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By Sameer Manekar, Shashwat Awasthi and Clara Denina
(Reuters) -Rio Tinto reported a 29% drop in first-half profit on Wednesday and more than halved its dividend, as the global miner was hurt by weaker iron ore prices due to cooling demand from top consumer China, higher costs and labour shortages.
It is still the second-highest interim payout ever, following on from the record payout dispensed last year when the global miner's profits benefited from a surge in commodity prices.
Since then ir...
>>> Read more: Rio Tinto slashes dividend as profits take a hit; shares tumble
(Reuters) -Rio Tinto reported a 29% drop in first-half profit on Wednesday and more than halved its dividend, as the global miner was hurt by weaker iron ore prices due to cooling demand from top consumer China, higher costs and labour shortages.
It is still the second-highest interim payout ever, following on from the record payout dispensed last year when the global miner's profits benefited from a surge in commodity prices.
Since then ir...
>>> Read more: Rio Tinto slashes dividend as profits take a hit; shares tumble
