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MINER'S RIGHT
Miner or manufacturer?
Dividend up 12%. Exploration spending down 28%. Those two numbers tell an important story about what happened at Rio Tinto in the six months to June 30, and probably reflect what’s happening across the mining industry.
The situation can be summed up in two words: “shareholders rule”, which is exactly as it should be because they own the business. Management is merely the hired help. If only it was that simple and the...
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