Rio Tinto Limited
(ASX:RIO)says there are signs of a modest economic recovery, despite persistent market fragility and volatility.
The global miner says it has delivered a $US1.8 billion improvement in operating cash costs in the ten months to October and remains on track to deliver the $US2 billion target for 2013.
Rio Tinto also announced an $US800 million reduction in exploration and evaluation spend in the ten months to October.
The miner forecast 2013 total capital expenditure of less than $14 billion, a reduction of more than 20 per cent compared to 2012.
To date, the miner says the proceeds of its divestments total $2.3 billion.
Rio Tinto delivered a net profit of $1.8 billion in the first half of fiscal 2013.
