Rio Tinto stretches supplier payment terms amid low commodity prices

Rio Tinto has extended the timeframe in which it will pay its suppliers to 45 days, from 30 days previously, blaming lower commodity prices.

The miner informed suppliers in early June, in an email signed by ceo Sam Walsh, that it was changing its corporate payments policy and process, effective immediately. The new payment terms are 45 days from the end...

Published

Janie Davies

July 02, 2015

17:46 GMT

London