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J-S keeps investors sweet ... for now

Rio Tinto boss Jean-Sébastien Jacques likes doing things with a flourish. And so it was with the surprise decision to unveil a new US$2.5 billion share buy-back to absorb the funds freed by the group’s exit from Hunter Valley coal producer Coal & Allied.

J-S keeps investors sweet ... for now J-S keeps investors sweet ... for now J-S keeps investors sweet ... for now J-S keeps investors sweet ... for now J-S keeps investors sweet ... for now

J-S claims Rio has the strongest balance sheet in the sector

It was a surprise because of the speed with which the funds are to be directed to the share buyback, and because it came against a backdrop of plunging iron ore prices, down now by $13.