29
Jul
12:45
Rio Tinto’s first-half profit soars
Australian mining giant Rio Tinto has posted strong financial results for the first half of 2021, mainly thanks to soaring prices of iron ore. This also helped generate strong cash flow of $13.66 billion.
Rio Tinto achieved 118% and 156% year-on-year growth respectively in H1 underlying Ebitda and underlying earnings. These stood at $21.04 billion and $12.17 billion respectively, Kallanish notes.
Iron ore accounted for 76.33% and 83.94% respectively to overa…
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Very good overview of the weekly steel market.
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