Rio Tinto posts modest profit as iron ore prices plunge
A weak iron ore price and excessive air focused on Rio Tinto’s profit, but the mining giant is sure of the next road.
Rio gave a net profit of $ 4.5 billion ($ A6.9 billion) with a 22 percent shift in the same period last year, after Pilbara operations were affected by four cyclones.
At the same time, iron ore prices from US $ 107 to $ 93 per ton card card.
General Manager Jakob Stausholm, who would lead to the patron Simon Trott, who came on August 25, called it a “flexible” result.
It focused on the results of the positive earnings and cash flows that were floated by aluminum and copper.
“We are staying on the road to provide strong medium -term production growth with solid foundations and various options line for the future, Sta said Stausholm, Stausholm.
The company will pay a temporary dividend of US $ 1.48 (A2.27) per share and deliver the promised 50 percent payment rate worth $ 2.4 billion.
Rio Tinto’s production guidance did not change to a great extent, but Pilbara shipments leaned over in the first quarter to fall to the lower end of the expected range due to cyclones.
Bauxite and copper production was expected to be higher end of expectations thanks to better mine performances than expected and a successful ramp in an underground mine in Mongolia.
Rio’s seizure of Arcadium lithium, property and equipment purchases, dividends and other exits with $ 3.8 billion dividends and other exits with $ 7.6 billion (A11.7 billion dollars) came.
“We are in a good position to create value with the demand for our products in the next decades, çalışma
RBC Capital Markets analysts Kaan Peker and Ben Davis said that the thought about the result would be positive.
“Rio Tinto has produced a good operational result in the key sections with six percent of the product group level,” Analysts wrote.
“However, this was dragged by other products, including the restructuring costs in Arcadium.”
When we look at it further, the miner said it seems durable with the continuation of the growth of the commodity demand supported by the energy transition of the global economy.
In the report, China’s ongoing growth expectations supported by the ongoing domestic stimulus and a government that committed infrastructure investment in the face of the surrounded property sector were also optimistic.
The US economy continued despite the fact that tariff effects were still fed by inflation and consumer sensitivity, but the housing industry remained weak with high mortgage rates, construction costs and bad labor supply.
Australian Associated Press is a beating heart of Australian news. AAP has been the only independent national Newswire of Australia and has been providing reliable and fast news content to the media industry, the government and the corporate sector for 85 years. We inform Australia.
