Rio's remarkable turnaround in aluminium

Livewire Equities


Rio's remarkable turnaround in aluminium. Lots of remarkable things and figures in Rio Tinto's 2013 results. The $US10.2 billion profit comfortably beat market consensus, as did the annual dividend of $US1.92 a share. Then there was the stunning operating cost reductions, as chief executive Sam Walsh crooned from a soggy London. But more remarkable than anything else was the turnaround in the aluminium business. It has been the runt of the litter ever since Rio plonked down $US38 billion in its ill-timed acquisition of Canadian group Alcan in 2007. A good read from Barry Fitzgerald on the RIO results (VIEW LINK)

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