Sydney - Anglo-Australian miner Rio Tinto Ltd posted a first-half net profit of 2.9 billion Australian dollars Thursday.

The figure was 65 per cent down on the equivalent period last year, reflecting the cost of servicing its massive debts and the collapse in commodity prices.

Chief executive Tom Albanese said 16,000 jobs had been cut in the first half of 2009.

"Whenever anyone has to go through redundancies it's a difficult thing," he said. "There's not only the personal question involved, but you've also got to deal with the loss of capabilities." (dpa)