REG - Rio Tinto - Drilling/Production Report
21/04/2026 07:00
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RNS Number : 2104B Rio Tinto PLC 21 April 2026
Rio Tinto releases first quarter 2026 production results
21 April 2026
9% YoY CuEq(1) growth from our three value-generating, world-leading
businesses
Rio Tinto Chief Executive Simon Trott said: "Safety is the foundation of our
business. The tragic loss of two colleagues this year, at Simandou and
Kennecott, is a stark reminder that we must ensure everyone goes home safely
at the end of every shift.
"Operating excellence drove 9% YoY copper equivalent(1) production growth
across our portfolio as the Oyu Tolgoi copper mine continues to ramp up as
planned and our integrated aluminium business, again, delivered a strong
performance. Our Pilbara iron ore mines performed strongly, while shipments
were impacted by two cyclones in the quarter. We achieved the historic land
exchange at Resolution Copper, with our project team focused on unlocking the
next phase of one of the world's largest untapped copper deposits.
"The unmatchable mix and scale of our portfolio has ensured growth and supply
chain resilience against changing operating conditions as we continue to
closely monitor the evolving situation in the Middle East. Our stronger,
sharper, simpler way of working is enabling us to move at pace to achieve
productivity benefits across the business. The first $650m of annualised
benefits is now fully implemented, as promised, with substantially more
underway."
1. Executive Summary
• Operational excellence: 9% YoY increase in copper equivalent
(CuEq)(1) production.
• Copper: Production rose 9% YoY, supported by the continued
successful ramp-up of Oyu Tolgoi. Drilling at Resolution is now underway
following completion of the land exchange in March.
• Iron ore: Second highest Q1 Pilbara production since 2018, up 13%
YoY, with sales up 2% YoY. Tropical cyclones impacted Pilbara shipments by
approximately 8 Mt, with around half expected to be recovered. The first full
SimFer shipment of high-grade Simandou product was successfully delivered to
China with first sales realised in April.
• Aluminium: Strength and agility again demonstrated across our
integrated value chain, offsetting weather-related disruptions in bauxite.
• Lithium: Fenix 1B and Sal de Vida achieved mechanical completion
as planned, with first production on track for H2 2026.
Production and sales(2) Q1 2026 vs Q1 2025 2026 guidance(10) Guidance status
Global iron ore production(3) (100% basis) Mt(9) 82.8 +12 % NA NA
Pilbara iron ore production (100% basis) Mt(9) 78.8 +13 % NA NA
Global iron ore sales(4) (100% basis) Mt(9) 75.7 +2 % 343 - 366 Unchanged
Pilbara iron ore sales(5) (100% basis) Mt(9) 72.4 +2 % 323 - 338 Unchanged
Bauxite production Mt 13.3 -11 % 58 - 61 Unchanged
Alumina production(6) Mt 2.0 +6 % 7.6 - 8.0 Unchanged
Aluminium production(7) Mt 0.84 +1 % 3.25 - 3.45 Unchanged
Lithium carbonate equivalent (LCE) production(8) kt 12.7 NA 61 - 64 Unchanged
Copper production (consolidated basis) kt 229 +9 % 800 - 870 Unchanged
(1) Copper equivalent (CuEq) volume = Rio Tinto's share of production volume /
Volume conversion factor x Product price ($/t) / Copper price ($/t). Prices
are based on long-term consensus prices. (2) Rio Tinto share unless otherwise
stated. (3) Iron Ore production for Pilbara operations and Iron Ore Company of
Canada (IOC) refers to saleable production (after crushing, screening and
beneficiation). For Simandou, it represents crushed ore at the SimFer mine
gate before train loading: final (tertiary) crushing of Simandou ore takes
place in China. (4) Includes all shipments from Pilbara and IOC, including
those to our Portside trading business; excludes shipments from our Portside
trading business. It also includes Simandou sales, representing ore which has
been through tertiary crushing in China and collected by the customer. There
is a ~2-3 month lag between mine gate production and sales; this accounts for
time for railing of ore to the port in Guinea, shipping to China, tertiary
crushing in China and collection of final product by the customer. 2026 sales
guidance (100% basis) is 15-18 Mt for IOC and 5-10 Mt for Simandou. (5)
Pilbara iron ore guidance remains subject to the timing of approvals for
planned mining areas and heritage clearances. (6) QAL production now included
on a 100% basis. (7) Includes primary aluminium only. (8) Q1 2025 LCE
production from Arcadium was 17.2kt (20.0kt on a 100% basis) of which 5.6kt
was produced since completion of the acquisition in March (6.5kt on a 100%
basis), lithium carbonate equivalent shipments from Arcadium was 12.1kt
(15.2kt on a 100% basis) of which 3.8kt was shipped since completion of the
acquisition in March 2025 (5.0kt on a 100% basis). Production from Rincon
starter plant is now included in Q1 2026. (9) Wet metric tonnes. (10) See
further notes in Section 2, 2026 guidance.
