MARKETS SPECTATOR: Rio and the Citi

Citigroup sees Rio Tinto as trading at an 'attractive discount' on the strength of its iron ore outlook, despite a landslide at its Utah copper mine.

Seven days ago Rio Tinto's unit, Kennecott Utah Copper, was struck by a landslide. Rio says the Bingham Canyon Mine knew the slide, in excess of 150 million tonnes of material, was going to happen. It had moved equipment, infrastructure, roads and people away from the affected area. No one was hurt.

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