Australia’s Rio Tinto posts lower net profit in H1 2022

Australia-based mining company Rio Tinto announced its financial results for the first half of this year. The company achieved a net profit of $9.41 billion in the first half of this year, compared to $13.06 billion in the same period the previous year, as the company’s consolidated sales revenue decreased by 10% in the first half of this year to reach $29.77 billion compared to the first half of last year.

The company’s total EBITDA was $15.59 billion, down by 25.8 per cent year-over-year.

Rio Tinto Pilbara’s iron ore shipments for 2022 remained at 320-335 million tons, depending on weather and market conditions.

Meanwhile, the company delivered its first iron ore from the Godai Dare Mine in Western Australia’s Pilbara region in June this year, SteelOrbis previously reported.

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Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

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