SYDNEY, Dec 8 (Reuters) - Rio Tinto RIO.AX RIO.L said it expects its 2016 capital spending budget to fall by about $500 million to $5 billion, but said it remained well placed to invest in its businesses.
"Our prudent capital allocation and disciplined approach to the balance sheet have reinforced our resilience during this period of ongoing volatility," Chief Executive Sam Walsh said in a statement.
The company previously has said it anticipated 2016 capital expenditure to total about $5.5 billion.