PLUNGING iron ore prices are expected to have severely dented mining giant Rio Tinto's earnings last financial year.
THE company reveals its half year financial performance on Thursday, and analysts expect its underlying earnings to have halved from $US5.1 billion in first half of the 2013/14 year.
But the company has been ramping up production of iron ore, and slashing expenditure and costs, which should help to offset to bottom line impact of lower prices.
Investors will be keen to hear the company's views on the year ahead, with the price of iron ore recently improving from its historic lows.
Soirce: News.com