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
两年时间会让局面发生多大的变化啊。2009年,力拓身处危机之中,在收购加铝(Alcan)带来的400亿美元债务重压下苦不堪言,急切需要现金。如今它最大的挑战却是如何花完充裕的现金流。由于亚洲大宗商品需求的提高和价格飙升,这家英澳矿业企业2010年实现基本利润140亿美元,现金流240亿美元。不过,受尽危机磨难的首席执行官艾博年(Tom Albanese)仍然谨小慎微。他担心,危机后刺激计划的退出,可能造成大宗商品价格的大幅振荡。