Giant miners to see record profits slip as cost pressures bite

Miners are likely to report a drop in profits. The top-five western diversified mining companies, including iron-ore giants Rio Tinto Group, Vale SA and BHP Group Ltd, may see combined 2021 second-half earnings of US$73bil (RM305.83bil), according to analysts’ estimates, compared with US$82bil (RM343.54bil) in the first half.

SYDNEY: Investors in the world’s biggest mining companies will this month be watching for signs that mounting cost pressures and the impacts of slowing Chinese growth may further erode record earnings.

Miners are likely to report a drop in profits. The top-five western diversified mining companies, including iron-ore giants Rio Tinto Group, Vale SA and BHP Group Ltd, may see combined 2021 second-half earnings of US$73bil (RM305.83bil), according to analysts’ estimates, compared with US$82bil (RM343.54bil) in the first half.