Rio Tinto RTNTF

Rio Tinto is navigating a complex financial landscape marked by significant developments and strategic pivots. The company recently reported a sharp decline in half-year profit, with underlying earnings dropping to $8.6 billion, which has led to a substantial cut in dividends. Despite this, it secured a major investment from Aluminum Corp. of China, amounting to $14 billion, while making strides in finalizing a landmark deal for access to the Simandou iron ore mine. On a more positive note, Rio Tinto has seen growth in copper production and a recent milestone of shipping its 8 billionth tonne of iron ore. The company's strategic focus now includes a pivot towards renewable energy projects and battery materials, alongside efforts to resolve operational challenges and improve market performance.