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Rio Tinto and Glencore, two major mining companies, reported significant drops in earnings for the year. Rio Tinto's full-year underlying earnings fell by 11.1% due to lower contributions from its aluminium business, while Glencore saw its earnings halve to just over $17 billion because of lower commodity prices. Glencore also slashed its payout to investors as it seeks to reduce debt.
Rio Tinto declared a 12% fall in annual underlying earnings, though that was in line with forecasts. The British-Australian firm, however, did pay a better-than-expected final dividend as it said inflation pressures were starting to fade. Read more https://t.co/NrdS0U2Lvz https://t.co/5xPcyfhkiN
Two commodities giants reported big falls in earnings. Rio Tinto reported a 12% fall in annual underlying earnings, while rival Glencore said lower commodity prices had halved its earnings last year https://t.co/CyX8YsXEw3 https://t.co/ez6uc9rcV6
Two commodities giants reported big falls in earnings. Rio Tinto reported a 12% fall in annual underlying earnings, while rival Glencore said lower commodity prices had halved its earnings last year. Read more https://t.co/ApOkM2pKww https://t.co/y3OfiOtJqD