Rio Tinto leans on copper as Pilbara steadies after earlier storms
Diversified miner Rio Tinto reported robust production results for 2025, highlighted by an 8% year-on-year increase in copper-equivalent output. The strong performance was driven by the company’s copper, bauxite, and lithium operations, complemented by a resurgent Pilbara iron ore system.
CEO Simon Trott said the miner’s performance reflected the depth of its operating discipline and project delivery capability across the portfolio, with record production achieved in several commodities despite a year marked by extreme weather disruptions early on.
“Our operations delivered exceptional production performance, both on a quarter-on-quarter and full-year basis,” Trott said, pointing to record quarterly iron-ore output in the Pilbara, first shipment milestones at Simandou in Guinea and sustained gains from the ramp-up of the Oyu Tolgoi underground mine in Mongolia.
Copper was a standout, with consolidated production rising 11% year-on-year to 883 000 t, exceeding the top end of Rio Tinto’s upgraded guidance range. The result was driven by the successful ramp-up at Oyu Tolgoi, where the underground development project has now been completed, marking a major inflection point for the group’s copper growth strategy.
The strength of copper, combined with higher bauxite output and growing lithium volumes, lifted copper-equivalent production by 8% year-on-year in 2025, while shipments rose 5%.
Rio Tinto said the results reinforced its positioning for a more copper-intensive future, as demand linked to electrification and decarbonisation continues to build.
In iron-ore, the Pilbara operations delivered a sharp recovery from cyclone-related disruptions earlier in the year. Fourth-quarter production reached a record run rate of about 360-million tonnes a year, supported by favourable weather and continued investment in mine health and productivity.
Full-year Pilbara mine production reached 327.3-million tonnes on a 100% basis, broadly stable year-on-year, while shipments of 326.2-million tonnes were only 1% lower, despite the loss of about 13-million tonnes to cyclone impacts in the first quarter. Strong second-half shipping allowed the system to claw back nine-million tonnes of those losses. The guidance for 2025 was 323-million to 338-million tonnes.
The group also highlighted efforts to unlock additional value from existing infrastructure, including an agreement with its Hope Downs joint venture partner to access an additional 400-million tonnes of resource, and ongoing discussions with BHP to mine up to 200-million tonnes of iron ore across the neighbouring Yandicoogina and Yandi operations.
Away from Australia, Rio Tinto marked a milestone at the Simandou iron-ore project, celebrating first shipment from the port during the fourth quarter. The company described the achievement as further evidence of its ability to deliver complex, large-scale growth projects.
Bauxite production rose 6% year-on-year to a record 62.4-million tonnes, highlighting what the group described as a “step change” in operational performance as assets mature. Aluminium and alumina production also increased, with aluminium output tracking toward the upper end of guidance.
In lithium, Rio Tinto achieved record quarterly production from its operating assets in Argentina, as well as planned growth from in-flight projects, as it continues to build what it describes as a high-quality, disciplined lithium portfolio.
Trott said the results reflected the ongoing implementation of Rio Tinto’s “stronger, sharper, simpler” operating model, which he said was translating into tangible performance and value creation.
