Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Commodities»Weaker iron ore prices hit Rio Tinto earnings
    Commodities

    Weaker iron ore prices hit Rio Tinto earnings

    February 19, 20253 Mins Read


    Stay informed with free updates

    Simply sign up to the Mining myFT Digest — delivered directly to your inbox.

    Rio Tinto’s earnings fell last year due to weaker iron ore prices and inflationary pressures, the Anglo-Australian mining group said on Wednesday.

    The London-listed group, which is a leading iron ore and aluminium producer, said underlying earnings fell 7 per cent to $10.9bn during 2024. However, net earnings, which take into account impairments and asset disposals, rose 14 per cent compared with the previous year to hit $11.6bn.

    The average price of iron ore sold by Rio in 2024 was 11 per cent lower than the previous year, it said, contributing to a drop in earnings from the steelmaking ingredient.

    Mining groups reporting their results this week, such as Glencore and BHP, have been hit by lower prices for iron ore and coal, as well as inflationary pressures that are pushing up operating costs.

    Although Rio has pointed to “signs of stabilisation” in the Chinese property market, which is a major driver of commodities demand, it is grappling with lower iron ore earnings due to weaker overall demand from the Asian country.

    Ben Davis, analyst at RBC, said Rio’s annual results were “delightfully straightforward”, noting that dividends of $6.5bn for 2024 were still in line with expectations even as underlying earnings fell slightly below average forecasts.

    Earnings from Rio’s aluminium and copper businesses picked up, reflecting an expansion of its giant Oyu Tolgoi copper mine in Mongolia.

    Rio, which owns significant aluminium operations in Canada, is highly exposed to the fast-changing tariff policies of US President Donald Trump, according to analysts. New measures announced by the administration include a 25 per cent tariff on US imports of aluminium and steel.

    Chief executive Jakob Stausholm said Rio might redirect some of its Canadian aluminium away from the US market as a result of the tariffs. Canada is the biggest exporter of aluminium to the US.

    “It is probably not going to be significant for us, it might be more hard for our customers,” said Stausholm, who is in Washington this week to meet Trump administration officials.

    Rio’s large portfolio of commodities — which span from lithium to copper to iron ore — will help to minimise the impact of specific tariffs, he added.

    Rio has several US mines and processing facilities, and is waiting for a decision from the country’s Supreme Court that could determine the fate of its proposed development of the Resolution copper mine in Arizona.

    Three members of Rio’s board will step down this year — Sam Laidlaw, Simon Henry and Kaisa Hietala — shrinking its size from 14 members, to 11.

    Activist shareholder Palliser Capital has campaigned for the company to shift its primary listing from London to Sydney, arguing the move will boost the group’s valuations.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    trois jours de rock et de metal au château de Gisors

    Commodities

    Tournon-d’Agenais. L’art du métal par John

    Commodities

    Cameroun : 12 milliards USD pour raccorder 8 millions de personnes d’ici 2030, le pari de l’émergence énergétique

    Commodities

    de possibles baisses de production dans le nucléaire dès lundi

    Commodities

    ce Poitevin qui met le feu au festival metal de Clisson

    Commodities

    La première place pour les électriques à l’EcoGreen Energy 2025

    Commodities
    Leave A Reply Cancel Reply

    Top Picks
    Cryptocurrency

    How to choose the best cryptocurrency project using the crypto calendar?

    Fintech

    Paiements internationaux simplifiés : découvrez Lync, la plateforme de Waza

    Cryptocurrency

    Cantor teams up with Tether, Softbank for $3.6 billion crypto venture

    Editors Picks

    Le bureau du contrôleur de la ville de New York soumet des propositions d’actionnaires à Alliant Energy Corporation

    April 1, 2025

    India Notifies Exports to Maldives for 2025-26: Rediff Moneynews

    April 1, 2025

    Time to sell U.S. property? Read this before you list it

    April 21, 2025

    Seaport dégrade PayPal et Bill.com avant les résultats du T1 en raison des tarifs douaniers

    April 17, 2025
    What's Hot

    Introducing The S&P Commodity Risk Premia Diversifier TCA Index

    January 28, 2025

    60% of UK landlords remain optimistic about future portfolio performance

    October 14, 2024

    Top Fintech Conferences to Attend in 2024

    August 11, 2024
    Our Picks

    ‘My £250 investment is now worth only £12’

    October 26, 2024

    Instagram user tricks Athens man into ‘pig butchering’ investment scam

    March 28, 2025

    Tampa tops US cities with highest property tax increase: LendingTree

    May 12, 2025
    Weekly Top

    Cameroun : 12 milliards USD pour raccorder 8 millions de personnes d’ici 2030, le pari de l’émergence énergétique

    June 21, 2025

    Wave Cameroun paiement • Révolution mobile

    June 21, 2025

    Syndrome de Silver Russel: le combat d’une mère et de l’ex-recteur de l’UNIGE

    June 21, 2025
    Editor's Pick

    Gold Edges Lower as Traders Book Profits Ahead of Key US Data

    August 13, 2024

    How to Setup Your Real Estate Agent Facebook Page in 2024

    August 25, 2024

    Philippine agricultural trade surges 17.3% in fourth quarter of 2024

    February 18, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.