Mining giant Rio Tinto has posted a decline of 23% in the second half of the year primarily due to fall in the prices of iron ore but on the year-on-year basis it reported an increase of 33% to $5.57 billion.

Company reported an increase in the revenue during the year despite the drastic decline in the commodity prices particularly in the aluminum division. The company underwent massive cost control measures to offset the decline in commodity prices, high energy cost and unfavorable currency fluctuation.

According to Leighton, "The Group's longer term outlook remains solid based on a record level of work in hand, a strong competitive position and a forecast rebound in the Group's core markets from the recent uncertainty of the global financial crisis".

Considering the price recovery factor and government continuous Efforts Company is making plan to make capital expenditure of US$6 billion including US$100 million each at two projects in Quebec and the modernization of the Kitimat smelter in British Columbia.