Rio Tinto (NYSE:RIO) reported its weakest half-year profit since 2020, as soft iron prices and weather-related disruptions in Western Australia weighed on results. The top global miner posted a 22% drop in net profit to $4.5 billion for the six months ended June 30, 2025. Underlying earnings declined 16% year-on-year to $4.81 billion, missing analyst expectations of $5.05 billion.
Earnings before interest, tax, depreciation, and amortization (EBITDA) fell 5% to $11.5 billion, while operating cash flow held steady at $6.9 billion. However, free cash flow dropped sharply by 31% to $2.0 billion, reflecting higher capital expenditure. Rio Tinto’s net debt more than doubled to $14.6 billion, primarily due to the $6.7 billion acquisition of Arcadium Lithium, finalized in March.
