LONDON, Feb 22 (Reuters) - Rio Tinto (RIO.AX), (RIO.L) more than halved its dividend on Wednesday after posting a 38% drop in annual profit, hurt by weaker iron ore prices as demand from China slowed, higher labour and material costs.
The Anglo-Australian miner joins other diversified mining companies in reporting lower earnings and shareholder payouts from the record levels reported in 2022, after disruptions lowered output and costs rose for energy, skilled labour, explosives and equipment.
