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Rio Tinto Posts Smaller-than-Forecast Profit Decline, Signals Caution on Full Year

Mining group Rio Tinto (RIO) posted a 47% drop in first-half underlying earnings on Wednesday and advised caution for the second half amid an uneven rebound in commodity prices.

The Anglo-Australian company said underlying earnings - management's preferred measure of profitability - fell to $1.56 billion from $2.92 billion. The decline put profitability at a 12-year low but left earnings higher than the $1.46 billion consensus expectation. The company cut capital...


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