Higher prices for its key commodities drove Rio Tinto’s massive $US3 billion return to shareholders.
Here’s the role iron ore, Rio’s biggest earner, played in underlying earnings:
Rio reported sales revenue of $19.3 billion, $3.8 billion higher than 2016 first half, mainly due to higher average commodity prices.
Underlying earnings from iron ore were $3.25 billion, up 87% or $1.51 billion on the 2016 first half.
Achieved average price in the first half was $62.4 per wet metric tonne.
Here’s the gross revenue detail by division:
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