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BRIEF-Rio Tinto expects total capital expenditure in 2016 to be around $5 billion

Published 08/12/2015, 04:27 pm
Updated 08/12/2015, 04:30 pm
© Reuters. BRIEF-Rio Tinto expects total capital expenditure in 2016 to be around $5 billion
RIO
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Dec 8 (Reuters) - Rio Tinto (L:RIO) Ltd RIO.AX :

* Rio Tinto update on aluminium and group capital expenditure RIO.AX

* "By the end of 2015, the aluminium product group will have delivered around $300 million of cash cost improvements"

* "Amrun will require capital investment of $1.9 billion, with most of the spending scheduled for 2017 and 2018, ahead of expected production in the first half of 2019"

* Project offers a return in excess of 20 per cent and over half its future output is already committed under off-take agreements

* "By the end of 2015,aluminium product group will have reduction of $45 million in sustaining capex and cut working capital by around $400 million versus 2014"

* Expects total capital expenditure in 2016 will be around $5 billion

* "Aluminium product group's smelting business continues to improve cost position"

* Source text for Eikon ID:nASX1lDxRV

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