First half 2017 highlights
- Generated operating cash flow of $6.3 billion, EBITDA1 of $9.0 billion and EBITDA margin2 of 45 per cent.
- Delivered underlying earnings of $3.9 billion and net earnings of $3.3 billion.
- Achieved $2.1 billion of pre-tax sustainable operating cash cost improvements3 in 2016 and 2017 first half, meeting the target six months ahead of schedule.
- Strengthening the portfolio with all three growth projects on track and a $2.7 billion disposal announced in 2017 first half.
- Reduced net debt by $2.0 billion to $7.6 billion, with gross debt4 lowered by $2.5 billion.
Returning cash to shareholders of $3.0 billion with respect to 2017 first half:
- Declared interim dividend of 110 US cents per share, equivalent to $2.0 billion.
- An increased share buy-back of $1.0 billion in Rio Tinto plc shares by the end of 2017.
- In total represents 75 per cent of 2017 first half underlying earnings.