RIO preaches to the choir

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The MSM is getting moving on a new grovel today, RIO, from the AFR:

Sam Walsh has urged Rio Tinto employees not to let up after a “seriously good” third quarter as he relishes defying the “sorrowful stories” about the mining sector being put about by commentators.

In an internal memo to “the best team in the mining industry”, the Rio chief executive said the September-quarter operations report, released on Friday, showed the mining giant’s success in controlling costs, increasing productivity and efficiency. He said the results made the group “the envy of many around us”.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.