The mining company has now adapted the technology for its Bundoora Research laboratories in Melbourne, where it has been tested on Rio Tinto mineral projects for the past two years.
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The company declared an interim dividend of US$1.075 a share, up 12% from a year earlier and in line with analysts’ expectations.
Rio Tinto said the fall in commodity prices in the first half of 2015 decreased its earnings before exceptional items by USD3.62 billion compared to a year earlier.
$6.0 billion in 2016.
Cost-cutting initiatives continued to progress, with the miner raising its target for annual cost-cutting to $US1 billion, from $US750 million previously.
In July, Rio said its iron ore production expansion strategy is continuing to deliver high-margin growth that reinforces its position as a low-cost producer.
Rackspace Hosting, Inc. (NYSE:RAX) percentage change diminish -2.77% to close at $34.03 with the total traded volume of 1.97 million shares more than average volume of 1.50 million.
The analysts expect mining fundamentals to continue to deteriorate into the second half as demand conditions worsen, supply in some key commodities accelerates and dividends come under pressure. It is sticking to its guidance of about $US7 billion for 2017.
– Underlying earnings per share of 159.1 US cents.
Earnings from iron ore were down 49% to $US4.09 billion.
Rio shares often rise in the weeks before Rio pays its dividend. Many Australian investors have been critical of the policy, saying it is a poor fit for a resources company and restricts the miner from making counter-cyclical acquisitions or investments.
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Rio’s Hunter Valley coal business is unofficially on the block and Glencore and Mick Davis’s X2 have been sniffing around.The miner is understood to want at least book value, which is about $US3 billion, for the News South Wales business.
