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Business Description: Rio Tinto Limited (RIO) is one of the world's largest international mining groups, involved in every stage of metal and mineral production. Rio Tinto comprises five principal product groups - Aluminium, Copper, Diamonds & Minerals, Energy and Iron Ore - plus two support groups: Technology & Innovation and Exploration.
Strategy Analysis:
Rio Tinto reported NPAT up 29.8% to US$7.59bn for the half-year ended 30 June 2011. Revenues from ordinary activities were US$29.06bn, up 18.4% from the same period last year. Diluted EPS was 386.7 US cents compared to 297.0 US cents last year. Net operating cash flow was US$8.66bn compared to US$7.18bn last year. The interim dividend declared was 54 US cents compared with 45 US cents last year. The effect of price movements on all major commodities in 2011 first half was to increase underlying earnings by $4,997m compared with 2010 first half. Prices improved for nearly all of the company's major commodities: copper prices were up 31%, molybdenum prices were up 13%, gold prices were up 26% and aluminium prices were 20% higher than 2010 first half.
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