Good morning, Rio Tinto has cut dividends after its 2024 underlying profit fell, missing consensus forecasts as weaker iron ore prices weighed on the global miner. It comes after Japan’s Mitsui paid $8.4bn for a stake in its leading undeveloped project in the Pilbara, with two West Australian rich-lister families cashing in on the deal. The immediate future of a Rio Tinto-backed Tomago aluminium smelter that underpins the NSW energy market hangs in the balance as 560 workers dig in for a fight over pay. Veteran property investor Greg Goodman has always had astute timing and in tapping investors for $4bn for a data centre spree he's sending two signals about trends at play. |