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Markets News

Rio Tinto first-half profit drops 4%

July 29 (Reuters) - Anglo-Australian miner Rio Tinto’s first-half profit fell 4% on Wednesday, as coronavirus-driven disruptions spurred a drop in copper shipments, overshadowing the impact of higher iron ore prices.

Underlying earnings for the six months ended June 30 fell to $4.75 billion from $4.93 billion a year earlier, but beat a consensus of $4.36 billion from 16 analysts compiled by Vuma.

The world’s largest iron ore miner declared an interim dividend of $1.55 per share, up from $1.51 last year. (Reporting by Shashwat Awasthi and Shriya Ramakrishnan in Bengaluru; Editing by Bernard Orr)

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