 | Get all the essential market news and expert opinions in one place with our daily newsletter. Receive a comprehensive recap of the day's top stories directly to your inbox. Sign up here! |
(Kitco News) - Global mining giant Rio Tinto (LSE: RIO) (ASX: RIO) announced today that for the six months ended June 30 2023 (HY23), the company's net earnings amounted to $5.1 billion, down 43% compared to HY22 ($8.9 billion).
The company also reported underlying EBITDA of $11.7 billion and underlying earnings of $5.7 billion in HY23, leading to an interim dividend of $2.9 billion, a 50% payout, in line with its practice.
In a press release, Rio Tinto noted "softer” market conditions.
"We will continue paying attractive dividends and investing in the long-term strength of our business as we sustain and grow our portfolio, while contributing to society's drive to net zero," it added.
Previously, the company reported that in HY23, it produced 160.5 million tonnes of iron ore (up 7% y-o-y), 290 thousand tonnes of mined copper (-1% y-o-y), 25.6 million tonnes of bauxite (-8% y-o-y), and 1,598 thousand tonnes of aluminium (+9% y-o-y).
|
| First Quantum reports net earnings of $93M in Q2, notes improvements at three largest operations |
