Rio Tinto ready to buy assets from distressed miners, particularly in copper
Rio Tinto [ASX: RIO, LON: RIO] is interested in buying copper assets, the Australian Financial Review reported on 5-6 December.
Rio Chief Executive Sam Walsh said weak commodity prices could prompt distressed miners to sell top quality assets, which could provide an opportunity for the group, particularly in copper, the article noted.
Walsh said that third and fourth tier assets are being put up for sale, but those are not likely to interest potential suitors.
Walsh noted that Rio is better positioned than many of its rivals and is pursuing growth because it can.
Australian Financial Review