Rio Tinto today reinforced its focus on delivering superior cash returns for shareholders over the short, medium and long term as it unveiled key features of its drive to generate $5 billion of additional free cash flow over the next five years.
In a presentation to investors at a seminar in Sydney, Rio Tinto demonstrated how it leads the sector in delivering cash returns to shareholders, returning 40 per cent of cash generated to shareholders in the first half of 2017 - representing about half of all the returns by the top miners.
Rio Tinto also reiterated an unwavering focus on safety and cash generation and provided for the first time a detailed review of how it will drive further productivity across its portfolio, from mine through to market.
Reaffirming its successful value-over-volume strategy built on world-class assets, a strong balance sheet, disciplined capital allocation and operational excellence, Rio Tinto said its portfolio of high-quality products had a strategic competitive advantage in commodities that are playing a key role in global urbanisation. Providing customers with the quality products that are in high demand in key markets secures a premium and positions Rio Tinto to continue to outperform its peers.
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