Mining major Rio Tinto logs 43% rise in interim profit

Tue, July 28, 2026 at 10:51 PM UTC

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July 29 (Reuters) - Rio Tinto posted its highest half-year profit in four years on Wednesday, helped by strong performance of its copper business and higher production across its key commodities.

The world's largest iron ore producer reported underlying earnings of $6.85 billion for the six months ended June 30, compared with $4.81 billion a year earlier. That compared with a Visible Alpha consensus of $6.80 billion.

Underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) surged 84% to $5.7 billion for its copper division, driven party by higher output from its Mongolian operations.

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Underlying EBITDA at Rio Tinto's iron ore business eased 1% to $6.8 billion in the first half.

The mining major declared an interim dividend of $2.11 per share, as compared to $1.48 per share declared last year.

(Reporting by Roshan Thomas and Sneha Kumar in Bengaluru; Editing by Sriraj Kalluvila)

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Source: “AOL Money”