Updated February 07, 2018 17:37:32

Photo: Rio Tinto releases its annual profit for 2017. (ABC News: Kathryn Diss)

Map: Australia

Big miner Rio Tinto has ridden the wave of higher commodity prices for a big surge in annual profit.

Net profit for the 2017 financial year came in at nearly $US8.8 billion ($11 billion), up 90 per cent from 2016.

Payouts to investors total a record $US5.2 billion ($6 billion) for the year.

That's a dividend per share of $US2.90 ($3.60).

More to come.

Topics: business-economics-and-finance, company-news, mining-industry, australia

First posted February 07, 2018 17:15:29