While South African-born Rio Tinto chairperson Jan du Plessis was vowing not to expand Rio’s iron-ore division beyond 360-million tonnes a year, the globally perceived over-producer of iron-ore was outlining the steps it had taken to cut near-term maturing gross debt by $1.5-billion.
Rio said the debt-cutting involved $1.359-billion of its gross debt being bought under an any-and-all offer and $141-million under a Dutch auction offer.
