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Rio Tinto is the worldâs second-largest miner. Photo: Vladimir Pirogov/Reuters
Rio Tinto (RIO.L) has posted a 38% drop in profits for last year and more than halved its dividend after being hit by weaker demand from China.
The worldâs second-largest miner said lockdown-hit China meant less need for steel in its economy, pushing weaker iron ore.
Rio Tintoâs underlying profit fell 38% to $13.28bn (£11bn) in 2022, while revenue for 2022 fell 13% to $55.5bn. Shareholders will ge...
>>> Read more: FTSE 100: Rio Tinto halves dividend as profits plunge
Rio Tinto (RIO.L) has posted a 38% drop in profits for last year and more than halved its dividend after being hit by weaker demand from China.
The worldâs second-largest miner said lockdown-hit China meant less need for steel in its economy, pushing weaker iron ore.
Rio Tintoâs underlying profit fell 38% to $13.28bn (£11bn) in 2022, while revenue for 2022 fell 13% to $55.5bn. Shareholders will ge...
>>> Read more: FTSE 100: Rio Tinto halves dividend as profits plunge
