AAP reported that Rio Tinto is expected to post a half year profit of over USD 4 billion this week, with strong iron ore sales to overcome predicted losses in other commodities.

Analysts are predicting a massive USD 4.5 billion in earnings from iron ore in the six months to June 30 which will be bigger than its overall profit for the same period.

Losses in its coal and aluminium segments are set to push overall underlying profit down 18% from a year ago to USD 4.2 billion. Rio also faces an unknown amount of one off writedowns that will reduce its bottom line.

Mr Sam Walsh CEO of Rio Tinto took over from Mr Tom Albanese in February on the same day Rio announced USD 14 billion in writedowns on its aluminium and African coal assets, which caused a USD 3 billion annual loss.

The market is not expecting writedowns to be as large this time, but the company must still account for adverse events such as a collapsed wall that damaged a US copper mine a higher tax rate and the loss of a legal dispute with Gina Rinehart over royalties.

Fortunately for Rio, the iron ore spot price was better than expected during the H1 of 2013, averaging above USD 133 per tonne. Rio also shipped a record 119 million tonnes of iron ore during that time. But analysts have forecast losses in the company's coal and aluminium divisions of USD 27 million and USD 44 million respectively.