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Rio banks $2.2 billion

MAJOR mining house Rio Tinto has posted record US$2.2 billion earnings, buoyed by strong commodit...

Rebecca Keenan

The result was a 61% improvement on 2003s achievement. A pit slippage at the Grasberg operation in 2003 cost Rio US$230 million via decreased production in 2004. The company claimed $30 million on insurance...

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