A massive write-down to Rio Tinto's aluminium business has taken the shine off the mining giant's earnings.
The company this evening reported an annual net income of $US5.8 billion after a one-time $US8.9 billion writedown of its aluminium business.
Rio Tinto chief executive Tom Albanese said he won’t be considered for an annual bonus this year after the company posted a 59 per cent decline in net income.
‘‘As the acquisition of Alcan happened on my watch, I felt it only right not to be considered for an annual bonus,’’ Mr Albanese said in the company’s earnings statement.
Shareholders will get a dividend of $US1.45 per share.
Mr Albanese will shortly address investors and media.
The result comes a day after BHP Billiton revealed first half profits of $US9.94 billion.
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