Australia.s Rio Tinto posts 82% decline in H1 net earnings on iron ore price collapse

摘要

Australia.s Rio Tinto has posted lower financial results in H1 2015 due to a plunge in raw materials prices. Nevertheless,it has not given up plans to raise shipments even despite aggravation of market oversupply expected by the year.s end.Net earnings of the company fell 82%. Underlying earnings decreased 43% over the period under review to $2.9 billion,with $2.1 billion received from mining business. Prices for Australian 62% Fe fines plunged 46% year-on-year. Lossesfrom the price decrease .were partly offset by higher sales volumes together with a weaker Australian dollar, lowerenergy costs and the realisation of significant cost savings initiatives,. the company press release reads.