Rio Tinto posts first-ever full-year loss
Feb 14, 2013 | 12:23 PM
| Shivani Singh
SINGAPORE Global miner Rio Tinto Plc posted its first-ever full-year loss in 2012 after taking a $14.4-billion impairment charge related to its aluminum business and its coal assets in Mozambique.
"We are deeply disappointed by the $14.36-billion write-downs that we have taken in 2012, primarily in our aluminum and energy businesses, which led to the group recording a net loss of $2.99 billion," chairman Jan du Plessis said in a statement Feb. 14. In contrast, the miner posted net income of $5.83 billion in 2011.
Rio Tintos consolidated sales revenue fell to $50.97 billion in 2012, down 15.8 percent from $60.54 billion in 2011, and its net debt more than doubled to $19.3 billion. ....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.