Business Standard

Rio Tinto's record 2021 profit masks challenges to growth outlook

Rio Tinto Group posted record profit for 2021 on strong demand for iron ore from China

Rio Tonto
Premium

Photo: Bloomberg

James Thornhill | James Thornhill
Rio Tinto Group posted record profit for 2021 on strong demand for iron ore from China. Repeating the result may prove difficult, as it grapples with an uncertain demand outlook, rising cost pressures, and challenges to its growth projects.  

The world’s top iron-ore producer reaped annual underlying earnings of $21.4 billion, according to a company statement Wednesday, surging 73% from the prior year and broadly in line with a median estimate. Rio will reward shareholders with a final dividend totaling $6.7 billion and, despite the immediate headwinds, is buoyant about its long-term prospects.

“We have a portfolio that is well positioned, and
Topics : Rio Tinto

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 23 2022 | 1:40 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com