Peak Gold Has Passed, but Patience is Key for Striking it Rich

by Byron King
Daily Reckoning

Lately, I’ve been watching the iron business, in comparison with what’s happening in gold-silver. Along these lines, I just reviewed semiannual results from one of the world’s largest iron mining firms, Rio Tinto. Rio is a great old name, mostly focused on iron, as well as aluminum, copper and diamonds.

In the first half of 2016, Rio’s net cash was down 27% from comparable months in 2015. But the company’s net earnings were up by 113%. Higher prices for iron ore in the first six months of this year lifted Rio’s profitability, based on a pickup in China’s construction industry.

To keep Rio’s earnings growing, according to company CEO Jean-Sébastien Jacques, the mining giant will continue to clamp down on costs.

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