RIO TINTO
POSTS FIRST LOSS, PAYS NO MINING TAX. Rio Tinto has posted its first loss under
its current corporate structure after recently writing $US14.4 billion off the
value of some of its assets.
The world's third biggest mining company reported a $US3
billion loss for 2012, down from a $US5.8 billion profit the year before.
However, the loss was due to $US14.4 billion worth of write-downs in the value
of its aluminium and coal businesses.
Excluding
those one-off write-downs, Rio recorded underlying earnings of $US9.3 billion,
which is down 40 per cent on last year's underlying result, but slightly ahead
of average analyst expectations which centred on a result around $US9.1
billion.








