non-core assets...

|About: Rio Tinto plc (RIO)|By:, SA News Editor

Rio Tinto (RIO) is committed to cutting capex and operating costs and selling non-core assets while ramping up production, CEO Sam Walsh says. Rio previously announced plans to cut its operating cost base by $3B by the end of 2014 and is on track to cut $2B this year alone, Walsh says, and is targeting a $750M reduction in exploration and evaluation costs this year. RIO -3% premarket.