Rio Tinto Sees Earnings Fall in First Half
Rio Tinto recently reported first half financial results. Underlying earnings were $5.2 billion, down 34% vs. the same period last year, reportedly due to lower prices. Net earnings were $5.9 billion, a decrease of 22%.
The company also reported that phase one Pilbara iron ore expansion to 283 Mt/a is on track for completion by end of 2013. Second phase expansion to 353 Mt/a should be operational by the first half of 2015.
For additional information, visit www.riotinto.com.