Rio Tinto has marked strong third quarter production across its portfolio, achieving a record output of bauxite, strong strides made in copper and iron ore, and a major milestone at its Simandou project in Guinea.
Copper equivalent production increased nine per cent year-on-year, supported by gains across copper, aluminium and bauxite.
Total copper production reached 204,000 tonnes, up 10 per cent from the same quarter in 2024, with ramp-ups from the Oyu Tolgoi mine in Mongolia putting it back on track to achieve a result at the higher end of full-year guidance.
These numbers come after the company introduced a new operating model and a refreshed executive team to “simplify business” and boost shareholder value, with the new structure focusing on iron ore, aluminium and lithium and copper.
Rio Tinto chief executive Simon Trott said that the company continues to strengthen performance from its assets, setting “back-to-back quarterly production records” at its bauxite business and the Oyu Tolgoi site.
“Oyu Tolgoi is where the underground ramp-up remains on track to boost copper output by more than 50 per cent, and we are also focused on delivering a strong finish to the year from the Pilbara site,” Trott said.
“Our growth projects are also progressing at pace, at Simandou, we started loading first ore at the mine for movement down the rail and to the port in October.”
Pilbara iron ore shipments climbed six per cent quarter-on-quarter to 84.3 million tonnes, the second-highest third quarter since 2019; this comes are iron ore prices rebounded to a seven-month high of $US108 dry metric tonnes.
Trott said the $6.2 billion Simandou project marked the start of commissioning for the mine-to-rail-to-port system following the loading of its first ore; initial shipments are expected in November, with the ramp-up to full 60-million-tonne-per-year capacity over the next 30 months.
The company also upgraded its full-year bauxite guidance from 57-59 million tonnes to 59-61 million tonnes following record output at the Amrun bauxite project in Cape York, Queensland.
At the same time, aluminium production rose six per cent year-on-year to 857,000 tonnes.
“We are on track to meet production guidance for 2025, with an upwards revision to bauxite this quarter, and are well positioned to deliver compelling mid-term production growth,” Trott said.
“We will continue to deliver further shareholder value through operational excellence, simplification and discipline on performance and capital investment.”