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2/26, 7:17 AM (Source: TeleTrader)
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Rio Tinto posts underlying EBITDA at $21.2B

One of the world's largest metals and mining corporations Rio Tinto published its full-year results for 2019 on Wednesday, posting an underlying EBITDA of $21.2 billion, mostly driven by higher iron ore prices, which is a 17% increase compared to the previous year.

Rio Tinto's underlying earnings per share stood at $6.36, rising 24% on an annual basis. On the other hand, the company reported a significant 41% decline in net earnings for the same period, which reached $8,01 million, as Oyu Tolgoi underground project and the Yarwun alumina refinery suffered due to last year's impairments.

"Our world-class portfolio and strong balance sheet serve us well in all market conditions, and are particularly valuable in the current volatile environment. We are closely monitoring the impact of the COVID-19 virus and are prepared for some short-term impacts, such as supply-chain issues. Our products are currently reaching our customers," commented Rio Tinto's CEO Jean-Sebastien Jacques.

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