Rio Tinto (RIO) says it is speeding up $500M in planned cost cuts as it lowers its growth...


Rio Tinto (RIO) says it is speeding up $500M in planned cost cuts as it lowers its growth forecast for China. The no. 2 global iron ore miner depends heavily on Chinese steel demand picking up, but is uncertain when it will see the impact of announced stimulus plans. The Oyu Tolgoi mine in Mongolia may be delayed due to prolonged talks with China over power supply to the mine. RIO +1.8% premarket.

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