Rio Tinto, the world’s second-largest mining company by market value, said it was preparing for a slowdown in the US economy and the eurozone.
Concerns about the Omicron mutation and persistent supply problems have affected economic activity in the United States, said the company, which is a major supplier of steel ores and industrial metal components, copper and aluminum.
Underlining the low economic activity in the eurozone at the end of 2021, he stressed that “the current level of restrictions indicates a slower-than-expected start for 2022, especially for service-based economies.”
China, meanwhile, is expected to continue adjusting its policies to balance its different priorities, Rio Tinto said, adding that soft development measures should help real estate, infrastructure and consumption.
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Source From: Capital
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