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Mining companies slash spending

Posted By Tom Jackson On December 18, 2008 @ 10:44 am In Construction News | No Comments

Some $200 billion in development [1]is on hold for now, due to the global economy and declining metal and materials prices. Anglo American Plc. halted a $45 billion expansion program. Rio Tinto Group plans to cut spending by $5-billion.

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[1] $200 billion in development : http://www.bloomberg.com/apps/news?pid=20601109&sid=aKayM_8t6uak&refer=home

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