Rio on better terms

RIO Tinto has reduced its payment terms for Australian suppliers it is spending less than $1 million with to 30 days, which will help improve cash flow for the small businesses.

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Rio Tinto operations on the Burrup Peninsula in the Pilbara, WA.

Under the terms suppliers will get paid 30 days from the receipt of a correct invoice, replacing the current standard terms of 45 days from the end of month after a correct invoice has been received.

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