Rio Tinto
Rio Tinto (NYSE:RTP) said it is looking at opportunities to acquire companies or spend money on existing projects after raising about $10 billion in the sale of its assets over the last couple of years, boosting its balance sheet.
Rio Tinto Group Chief Financial Officer Guy Elliott commented on that in a recent interview, adding they are no longer planning on selling its talc or borax divisions.
Elliot said the types of projects they're looking at expanding internally or acquiring would be those operating in the early stages, assuming they're looking at high-growth possibilities.
“We are very happy with the progress of the recapitalization since June,” Elliott said. “We have lots of organic options and this gives us the flexibility to progress those if they require funding.”
For acquisitions or mergers, the company will look for quality and something they can "add value to."
In response to the recession, Rio ended up having to cut spending drastically while selling of its assets, part of which ended with slashing 16,000 jobs as precious metal demand slid during that period of time.
Rio Tinto
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