Rio Tinto (RIO.US) announced on Wednesday that its underlying profit f

Published: Feb 22, 2024 08:41

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Rio Tinto (RIO.US) announced on Wednesday that its underlying profit for 2023 dropped by 12% to $11.8 billion, slightly higher than the market expectation of $11.7 billion. Rio Tinto continues to face issues with rising costs. The company stated that due to ongoing labor and parts inflation in Western Australia, it is expected that the unit cost of its Pilbara iron ore will rise in 2024.

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