亿电竞

Iron ore prices rise, Rio Tinto's first half operating profit hit a five-year high
Time: 2019/8/2 10:39:12

China亿电竞平台 Coal Resources Network 2019-08-02 10:36:01

     

On August 1, Rio Tinto, a miner, released its financial report. Supported by the亿电竞 soaring iron ore price, the亿电竞 company's operating profit reached a new high since 2014 in the亿电竞 first half of 2019 (from January to June), in line with previous expectations.


Rio Tinto is the亿电竞 world's second largest iron ore producer. Strong first half results reflect strong revenue growth for othe亿电竞r Australian iron ore producers. Although affected by the亿电竞 tropical cyclone, iron ore production has declined, but the亿电竞 profits of the亿电竞se mining enterprises have also been boosted by the亿电竞 soaring iron ore prices.


Earlier this year, Western Australia was hit by a tropical cyclone, resulting in the亿电竞 interruption of iron ore shipment, and the亿电竞 world's largest iron ore producer vale dam failure caused by supply interruption, all of which led to a sharp rise in iron ore prices.


From January to June this year, Rio Tinto's basic revenue was $4.93 billion, up 11.5% from $4.42 billion in the亿电竞 same period of last year.


In addition, Rio Tinto also raised its interim dividend by 19% to 151 cents a share, and planned to pay a special dividend of $1 billion.


In the亿电竞 first half of the亿电竞 year, we are taking measures to protect our business Said jean-s é Bastien Jacques, Rio's chief executive.


Affected by the亿电竞 tropical cyclone at the亿电竞 end of March, combined with the亿电竞 operation problems of Pilbara mining area in Western Australia, the亿电竞 iron ore sales volume decreased, which affected the亿电竞 company's profit growth.


Rio Tinto's iron ore shipment in 2019 is expected to remain unchanged at 320-330 million tons. Since April, the亿电竞 company has lowered the亿电竞 forecast three times.


In addition, Rio Tinto's oyu Tolgoi copper project in Mongolia also suffered a write down loss of $800 million.


In the亿电竞 second half of 2020, the亿电竞 company expects to issue a final cost estimate and a mine expansion project plan.


Earlier this month, Rio Tinto estimated the亿电竞 cost of the亿电竞 project to reach $1.9 billion after the亿电竞 project was delayed for up to 30 months due to geological challenges at the亿电竞 oyu Tolgoi copper mine.

 
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