Diversified portfolio a safer bet during Covid-19, ex-Rio Tinto head says

A diversified portfolio may well prove to be a winning ticket for metals and mining companies during the Covid-19 pandemic, according to the former chief executive officer of Rio Tinto.

This is in stark contrast to the global financial crisis of 2008-09, when an across-the-board hit to demand broadly left diversified miners in the same position as pure-play operators, Tom Albanese said.
“When the 2008-09 financial crisis hit, pretty much everything was hit; all commodities were down. If you had commodities, you were a leader in with a low cost structure, you were resilient [in that industry]; but [the industry] didn’t have winners and losers.,” he told Fastmarkets during a webinar interview on Thursday May 14. 

“This crisis is a bit different because you very clearly have some winners and losers – people aren’t...

Published

Andrea Hotter

May 15, 2020

21:33 GMT

New York