Company News RIO TINTO YEAR
Profit Up 50 Per Cent. (N.Z.P A -Reuter-—Copyright) MELBOURNE. March 21 Group profit of Rio Tinto Mining Company of Australia. Ltd., rose more than 50 per cent.—from £1.759.641 to £2,658.580—in the year to December 31. The rise reflects the record profit earned by Mary Kathleen Uranium. Ltd., 51 per cent, owned by Rio Tinto, and equals 71.7 per cent, on average capital. Total consolidated profit before deducting the minority interests of outside shareholders, rose from £3,635,868 to £5.382,020.
Apart from its majority M.K.U. holding, Rio Tinto has a 75 per cent, interest in the Fitzpatrick group of quarrying companies. The group is also developing sand and gravel activities, has bought a group of New South Wales collieries, plans a £2.000,000 brick plant in Victoria, and has other interests in iron ore exploration in Western Australia.
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Press, Volume CI, Issue 29778, 22 March 1962, Page 17
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140Company News RIO TINTO YEAR Press, Volume CI, Issue 29778, 22 March 1962, Page 17
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