Rio Tinto reported a 43% rise in first-half underlying earnings to $6.9 billion. This figure represents the company's highest earnings in four years. Net profit increased 47% to reach $6.7 billion.
Strong commodity prices and increased output drove the financial growth. Copper equivalent production grew by 3%. Pilbara operations achieved their highest first-half iron ore production since 2018.
Free cash flow surged 75% to $3.8 billion. The company declared an interim dividend of $3.4 billion, or $2.11 per share. This payout represents a 43% increase from the previous year.
Chief Executive Simon Trott credited the performance to accelerating productivity benefits. These gains are on track to deliver an annualized run-rate of $1.8 billion by year-end.