News: RIO Rio Tinto Posts HY Underlying Earnings Of $5.8 Bln

July 31 (Reuters) - Rio Tinto Ltd (RIO) :

• HY UNDERLYING EARNINGS $5.8 BILLION
• HY CONSOLIDATED SALES REVENUE $26,802 MILLION
• INTERIM ORDINARY DIVIDEND OF 177 US CENTS PER SHARE
• NET DEBT AS AT HY END $5,077 MILLION
• IN 2024, 2025 AND 2026 WE EXPECT SHARE OF CAPITAL INVESTMENT TO BE UP TO $10.0 BILLION PER YEAR
• RIO TINTO HY NET EARNINGS $5.8 BILLION
• IN 2024, WE EXPECT OUR ONGOING EXPLORATION AND EVALUATION EXPENSE (EXCLUDING SIMANDOU) TO BE AROUND $1.0 BILLION
• IN COMING YEARS, WE EXPECT TO SPEND (ON A CASH BASIS) AROUND $1 BILLION PER YEAR ON CLOSURE ACTIVITIES
• OUR OVERALL COPPER EQUIVALENT PRODUCTION IS ON TRACK TO GROW BY AROUND 2% THIS YEAR
• EFFECTIVE TAX RATE ON UNDERLYING EARNINGS IS EXPECTED TO BE AROUND 30% IN 2024.
• AT 30 JUNE 2024, PROVISIONS FOR CLOSE-DOWN AND RESTORATION COSTS AND ENVIRONMENTAL CLEAN-UP OBLIGATIONS WERE $15.9 BILLION
• BOARD EXPECTS TOTAL CASH RETURNS TO SHAREHOLDERS OVER THE LONGER TERM TO BE IN A RANGE OF 40% TO 60% OF UNDERLYING EARNINGS
• EXPECT TO ENTER NEGOTIATIONS ON A NEW COLLECTIVE LABOUR AGREEMENT IN THE SECOND HALF OF THE YEAR FOR OYU TOLGOI
• GROUP FY BAUXITE PRODUCTION GUIDANCE IS EXPECTED TO BE AROUND TOP END OF OUR 53 TO 56 MILLION TONNE RANGE

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