In 2012, the pure loss of Rio Tinto reached $ 3 billion

According to the results of 2012, the net loss of the third largest mining company in the world of Rio Tinto amounted to $ 2.99 billion, while in 2011 the company showed a net profit of $ 5.826 billion. This is stated in the company's report.

Such a negative indicator is due to the fact that the write -offs of the Rio Tinto last year amounted to $ 14.4 billion, which were primarily associated with aluminum business, as well as coal assets in Mozambique.

At the same time, the key department of the company - iron ore - also showed a reduction in profit by 30.3%, to $ 9.242 billion. In general, Rio Tinto gross income decreased by 15.8%, to $ 50.967 billion, EBITDA - by 32.2%, to $ 19.411 billion.

The report shows the words of the new CEO of Sam Walsha. In particular, he called his three main tasks: reduction of costs, selling “weak” assets and “neat” purchases. Recall that Sam Walsh took the post of CEO Rio Tinto only in January 2013, when, due to huge debits, he resigned his previous general director Tom Albanes.

As previously reported, Rio Tinto planned to reduce costs by $ 5 billion by 2014. This mainly applies to aluminum and coal departments, which are the main cost generators. First of all, the company wants to sell Pacific Aluminium, which includes Australian and New Zealand assets.

Among the key areas of development, the company called the acceleration of the construction rate of the first stage of expansion of the Pilbara mine to 290 million tons. It is planned that the project will be completed in the 3rd quarter of 2013. The second stage of expansion up to 360 million tons should be completed in 1 half of 2015.

The company also expects to start commercial booty on the Mongolian Copper-gold mine Oyu Tolgoi at the end of June 2013. In general, the Rio Tinto investment program for 2013 is estimated at $ 13 billion.