Safety
Safety remains our highest priority. We are sharpening our focus on safety at
every level, simplifying and strengthening our standards to concentrate on
what matters most, reinforced by discipline in compliance. Central to this is
a renewed focus on critical risk management - ensuring that the controls
designed to prevent fatalities are clearly understood, consistently applied
and personally owned by leaders.
Following the tragic fatalities at Simandou and Kennecott during the quarter,
both operations were immediately shut down and progressively restarted once
conditions allowed. At the Kennecott underground project, a staged restart
commenced from 16 April.
2. Guidance
Production/sales guidance
• 2026 production/sales guidance is unchanged.(1)
Unit cost guidance
• 2026 unit cost guidance is unchanged.
2026 Guidance
Pilbara iron ore unit cash costs, free on board (FOB) basis - US$ per wet 23.5 - 25.0(2)
metric tonne
Australian dollar exchange rate 0.67
Copper C1 net unit costs (Kennecott, Oyu Tolgoi and Escondida) - US cents per 65 - 75
lb
3. Group update
Expenditure on exploration and evaluation
• Pre-tax and pre-divestment expenditure on exploration and evaluation
charged to the Income Statement in Q1 2026 was $180 million which included
expenditure associated with the land exchange at Resolution, compared with
$141 million in 2025. Approximately 53% of the spend was by Copper product
group, 29% by central exploration, 17% by Iron Ore product group and 1% by
Aluminium & Lithium product group.
Productivity benefits
• By March, as planned, we had implemented the initiatives that are
contributing $650m of annualised benefits. These include operational
improvements, right sizing central functions and a streamlining of
organisational expenses and non-operational initiatives. We are now pursuing
further significant improvements focused on throughput, operating costs and
central costs to deliver additional benefits over the coming years, beyond the
$650m already in place.
Middle East conflict
• To date: on the supply-side, the direct impacts on our operations
have been limited, while our commodity prices have responded favourably. Our
scale, global reach and sophisticated supply chains provide a resilient
foundation and have enabled the business to operate normally.
◦ Global businesses: Aluminium - the strength of our vertically
integrated value chain, with our business advantageously positioned across the
Americas, Asia Pacific and Europe, has ensured security of supply to our
customers. Iron Ore, Copper, Lithium - operations remained largely unaffected,
with no material disruption to supply chains.
◦ Diesel: we consume ~1.6bn litres of diesel annually, around
two‑thirds in the Pilbara. Despite higher diesel prices steepening the cost
curve, our cost position is resilient, underpinned by scale and global
supply‑chain leverage.
◦ Other business inputs (such as jet fuel, caustic soda and others):
prices rose, however, there was no disruption to our business. On sulphuric
acid, we are a net long producer globally via our Kennecott smelter.
• We continue to monitor the evolving global impact closely and have
contingency plans in place. However, we have relatively limited visibility of
how the ongoing conflict will affect supply chains in H2.
