Rio Profit Beats Estimates on Cuts to Combat Iron-Ore Slump

Rio Profit Beats Estimates on Cuts to Combat Iron-Ore Slump
Chief Executive Officer of Rio Tinto Group Sam Walsh predicted in February would be a "tough year" for the industry.
Photographer: Simon Dawson/Bloomberg

Rio Tinto Group reported first-half profit that was better than expected as the world’s second-biggest mining company stripped out costs and reined in spending to combat lower iron-ore prices amid a slowdown in China.

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