Rio tinto intends to buy back $2.5 billion of bonds to cut debt

The world's second largest mining company Rio tinto group and would buy back $2.5 billion of bonds as part of the new plan to reduce debt. The company said in a statement on Monday, has released $1.7 billion is about to expire in 2019 and 2020 paper of repurchase notice, and is about to expire in 2021 to 2025, as much as $781 million in five pieces of paper, put forward the cash to buy back the offer. The world's biggest mining group is looking for ways to cut debt, to help control prices, this forced them to cut its dividend, cost control and asset sales. The london-based Rio tinto cut debt 30% last year, or about $9.6 billion. Last year, the company completed a $7.5 billion bond repurchase.