Rio Tinto posts higher net profit in H1, iron ore shipment guidance unchanged

Wednesday, 28 July 2021 12:27:51 (GMT+3)   |   Istanbul
       

Australia-based miner Rio Tinto has announced its financial results for the first half this year, posting a net profit of $13.06 billion for the given half, compared to $3.45 billion in the same period of the previous year. In the first half this year, the company’s consolidated sales revenues increased by 70.8 percent to $33.08 billion compared to the first half last year. The company’s underlying EBITDA in the given period totaled $21.04 billion, increasing by 118.2 percent year on year.

The company delivered a dividend of $5.61 per share in the given half.

The company expects its capital expenditure of $3.34 billion in the first half this year to be around $7.5 billion in each of 2021 and 2022, unchanged from the previous guidance. Rio Tinto’s Pilbara iron ore shipment guidance for 2021 has remained at 325-340 million mt.

“Government stimulus in response to ongoing COVID-19 pressures has driven strong demand for our products at a time of constrained supply resulting in a significant spike in most prices. We focused on safely running our world-class assets and supplying products to our customers,” Jakob Stausholm, Rio Tinto Chief Executive, said.


Most Recent Related Articles

Moody’s: Global steel supply-demand imbalance to return in 2022 with prices gradually falling

Strike Resources issues new production plans for Paulsens East Iron Ore Project

Iron ore exports via Port Hedland down 0.8% in August from July

Nippon Steel’s profit may exceed forecast amid higher steel prices

Fortescue posts record profit and revenue for FY 2020-21 amid strong demand