Anglo-Australian mining giant Rio Tinto has reported its profits have been hit by falling metals and minerals prices in the global economic downturn.Its profits for the first six months of 2009 fell to $2.66bn, down 63.7% from $7.33bn a years ago.
Rio Tinto sold shares to its existing shareholders earlier in the year and said as a result it had reduced its debt of $39.1bn by $14.8bn.
Rio had already announced that it would not paying a half year dividend, but that it would pay a full year dividend if its result were good enough.
As part of its cost-cutting programme, the company announced it had cut 16,000 in the first half of the year, which was ahead of its target of 14,000. Rio Tino has also been selling parts of its business, especially units of the U.S. aluminium company Alcan, which it bought in 2007.
It made $3.7bn of divestments in the first half of the year and has since announced an agreement to sell the Alcan Packging business for $2.025bn.
Chief executive Mr. Albanese said:
"Despite difficult markets, our business are running smoothly."
He added that the company was on track to meet the cost-cutting commitments it had made in December.
One of the big factors in Rio's profitability is the ongoing talks with Chinese steel mills about how much they are prepared to pay for iron ore. It has offered a 33% price cut, but has said it is not prepared to sell at the slightly lower price set by Australia's Fortescue Metals Groups. But Rio's chairman Jan du Plessis said the firm remained "cautious about the recent rally in prices".
There is a degree of tension in the negotiations, because four of its staff have been arrested in Shanghia on suspicion of offering bribes.
第一個和第二個Rio Tinto是兩個不同的連結, 第二個連結有提到Rio Tinto在今年售出它的包裝業務的相關新聞。至於Australia's Fortescue Mwtals Groups是與它競爭的對手。
>>>我掛了。



