Australia-based mining company Rio Tinto posted record earnings of US$21.4 billion (RM90 billion) last year, amid surging iron ore prices and strong demand from China.
The company’s earnings climbed +72% from 2020. Earnings reached the highest levels in its 149-year history.
China contributed more than 57 per cent of Rio’s sales for the year. Sales to China rose from US$26 billion to US$36 billion year-on-year.
While announcing a record dividend to shareholders, Rio Tinto chief executive Jakob Stausholm indicated a major tailwind in the form of “significant price strength” for the company’s major commodities.