(1) Guidance remains subject to weather impacts. (2) Pilbara iron ore: subject
to the impact of higher diesel prices and foreign exchange. From May, each
$10/bbl movement in oil prices (including refining margins) is estimated to
impact Pilbara unit costs by approximately $0.15/t, subject to exchange rates
and broader inflationary pressures arising from higher diesel prices.
4. Our markets
Global economy: whilst there was good momentum in Q1, with US manufacturing
activity accelerating and strong Chinese industrial production and exports,
the outbreak of conflict in the Middle East has led to some uncertainty.
Chinese economy: real GDP growth accelerated from 4.5% YoY in Q4 2025 to 5% in
Q1 2026, supported by strength in industrial production and exports. China's
high reliance on coal and renewables, as well as substantial oil stockpiles,
limited the impact of higher global energy prices on the Chinese economy.
US economy: continues to benefit from a major AI capex boom, benefiting demand
for future-facing commodities, and supportive fiscal policy. Manufacturing
surveys continue to signal firm growth, with the S&P and ISM Manufacturing
PMIs over 52 in March.
Iron ore
• China's Q1 crude steel and pig iron production declined by -1%
compared to the prior year. Ex-China, steel output was on a trajectory of
gradual recovery (up 1% YoY during January and February), before being
disrupted by events in the Middle East.
• China's steel exports declined by 10% YoY in Q1, in part due to a
new licensing regime which came into effect on 1 January. Steel trade-flows
began to be redirected due to the Middle East conflict, given the region's
significant imports and exports.
• On seaborne iron ore supply, multiple cyclones disrupted
Australian operations while heavy rainfall in Brazil slowed production and
shipments. The major producers' aggregate shipments declined by -17% QoQ and
were flat YoY.
• Higher energy costs are resulting in a lifting of the global iron
ore cost curve, particularly for higher cost suppliers whose cost base is
typically more sensitive to the diesel price.
Copper
• London Metal Exchange (LME) copper prices climbed to a record high
of $6.28/lb in late January supported by a weaker US dollar, positive
sentiment around AI-driven electricity demand and market expectations of
limited supply growth in 2026.
• LME copper retreated to $5.52/lb by quarter end amidst a broader
market sell-off in response to the war in the Middle East but recovered to
$6.00/lb by mid-April. Although the war has had limited direct impact on
copper supply or demand, some copper leaching operations in Africa and the
Americas face disrupted supply of sulphuric acid.
• The US continues to import more copper cathode than is required to
meet demand. This is despite the Chicago Mercantile Exchange (CME) price now
trading at close to parity with the LME price, as markets await clarity on a
potential future refined copper import tariff.
• The copper concentrate market remained extremely tight in Q1, with
spot treatment and refining charges ending he quarter at a record low of
-$95/t.
Aluminium
• The Middle East conflict has removed significant ex-China
aluminium supply, with smelter curtailments resulting in expectations of an
enhanced global deficit in 2026.
• Logistics and bauxite supply disruptions (Strait of Hormuz, war
risk insurance) lifted seaborne freight costs and China bauxite CIF prices
towards the end of the quarter. In addition, prices were supported on higher
Guinean export control uncertainty.
• The LME price rallied in Q1 reaching nearly four-year highs in
March, driven by supply disruption in the Middle East which accounts for 23%
of ex-China production. Visible aluminium inventories tightened outside China
as demand held broadly stable. Spot market premiums rallied in Japan and
Europe; the US Midwest duty paid premium ended the quarter at a record high of
$2,523/t.
• Australian FOB alumina price remained subdued in Q1 due to weaker
Middle East alumina demand and higher output in Indonesia and China. Alumina
stocks remained elevated in China.
Lithium
• Lithium carbonate prices continued to rally in Q1, driven by
growing expectations of market tightness in 2026 amid strong demand for
Battery Energy Storage Systems (BESS), policy-related mine curtailments in
China and export restrictions in Zimbabwe.
• Global EV sales were down 8% YoY YTD February following a pullback
in policy support in China and the US.
