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BRIEF-Rio Tinto Posts H1 Underlying Earnings Of $4,750 Million

Published 29/07/2020, 04:21 pm
RIO
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RIO
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July 29 (Reuters) - Rio Tinto (LON:RIO) Ltd RIO.AX :

* INTERIM ORDINARY DIVIDEND OF $2.5 BILLION

* H1 NET EARNINGS $ 3,316 MILLION VERSUS $4,130 MILLION

* INTERIM DIVIDEND OF $2.5 BILLION, EQUIVALENT TO 155 US CENTS PER SHARE

* RECONFIRMED OUR 2020 PRODUCTION GUIDANCE ACROSS ALL COMMODITIES

* H1 UNDERLYING EARNINGS $ 4,750 MILLION VERSUS $ 4,932 MILLION

* NET DEBT AS AT H1 END $4,826 MILLION VERSUS NET DEBT OF $3,651 MILLION AS AT DEC 2019 END

* FIRST HALF 2020 SALES WERE IMPACTED BY COVID-19 TRUCKING RESTRICTIONS WITHIN CHINA

* CHINA'S GROWTH PATHWAY COULD IMPACT DEMAND FOR GROUP'S PRODUCTS OUTSIDE OF EXPECTATIONS

* OYU TOLGOI OPEN PIT HAS CONTINUED TO OPERATE UNINTERRUPTED DESPITE COVID-19 AND PROXIMITY TO CHINA

* $2.6 BILLION KOODAIDERI REPLACEMENT IRON ORE MINE PROGRESSING, WITH PRODUCTION RAMP-UP STILL EXPECTED TO OCCUR IN EARLY 2022

* EXPECT TO ACCESS MORE GOLD IN SECOND HALF OF 2020 AT OYU TOLGOI

* ZULTI SOUTH PROJECT AT RICHARDS BAY MINERALS (RBM) IN SOUTH AFRICA REMAINS ON FULL SUSPENSION

* AT KEMANO PROJECT IN KITIMAT, TARGETING A RE-START OF TUNNEL EXCAVATION WORKS IN Q3, WITH COMPLETION NOW EXPECTED IN 2022

* EXPECT TO SEE A PRODUCTION RECOVERY IN SECOND HALF OF 2020 AT KENNECOTT

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