Rio Tinto beats earnings forecast but costs rise

Rio Tinto, the mining and resources giant, has managed to beat market expectations on earnings but admits price pressures are a problem.

Rio Tinto, the mining and resources giant, has managed to beat market expectations on earnings but admits price pressures are a problem.

Underlying earnings for the first six months of the year were $5.2bn against a consensus forecast of $4.9bn. The figure is still 34% down on 2011, reflecting a drop in prices for almost all the substances that Rio Tinto mines, except gold.

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