Rio Tinto reported a 22% fall in first-half profit and pared its interim dividend, as weaker iron-ore prices weighed on the mining giant’s earnings.The world’s second-biggest miner by market value said Wednesday that it made a net profit of $4.

Rio Tinto logged its smallest first-half underlying profit in five years and announced its lowest interim dividend in seven years on Wednesday due to falling iron ore prices, as it flagged rising costs at its Pilbara sites.

Rio Tinto (ASX:RIO) shares declined on Thursday after the mining giant reported its weakest first-half underlying profit since 2020. The worlds largest iron ore producer said earnings were hit by falling iron ore