Rio Tinto Group, the world’s second- biggest mining company, will cut capital spending to about $8 billion in 2015, less than half its outlay last year, as mineral producers conserve cash after prices fell.
Shares in the world’s biggest mining companies fell to the lowest in almost four months as signs the U.S economy is strengthening increased speculation that the Federal Reserve will reduce its monetary stimulus.
ThyssenKrupp AG plans to sell equity equivalent to as much as 10 percent of its market value as the largest German steelmaker found buyers for a U.S. plant that was part of the 202-year company’s worst investment.
Fibria Celulose SA, Brazil’s largest pulpmaker by market value, rose the most in a month after joining a federal program to refinance a 587 million reais ($252 million) tax bill and agreeing to sell land.
Vale SA, the world’s biggest iron- ore producer, agreed to pay 22.3 billion reais ($9.6 billion) to settle a decade-long tax dispute with Brazil over profits of its foreign units, ahead of a deadline tomorrow.