Rio Tinto (RIO) slashed payout to shareholders
Rio Tinto (RIO), the world's second largest miner with a market value of £100 billion, has recently slashed its dividend as revenue and cash from its mining operations dropped.
Before we proceed, a short summary of Rio Tinto's activities is in order. The company is a major seller of iron ore ($30 billion in revenue), aluminium ($14b), copper ($6.7b) and other minerals ($6.8b). It is a huge company with thousands of employees engaging in mining, exploration and refineries. A major part of its operations is in the resource-rich Australia.
What caused Rio Tinto to reduce shareholders payout? Shrinki...