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Rio Tinto reports 12% higher first-half profit on red hot iron ore

Rio Tinto reports 12% higher first-half profit on red hot iron ore
FILE PHOTO: A sign adorns the building where mining company Rio Tinto has their office in Perth, Western Australia, November 19, 2015. REUTERS/David Gray/File Photo -
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David Gray(Reuters)
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(Reuters) – Anglo-Australian miner Rio Tinto <RIO.AX> on Thursday reported a 12% jump in first-half profit and declared a bumper dividend, as red hot iron ore prices helped offset the impact of disruptions caused by a cyclone in late March.

Underlying earnings for the six months ended June 30 rose to $4.93 billion (£4.07 billion) from $4.42 billion a year earlier, the miner said.

Rio declared a 19% higher interim dividend of 151 cents per share. The world’s no.2 miner of iron ore also announced a special dividend of $1.0 billion.

(Reporting by Aditya Soni in Bengaluru; Editing by Shounak Dasgupta)

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