Index prices Start of Q1 End of Q1 % change Start - End Q1 Q4 2025 average Q1 2026 average % change QoQ
(02/01/26) (31/03/26)
Iron ore ($/dmt CFR China)(1,2) 106 108 +2 % 103 104 - %
Copper (LME spot, c/lb) 570 552 (3) % 503 583 +16 %
Aluminium (LME spot, $/t) 2,986 3,585 +20 % 2,827 3,199 +13 %
Lithium carbonate (spot, $/t CIF China, Japan & Korea)(3) 14,500 21,000 +45 % 10,534 19,427 +84 %
(1) Monthly average Platts (CFR) index for 61% iron fines from 1 January 2026.
(2) Monthly average Platts (CFR) index for 62% iron fines in 2025, is adjusted
to 61% Fe equivalent by deducting the Platts published 61/62% Fe Transitional
Basis Spread.
(3) Fastmarkets index for Lithium carbonate min 99.5% Li(2)CO(3) battery
grade.
( )
5. Iron Ore
Pilbara operations
Rio Tinto share of production (Wet million tonnes) Q1 vs Q1
2025
2026
Pilbara Blend and SP10 Lump(1) 22.3 +15 %
Pilbara Blend and SP10 Fines(1) 31.5 +13 %
Robe Valley Lump 1.5 0 %
Robe Valley Fines 2.1 +4 %
Yandicoogina Fines (HIY) 10.4 +11 %
Total Pilbara production 67.8 +13 %
Total Pilbara production (100% basis) 78.8 +13 %
Rio Tinto share of sales (Wet million tonnes) Q1 vs Q1
2025
2026
Pilbara Blend Lump 15.0 +53 %
Pilbara Blend Fines 27.8 +48 %
Robe Valley Lump 1.2 +1 %
Robe Valley Fines 2.3 +2 %
Yandicoogina Fines (HIY) 8.5 -9 %
SP10 Lump(1) 2.7 -66 %
SP10 Fines(1) 3.7 -67 %
Total Pilbara sales(2) 61.2 +1 %
Total Pilbara sales (100% basis)(2) 72.4 +2 %
Total Pilbara sales (consolidated basis)(2, 3) 63.0 +1 %
Production figures are sometimes more precise than the rounded numbers shown,
hence small rounding differences may appear.
(1) SP10 includes other lower grade products.
(2) Sales includes material shipped from the Pilbara to our portside trading
facility in China which may not be sold onwards by the group in the same
period.
(3) While Rio Tinto has a 53% net beneficial interest in Robe River Iron
Associates, it recognises 65% of the assets, liabilities, sales revenues and
expenses in its accounts (as 30% is held through a 60% owned subsidiary and
35% is held through a 100% owned subsidiary). The consolidated basis sales
reported here include Robe River Iron Associates on a 65% basis to enable
comparison with revenue reported in the financial statements.
• Q1 production: Second highest Q1 since 2018 and up 13% YoY, driven
by continued investment in mine health and productivity, and fewer weather
impacts.
• Q1 sales: Up 2% YoY, driven by strong mine performance. Tropical
Cyclones Mitchell (February) and Narelle (March) impacted shipments by
approximately 8 Mt, with effects extending into early Q2. Around half of
weather losses are expected to be recovered. SP10 represented 12% of total
sales, in line with Q4 2025.
• Q1 sales: 8% of sales priced by reference to the prior quarter's
average index lagged by one month, remainder sold either on current quarter
average, month average or on the spot market.
◦ 25% of sales were made on a free on board (FOB) basis, with
remainder sold including freight.
• Q1 portside sales in China: 2.6 Mt (8.6 Mt in Q1 2025)
◦ 100% of our portside sales were either screened or blended in
Chinese ports.
◦ End-March inventory levels at portside were 6.6 Mt, including 3.2 Mt
of Pilbara product.
