December 11, 2013 / 10:20 AM / 4 years ago

Rio Tinto says has already exceeded 2013 cost saving target

LONDON (Reuters) - Global mining company Rio Tinto (RIO.L) told investors on Wednesday that it had already last month exceeded its 2013 target of cutting $2 billion of operating costs.

    Rio has slashed spending plans, including the amount allocated to exploration for new mines, and is in the midst of selling a clutch of coal, copper and other non-core assets, hoping to reduce its debt burden.

    It said earlier this month that it would halve capital spending to $8 billion by 2015 from last year’s level.

    Reporting by Clara Ferreira-Marques; Editing by Tom Bergin

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