The world's biggest miner on Wednesday also backed away from a plan announced by Chief Executive Marius Kloppers in 2011 to spend $80 billion over five years to expand its iron ore, coal, energy and base metals divisions, banking on continuing high demand from its main market, China.
"It is all about appropriate allocation of capital. When Marius (Kloppers) talked about the $80 billion, the environment was different," Chairman Jacques Nasser said.
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