( )
Iron Ore Company of Canada (IOC)
Production and sales (Wet million tonnes) Q1 vs Q1
2025
2026
Pellets and concentrate production (Rio Tinto Share) 2.0 -13 %
Pellets and concentrate production (100%) 3.4 -13 %
Pellets and concentrate sales(1) (100%) 3.3 -3 %
(1) Sales includes material shipped from IOC to our portside trading facility
in China which may not be sold onwards by the group in the same period.
• Q1 production: Down 13% YoY, due to adverse weather and ongoing
challenges with mine and asset health. In particular, mine equipment
reliability, while improving, is a critical focus.
• Q1 sales: Down 3% YoY due to lower concentrator feed.
Simandou
Production and sales (Wet million tonnes) (1, 2) Q1 vs Q1
2025
2026
Fines production( ) (Rio Tinto share) 0.3 NA
Fines production( ) (100%) 0.6 NA
Fines sales (100%) 0.0 NA
(1) Simandou production represents crushed ore at the SimFer mine gate before
train loading.
(2) Simandou sales will represent ore which has been through tertiary crushing
in China and collected by the customer. There is a ~2-3 month lag between mine
gate production and sales; this accounts for time for railing of ore to the
port in Guinea, shipping to China and tertiary crushing in China, and
collection of final product by the customer.
(3) 2.3 Mt (100% SimFer) of crushed iron ore (1 Mt, Rio Tinto share) was
produced in 2025 and was recorded for the first time in Q4 2025.
• Q1 production: Following the tragic fatality, mine operations were
progressively resumed over one month. Ore continues to be crushed utilising
temporary crushing facilities, with first ore expected through permanent
crushing facilities in H2 2026. As at the end of Q1, 2.1Mt (100%) of crushed
ore has been stockpiled at the mine gate ready for loading.
• Q1 sales: 0.6 Mt (100%) was shipped to China during the quarter.
First sales have been realised in April.
6. Aluminium & Lithium
Aluminium
Rio Tinto share of production ('000 tonnes) Q1 vs Q1
2025
2026
Bauxite 13,281 -11 %
Bauxite third party shipments 9,018 -8 %
Alumina(1) 2,038 +6 %
Aluminium 835 +1 %
Recycled aluminium 61 -8 %
(1) As stated in Q1 2025, following sanction measures by the Australian
Government, Rio Tinto has taken on 100% of capacity of Queensland Alumina
Limited (QAL). With the end of the QAL participation agreement at the end of
December 2024, QAL and Rio Tinto have entered into a new two-year tolling
agreement for 100% of the capacity, effectively making QAL a tolling entity
exclusively for Rio Tinto. This additional output is excluded from the
production tables in 2025; however, for 2026, we have now included QAL on a
100% basis.
Bauxite
• Q1: Production was mainly affected by significant weather
disruption at Weipa in January and February (record rainfall for the past
decade), followed by shutdowns at Weipa and Gove in March due to Cyclone
Narelle (0.9 Mt production impact). Despite these impacts, production guidance
remains unchanged.
Alumina
• Q1: Strong performance, with QAL now included at 100% (from 80% in
2025), partly offset by weather-related disruption across the Pacific
refineries.
Aluminium
• Q1: Production remained resilient, despite planned ramp-down at
Arvida, demonstrating underlying portfolio improvement.
◦ Kitimat: Continued ramp-up following improved hydrological
conditions and power supply which resulted in improved operational
performance.
◦ NZAS: Production rates remain high following full ramp-up in Q4
2025.
◦ Arvida: One potline successfully closed in March, with the two
remaining potlines to close by year-end as AP60 ramps up following first hot
metal in March.
• At Boyne Smelters Limited (BSL), we secured a landmark A$2 billion
joint funding package from the Queensland and Australian Governments,
alongside new renewable power arrangements, to extend operations to at least
2040.
Tariffs
• Q1: All produced metal was shipped, with sales pricing, product
mix, and shipping destinations flexed to optimise outcomes in a changing
market environment. Total tariff costs decreased in Q1, primarily reflecting
lower total shipments to the US (273 kt vs 303 kt in Q4), including both
tariff‑impacted and exempt products.
