Rio Tinto posts best underlying earnings since 2014, beats estimates

- Rio Tinto on Wednesday reported its highest annual underlying earnings since 2014, beating market expectations on robust commodity prices, and announced a bumper dividend on divestments and an upbeat iron ore outlook.

Rio, flush with cash from recent sale of its Grasberg copper mine in Indonesia and other non-core assets, declared a final dividend of $1.80 per share and a $4 billion special dividend of $2.43 per share. Iron ore prices have surged after last month’s deadly collapse of a dam operated by Vale SA in Brazil that forced the world’s top iron ore miner to cut production, likely boosting earnings this year for its global rivals.

Fucking up the planet is profitable.

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