Rio Tinto set a record financial performance in 2021

A few days ago, Rio Tinto announced its financial results for 2021. Thanks to a recovery in the global economy driven by industrial production activity and a sharp strengthening in product prices, Rio Tinto posted record financial results in 2021, with a full-year net profit of $21.1 billion. The company said it would pay its highest-ever total full-year dividend of 1040 cents per share, including a special dividend of 247 cents per share, with a dividend yield of 79 per cent.

Specifically, the company's revenue in 2021 was $63.49 billion, up 42% from a year earlier, and its profit was $21.1 billion, up 116% from a year earlier.

Shi Daocheng (Jakob Stausholm), chief executive of Rio Tinto Group, said: "despite the challenges posed by the long-term disruption of the COVID-19 epidemic to our production operations, our employees are still safely operating our world-class assets and working hard to improve our operating performance. Industrial production activity has contributed to the recovery of the global economy, leading to a substantial strengthening in the prices of our major products. We were able to seize this opportunity and achieved record financial performance. "

In its financial report, Rio Tinto produced 54 million tons of bauxite, 7.9 million tons of alumina and 3.2 million tons of raw aluminum in 2021. The company produces 494000 tons of mineral copper and 202000 tons of refined copper in 2021. The company plans to produce 3.1 million-3.2 million tons of primary aluminum and 230000-290000 tons of refined copper in 2022.

Rio Tinto said that in October 2021, the company announced a new long-term strategy to accelerate the decarbonization process. Over the next three years, the company will spend about $1.5 billion on decarbonization projects, which are expected to total $7.5 billion between 2022 and 2030. At the same time, the company will focus on prudent investment in commodities with strong demand in the coming decades. The company said that progress had been made in the project: underground operations had begun following a comprehensive agreement on the (Oyu Tolgoi) copper and gold project in Oyu Tolgoi, Mongolia, and we had reached a binding agreement on the acquisition of the Rincon lithium mine in Argentina.

"We will continue to develop and deepen the way we engage and interact with all stakeholders as we are committed to building a strong partnership with our business location. Our actions will ensure that we can continue to provide shareholders with attractive returns, invest in sustainable and growth projects, and make a broader contribution to society, particularly in promoting net zero emissions. " Shi Daocheng (Jakob Stausholm) said.