What a difference two years can make. In early 2009, Rio Tinto was frazzled and, mid-crisis, groaning under $40bn of Alcan acquisition debt and scrabbling for cash. Now its biggest challenge is using up its abundant cash flow. Thanks to rising Asian commodities demand and surging prices, the Anglo-Australian miner’s underlying earnings in 2010 were $14bn and cash flow was $24bn. But crisis-chastened chief executive Tom Albanese remains cautious. He fears that the withdrawal of
兩年時間會讓局面發生多大的變化啊。2009年,力拓身處危機之中,在收購加鋁(Alcan)帶來的400億美元債務重壓下苦不堪言,急切需要現金。如今它最大的挑戰卻是如何花完充裕的現金流。由于亞洲大宗商品需求的提高和價格飆升,這家英澳礦業企業2010年實現基本利潤140億美元,現金流240億美元。不過,受盡危機磨難的首席執行官艾博年(Tom Albanese)仍然謹小慎微。他擔心,危機后刺激計劃的退出,可能造成大宗商品價格的大幅振蕩。