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By Ambar Warrick
Investing.com -- Anglo Australian miner Rio Tinto Ltd (ASX:RIO) posted a sharp decline in its 2022 profit on Wednesday, hit chiefly by shrinking margins on its iron ore production as weak demand in China dented iron ore prices.
The minerâs profit attributable to shareholders for the year to December 31 fell to $12.42 billion from $21.09B a year ago, the miner said in a statement. Consolidated sales revenue also shrank to $55.55B from $64.49B a year ago.
Rio Tinto declare...
>>> Read more: Rio Tinto 2022 profit sinks as China slowdown stings iron ore margins
Investing.com -- Anglo Australian miner Rio Tinto Ltd (ASX:RIO) posted a sharp decline in its 2022 profit on Wednesday, hit chiefly by shrinking margins on its iron ore production as weak demand in China dented iron ore prices.
The minerâs profit attributable to shareholders for the year to December 31 fell to $12.42 billion from $21.09B a year ago, the miner said in a statement. Consolidated sales revenue also shrank to $55.55B from $64.49B a year ago.
Rio Tinto declare...
>>> Read more: Rio Tinto 2022 profit sinks as China slowdown stings iron ore margins
