Rio Tinto Maintains It Will Post Profit Amidst Iron Ore Price Slump

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.

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