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Press Release

Record growth in earnings, investment and dividend

01 February 2007

  • Underlying earnings of $7,338 million were 48 per cent above 2005.
  • Net earnings were $7,438 million, 43 per cent above 2005.
  • Cashflow from operations rose 36 per cent to $11,196 million.
  • The full year ordinary dividend increased 30 per cent to 104 US cents.
  • Record production volumes in several product groups, including iron ore, alumina, US coal and molybdenum.
  • Capital expenditure was $3.9 billion, reflecting continuing investment in growth based on a quality portfolio of assets.
  • Capital projects continued to progress well, with the major expansion of the Group's iron ore business on schedule and on budget.
  • Approval for the expansion of annual capacity at the Cape Lambert port in the Pilbara region of Western Australia from 55 million tonnes to 80 million tonnes at a capital cost of $860 million is announced today.
  • The return of $4 billion cash to shareholders over 2006 and 2007 was completed almost a year ahead of schedule. In October 2006, an additional $3 billion share buy back was announced.
  • Rio Tinto's pipeline of growth opportunities was enhanced during the year through targeted investment, including a joint venture for exploration in Russia and investment in a copper-gold project in Mongolia.
  • Tom Albanese appointed as new chief executive to succeed Leigh Clifford in May 2007.

Record growth in earnings, investment and dividend [PDF: 341 KB]



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