Rio Interim Profit Tipped to Exceed $US8b

The Sydney Morning Herald reports Rio Tinto (ASX:RIO) is expected to post a first-half net profit of more than $US8 billion, driven by bumper iron ore prices.

The market news is quoted as saying,

The cash cow iron ore division is expected to contribute nearly 80 per cent of the net profit, lifting its performance by more than 50 per cent a year ago to about $US6.2 billion, according to analysts’ consensus.

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