News: RIO Rio Tinto Posts H1 Underlying Earnings Of $4,750 Million

July 29 (Reuters) - Rio Tinto Ltd (RIO) :

• INTERIM ORDINARY DIVIDEND OF $2.5 BILLION
• H1 NET EARNINGS $ 3,316 MILLION VERSUS $4,130 MILLION
• INTERIM DIVIDEND OF $2.5 BILLION, EQUIVALENT TO 155 US CENTS PER SHARE
• RECONFIRMED OUR 2020 PRODUCTION GUIDANCE ACROSS ALL COMMODITIES
• H1 UNDERLYING EARNINGS $ 4,750 MILLION VERSUS $ 4,932 MILLION
• NET DEBT AS AT H1 END $4,826 MILLION VERSUS NET DEBT OF $3,651 MILLION AS AT DEC 2019 END
• FIRST HALF 2020 SALES WERE IMPACTED BY COVID-19 TRUCKING RESTRICTIONS WITHIN CHINA
• CHINA'S GROWTH PATHWAY COULD IMPACT DEMAND FOR GROUP'S PRODUCTS OUTSIDE OF EXPECTATIONS
• OYU TOLGOI OPEN PIT HAS CONTINUED TO OPERATE UNINTERRUPTED DESPITE COVID-19 AND PROXIMITY TO CHINA
• $2.6 BILLION KOODAIDERI REPLACEMENT IRON ORE MINE PROGRESSING, WITH PRODUCTION RAMP-UP STILL EXPECTED TO OCCUR IN EARLY 2022
• EXPECT TO ACCESS MORE GOLD IN SECOND HALF OF 2020 AT OYU TOLGOI
• ZULTI SOUTH PROJECT AT RICHARDS BAY MINERALS (RBM) IN SOUTH AFRICA REMAINS ON FULL SUSPENSION
• AT KEMANO PROJECT IN KITIMAT, TARGETING A RE-START OF TUNNEL EXCAVATION WORKS IN Q3, WITH COMPLETION NOW EXPECTED IN 2022
• EXPECT TO SEE A PRODUCTION RECOVERY IN SECOND HALF OF 2020 AT KENNECOTT

Source text https://bit.ly/334dxyL

(([email protected];))