Rio Tinto to cut 14 000 jobs
The Rio Tinto Group will cut 14 000 jobs worldwide and reduce capital investment as part of new measures to reduce its debt amid waning demand for iron ore and other metals, the mining company said on Wednesday.
Rio Tinto will speed up its $14.8 billion iron ore expansion project in Australia by six months, joining other miners in hurrying production to fill a supply gap for the steel-making commodity.