Rio Tinto's , first-half underlying earnings fell to their lowest in three years as easing iron ore prices offset an uptick in shipments from its Pilbara operations, it said on Wednesday, while also announcing a dividend cut.
first-half underlying earnings fell to their lowest in three years as easing iron ore prices offset an uptick in shipments from its Pilbara operations, it said on Wednesday, while also announcing a dividend cut.
Rio, the world's biggest iron ore producer, was cautiously optimistic on China's economy over the rest of the year, CEO Jacob Stausholm said. Rio realised lower commodity prices during the six months that ended on June 30, in line with slowing global consumption but continues to see solid demand for its products in China, the world's biggest steel producer.
The Anglo-Australian miner declared an interim dividend of $1.77 per share, below last year's $2.67 and slightly below a Vuma consensus of $1.80.
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