The sale of the Clermont coal mine by Rio Tinto to Glencore was one of the significant releases to come out of the last week

Livewire Equities

The sale of the Clermont coal mine by Rio Tinto to Glencore was one of the significant releases to come out of the last week. Any doubt about the intention and ability of major resource companies to focus on shareholder returns can now be dispelled. The following quote from RIO's CFO sums it up The sale of Clermont Mine will allow us to realise value for our shareholders as we continue optimising our portfolio. It also demonstrates our focus on strengthening our balance sheet and taking a disciplined approach to allocating capital across the Group. Following the discussion that bubbled following BHP's recent quarterly it would be fair to say RIO has taken notice and dividends/buybacks are likely to remain a focus for investors. (VIEW LINK)


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