0941 GMT - Rio Tinto's 2024 results were broadly in line with expectations and the Anglo-Australian mining company provided a steady outlook for the future, energy and materials analyst at Quilter Cheviot Maurizio Carulli writes. It is reassuring to see that group earnings decreased by only 2% despite an 8% fall in iron-ore prices, he writes. While acquisitions pushed net debt up to $5.5 billion in 2024, it remains at comfortable level, he says. The miner boasts a solid portfolio of assets and the significant barriers to entry in iron ore and copper strengthen Rio Tinto's market position, he writes. Rio Tinto's London listed shares rise 0.75% to 5,074.00 pence.(adam.whittaker@wsj.com)
(END) Dow Jones Newswires
February 20, 2025 04:41 ET (09:41 GMT)
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