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Rio Tinto’s earnings fell last year due to weaker iron ore prices and inflationary pressures, the Anglo-Australian mining group said on Wednesday. The London-listed group, which is a leading iron ore and aluminium producer,

Rio Tinto reported its smallest full-year underlying earnings in five years on Wednesday that also came in below expectations, as lower prices for iron ore outweighed growth in its copper and aluminium businesses.

Underlying earnings totaled $10.87 billion, down 7.6% year over year. Analysts expected underlying earnings of $11 billion

Rio Tinto Ltd (ASX:RIO) has today declared that, despite a weaker iron ore price, its financials for the year ended December 31 were strong. The heavyweight mining company has reported an underlying profit after tax of US$10.