- Rio Tinto's (RIO) 2013 underlying profit rose 10% to $10.2B and topped consensus of $9.7B, boosted by $2.3B in cost cuts.
- The mining giant swung to a net profit of $3.7B from a loss of $3B in 2012, when it took significant charges on its aluminum and coal assets. Consensus was for $7.59B.
- Last year's net profit reflects non-cash exchange losses of $2.9B and impairments of $3.4B, notably on Rio's Mongolian Oyu Tolgoi copper project.
- Plans to cut another $3B in costs this year.
- Net debt dropped by $1.1B to $18.1B.
- Rio reported record output of iron ore, bauxite and power-station coal for 2013.
- Iron ore output +5% to 266M metric tons.
- Rio Tinto increased its final dividend to $1.92 from $1.67 a year earlier. (PR)
From other sites
Video at CNBC.com (Feb 12, 2015)
Video at CNBC.com (Feb 6, 2015)
at CNBC.com (Jan 19, 2015)
at CNBC.com (Jan 16, 2015)
at CNBC.com (Jan 14, 2015)
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