Diversified mining companies have vowed to reward shareholders more after being criticised for years of squandering money on risky projects that resulted in multibillion-dollar writedowns as metals prices started to fall.
However, rival BHP Billiton failed to deliver when it held fire on an expected buyback announcement on Tuesday, while
However, it was the balance-sheet improvement from the Las Bambas sale that allowed it to accelerate the return of capital to shareholders.
"We said that with the sale of Las Bambas we would return extra cash to shareholders," chief executive
"Our focus is on expansion that can generate profit, on a tidy, neat balance sheet and any excess cash we will give back to shareholders."
After posting an 8 percent rise in first-half core profit,
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