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Rio Tinto and other mining giants have been battling rampant inflation and staff shortages. Image: Rio Tinto
Anglo-Australian mining giant Rio Tinto (RIO.L) reported a 28% decline in profits as it battles falling commodity prices and rising costs, in the latest sign that the mining boom era is nearing an end.
Shares in the FTSE 100 (^FTSE) company tumbled almost 5% following the announcement, down 2.9% in London.
Underlying profits at the worldâs biggest iron ore producer came in at $8.6...
>>> Read more: FTSE 100: Rio Tinto shares slide as mining bonanza fizzles
Anglo-Australian mining giant Rio Tinto (RIO.L) reported a 28% decline in profits as it battles falling commodity prices and rising costs, in the latest sign that the mining boom era is nearing an end.
Shares in the FTSE 100 (^FTSE) company tumbled almost 5% following the announcement, down 2.9% in London.
Underlying profits at the worldâs biggest iron ore producer came in at $8.6...
>>> Read more: FTSE 100: Rio Tinto shares slide as mining bonanza fizzles
