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Rio Tinto Reports Record Underlying Earnings Since 2011

Mining company Rio Tinto reported on Wednesday a record-breaking earnings since 2011 on the back of higher iron ore rates, but delivered a warning that coronavirus cases uptick could adversely affect business in the short date.

rio tinto declares record profit resultsPhoto: Reuters

The world’s leading iron ore producer stated profit from underlying operations for the year ending December 31 grew from the prior $8.81 billion to $10.37 billion at annual rate, failing to meet analysts average estimates for the growth of $10.40 billion.

Rio Tinto also announced final dividends of $2.31 per share, in contrast to $1.8 per share in 2018.

Shares of Rio Tinto went down by 1.83 percent.

Source: Reuters


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