GREY:PGDIF - Post by User
Post by
ekimon Mar 23, 2017 2:19pm
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Post# 26021618
Rio Tinto - recent article
Rio Tinto - recent articleRio is venturing into other, rare commodities trying to look toward future value --
Rio Tinto - venture money Not specific to Diamonds...but the last paragraph is very telling.
Here it is:
"Rio told investors last year it anticipated capital expenditure staying at around $2 billion per year for the next three years, adding that the correlation between exploration spending and discovery rates ceased in around 2005 as finding new, high-quality deposits is proving harder when the best reserves have been depleted."
They used to be able to replace deposits/reserves as a business model up to 2005 by doing exploration spending...but that model has failed since. That is 12 years ago.
LONG...PGD
EKIM