Rio Tinto signals end to era of record mining returns

Rio Tinto has signalled an end to the era of record returns in the mining sector, as the Anglo-Australian group reported a sharp drop in half-year profit and more than halved its dividend payment. Rio, the world’s largest producer of steelmaking ingredient iron ore, reported underlying earnings of $8.6bn for the six months to June, down from a record $12.2bn last year, on sales of almost $30bn. While that is still the second-highest half-year payout on record and in line with its dividend policy, the dividend is significantly lower than last year’s payment of $9.1bn and below what analysts had expected.

By Matt Earle

Matthew Earle is the Founder of MiningFeeds. In 2005, Matt founded to provide data and information to the mining investment community. This site was merged with Highgrade Review to form MiningFeeds. Matt has a B.Sc. degree with a minor in geology from the University of Toronto.

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