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Rio Tinto H1 earnings more than double on higher commodity prices
August 2, 2017 / 6:32 AM / 4 months ago

Rio Tinto H1 earnings more than double on higher commodity prices

Aug 2 (Reuters) - Global miner Rio Tinto on Wednesday reported its first-half profit more than doubled from a year earlier following a rebound in iron ore prices and announced an additional $1 billion share buyback.

Underlying earnings for the six months to June 30 rose to $3.94 billion from $1.56 billion a year earlier, missing Thomson Reuters I/B/E/S analysts’ forecast of $4.19 billion.

Rio Tinto declared a half-year dividend of 110 cents a share, from 45 cents a share a year ago. (Reporting By Shashwat Pradhan in Bengaluru; Editing by Richard Pullin)

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