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Business Description: Rio Tinto Limited (RIO) is one of the world's largest international mining groups, involved in every stage of metal and mineral production. Rio Tinto comprises five principal product groups - Aluminium, Copper, Diamonds & Minerals, Energy and Iron Ore - plus two support groups: Technology & Innovation and Exploration.
Strategy Analysis: RIO's aim is to invest in and operate large, long term, cost competitive mines and businesses. The Group concentrates on the discovery of Tier 1 orebodies and the development of Group assets into large scale, long life and low cost operations to ensure the Group can operate profitably at every stage of the commodity cycle.
Rio Tinto provided its results for the year ended 31 December 2012, reporting that 2012 underlying financial results reflect record iron ore production and shipments and a second half recovery in copper volumes. This was in the context of lower average market prices in 2012 which reduced underlying earnings by $5.3bn compared with 2011: underlying earnings of $9.3bn; a net loss of $3.0bn after impairments of $14.4bn, primarily relating to aluminium businesses as well as coal assets in Mozambique; and a 15% increase in the full year dividend to 167 cents per share.
The Age 18/05/2013 |
As Australia's major retailers increase their online sales channels, pouring millions into their websites, they could face new competition from China's booming e-commerce industry.
The Age 18/05/2013 |
Most of those who take a political approach to the budget assume that if it's in deficit, the way you get it back to surplus is to cut government spending or, if you're a really bad person, increase taxes. They forget it's the budget itself that's supposed to do the heavy lifting.
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