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Rio Tinto posts lower net profit for 2022 amid higher energy and raw material prices

Thursday, 23 February 2023 10:59:52 (GMT+3)   |   Istanbul
       

Australia-based miner Rio Tinto has announced its financial results for 2022.

The company posted a net profit of $12.42 billion for the year, due to the impact of higher energy and raw material prices, and higher rates of inflation, compared to $21.09 billion in the previous year. In 2022, the company’s consolidated sales revenues decreased by 12.5 percent to $55.55 billion compared to 2021. The company’s underlying EBITDA in the given period totaled $26.27 billion, decreasing by 30.3 percent year on year.

In the given year, Rio Tinto’s Scope 1 and 2 emissions were 30.3 million mt, down by seven percent compared to 2018. The company aims to reduce its Scope 1 and 2 emissions by 15 percent by 2025 and 50 percent by 2030.

Rio Tinto’s Pilbara iron ore shipment guidance for 2023 is in the range of 320-335 million mt.


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