Rio Tinto sets record dividend as profits soar

Reuters Videos
2 年前

STORY: Rio Tinto has set a record dividend of almost $17 billion.

The mining giant has been boosted by higher iron ore prices, and strong demand from top consumer China.

That drove it to underlying earnings of just under $21.4 billion last year.

That was up 72%, but actually slightly below analyst forecasts.

Chief Executive Jakob Stausholm credited a global recovery and strong pricing for the firm’s major commodities.

The surge came despite health crisis-related restrictions and tight labor market conditions.

Rio Tinto has faced worker shortages in Australia, and had previously forecast weaker-than-expected iron ore shipments in 2022.

On Wednesday (February 23) it warned of rising costs per tonne at at its Pilbara mine in Australia.

It also said that U.S. sanctions on Russia could disrupt supplies of aluminium.

The firm’s London-listed shares edged lower in early trades.