Rio Tinto Earns Record Profit, Still Aims Higher

Rio Tinto Earns Record Profit, Still Aims HigherWorld economic outlook is totally uncertain for all but seems not for Global miner Rio Tinto, as it is confident to gain double demand for its main products of iron ore, coal and aluminum ahead.

Industrialization in Asia has boomed the commodities market majorly and keeping this growing industrialization as the base of its future estimations as well, Rio Tinto said, on Thursday, that the Company has gained a record high net profit of $US7.6 billion ($A7.08 billion) this year as compared with the previous corresponding period and will grow further more in the future.

Though underlying earnings of $US7.78 billion ($A7.25 billion) were slightly below the analysts' expectations of around $US8.03 billion ($A7.48 billion), the Company is really pleased with its net profit earned.

Upon making a record high net profit, Chief Executive Mr. Tom Albanese said that he is pleased with the first half profit earned by the Company despite floods and cyclones, which tumbled production early in the year.

Also, the Company has plans to pay an interim dividend of 54 US cents a share, up of 20%.

"We were actually quite pleased with the quality of the result, particularly given the severe weather conditions we saw affecting volumes and to some extent costs in the first half", Mr. Albanese told reporters.