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Rio Tinto Maintains It Will Post Profit Amidst Iron Ore Price Slump
Dec. 01, 2014 03:04PM PST
Base Metals Investing Rio Tinto maintains that it will still make large profits even as the price of iron ore hits five-year lows.
Rio Tinto maintains that it will still make large profits even as the price of iron ore hits five-year lows.
According to Reuters:
To do so, Rio Tinto will have to break the shackles of the strong correlation of its share price to that of Asian spot iron ore.
Since the 2008 recession the Australian-listed shares of the world’s second-biggest iron ore miner have moved pretty much in lockstep with the price of the steel-making ingredient, although this year the correlation has shown signs of breaking down.