Mining News

Lower commodity prices hits Rio’s bottom line

Mining major Rio Tinto has seen a 28% drop in profits after tax for the interim period of 2022, and a 26% fall in underlying earnings before interest, tax, depreciation and amortisation (Ebitda), when compared with the same period in the 2021 financial year.

The miner on Wednesday reported a profit after tax of $8.9-billion, compared with the $12.3-billion reported in the same period of 2021, while underlying Ebitda decreased from $21.03-billion to $15.59-billion in the same period.

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