rio tinto share price ASX RIO

Rio Tinto (RIO)

Rio Tinto Limited is an international mining company. The Company has interests in mining for aluminum borax coal copper gold iron ore lead silver tin uranium zinc titanium dioxide feedstock diamonds talc and zircon. Dually-listed company with RIO LN.

Our Commentary: Updated 15th February 2013

Rio has released its FY12, where it reported a net loss of US$2.99 billion – down from a net profit of US$5.8 billion in FY11.

The loss came about after the firm wrote down US$14.4 billion on its aluminium business and Mozambique operations. The company’s total iron ore production for FY12 increased 4% from 244.6 million tonnes in FY11 to 253.4 million tonnes.

The group expects to produce 265 million tonnes of iron ore in FY13. The firm announced that it will pay a fully franked interim dividend of US 167 cents on 11 April 2013 whilst FY13 capital expenditures were reduced to about US$13 billion.

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