Rio Tinto Half Year Profit Plummets 71% on Weak Commodity Prices

  • Friday, August 9, 2013
  • Source:

  • Keywords:iron ore
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[FERRO-ALLOYS.COM]Rio Tinto's (RIO) H1 underlying earnings fell 18% to $4.23 billion and net profit collapsed 71% to $1.72 billion on weak commodity prices.
 
CEO Sam Walsh says although Chinese growth is not expected to recover in H2, Rio won't suffer a hard landing.
 
Whether or not an additional $5 billion will be invested into the iron ore division will be decided at the end of 2013.

 in early Thursday London trading were up 1.35%.

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