Rio Tinto full-year profit jumps 69 pct; announces $1 bln buyback

Feb 7 (Reuters) - Global miner Rio Tinto said on Wednesday its annual profit rose 69 percent in 2017, boosted by higher prices for commodities such as iron ore and coal, and announced an additional $1 billion share buyback.

Underlying earnings for the 12 months ended Dec. 31 rose to $8.63 billion from $5.10 billion a year earlier, roughly in line with analyst estimates of about $8.74 billion, according to Thomson Reuters I/B/E/S.

Rio Tinto declared a full-year dividend of $2.90 per share, up from $1.70 a share a year ago. (Reporting By Rushil Dutta in Bengaluru; editing by Richard Pullin)