Rio Tinto Digs Deep for Investor Payout Despite Profit Drop

The mining giant‘s iron-ore business has recently benefited from elevated prices, strengthening Chinese demand.

SYDNEY—Rio Tinto PLC increased its midyear dividend payout despite a 20% fall in net profit, as it balanced high iron-ore prices with an uncertain outlook for the global economy.

2020欧洲杯APPRio Tinto reported a net profit of $3.32 billion in the six months through June, down from $4.13 billion a year earlier when it wrote down its investment in the Oyu Tolgoi copper deposit in Mongolia. Management said the decline in statutory profit reflected higher impairment charges, exchange-rate losses and extra closure costs for some assets.

To Read the Full Story

Continue reading your article with
a WSJ membership

View Membership Options