Rio Tinto reports changes in Ore Reserves

Company News

by Rachael Jones

Rio Tinto’s (ASX:RIO) annual report released today shows an operating cash generation of $US 13.9 billion and a reduced net debt of $US3.8 billion.

The report shows a record full year dividend of $US5.2 billion and an additional $1 billion share buy-back.

This brings the total cash returns to share holders to $9.7 billion for 2017.

An additional buy-back of $US 1 billion in Rio Tinto plc shares are set to be completed by the end of 2018.

A generated operating cash flow of $US13.9 billion, underlying EBITDA of $18.6 billion and a ten year record margin of 44 per cent.

The report shows significant changes in estimates of Ore Reserves and Mineral Resources across a number of their sites for the rest of the year.

Meanwhile, the company is set to invest growth in Silvergrass, Amrun and Oy Tolgoi projects.

Rio Tinto (ASX:RIO) are trading 1.19 per cent lower at $76.92.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.