H1 2025 H2 2025 Q4 2025 Q1 2026
Total RTA shipments - US destination, kt(1) 723 630 303 273
Total RTA tariff cost, $m 321 709 416 362
Average mid-west premium duty paid(2), $/tonne 855 1,731 1,899 2,294
Average realised tariff costs - US destination, $/tonne 444 1,126 1,371 1,327
(1) Including both tariff impacted and exempt products.
(2) Mid-west premium duty paid applies to approximately 40% of our total
volumes.
Recycled aluminium
• Q1: Recycled aluminium production was relatively stable QoQ.
Production remained below Q1 2025, reflecting changes made in the downstream
operating footprint from Q2 2025.
( )
Lithium
Rio Tinto share of production ('000 tonnes) Q1 Q1
2026 2025(2)
Lithium carbonate 12.4 NA
Lithium hydroxide 5.5 NA
Spodumene - NA
Other specialities (LCE) 0.8 NA
Total lithium carbonate equivalent (LCE) production(1,2) 12.7 NA
(1) The lithium value chain is vertically integrated and as a result
production volumes are not additive. Lithium Carbonate Equivalent (LCE) is
derived from volumes of lithium carbonate, lithium chloride, and spodumene
concentrate. These compounds are used as feedstock in downstream production.
(2) 2025 first quarter lithium carbonate equivalent production from Arcadium
was 17.2kt (20.0kt on a 100% basis) of which 5.6kt was produced since
completion of the acquisition in March (6.5kt on a 100% basis), lithium
carbonate equivalent shipments from Arcadium was 12.1kt (15.2kt on a 100%
basis) of which 3.8kt was shipped since completion of the acquisition in March
2025 (5.0kt on a 100% basis). Rincon production is now included in Q1 2026.
(• ) Q1: Lithium carbonate equivalent (LCE) production
was lower YoY, primarily reflecting that Mt Cattlin was in operation in Q1
2025 (now in care and maintenance since end of March 2025).
◦ Olaroz: Impacted by early-year heavy rainfall along with
subsequent low evaporation rates.
◦ Fenix: Affected by weather but to a lesser extent than in Q1 2025.
◦ Rincón starter plant: Continued to ramp up and delivered higher
output versus the previous quarter, partially offsetting weather‑related
disruptions.
( )
( )
7. Copper
Rio Tinto production(1) ('000 tonnes) Q1 vs Q1
2026
2025
Copper
Kennecott - Refined metal(2) 34 -20 %
Escondida - Metal in concentrates 77 -14 %
Escondida - Refined metal 16 +21 %
Oyu Tolgoi - Metal in concentrates 102 +56 %
Total copper production (consolidated basis(1)) 229 +9 %
(1) Includes Oyu Tolgoi and Kennecott on a 100% consolidated basis, and
Escondida on an equity share basis.
(2) We continue to process third party concentrate to optimise smelter
utilisation, including 7 thousand tonnes of cathode produced from purchased
concentrate in Q1 2026. Purchased and tolled copper concentrates are excluded
from reported production figures and guidance. Sales of cathodes produced from
purchased concentrate are included in reported revenues.
Kennecott
• Q1: Lower cathode production due to low anode inventory impacted
by unplanned maintenance at the smelter. Lower concentrator throughput from
geotechnical constraints partially offset by slightly higher recoveries.
• YoY: Lower cathode production due to low anode inventory, which
was impacted by unplanned maintenance at the smelter. Higher concentrator
throughput combined with higher grades partially offset by lower recovery
rates.
Escondida
• Q1: Lower production driven by planned lower copper grades in line
with mine sequencing and lower throughput, partially offset by improved Full
Sal(1) cathode production.
• YoY: Lower production driven mainly by planned lower ore grades in
line with mine sequence, partially mitigated by higher throughput, better
recoveries and increased cathode output.
Oyu Tolgoi
• Q1: Slightly lower production due to planned shutdown leading to
lower ore milled, partly offset by modestly higher combined headgrade and
recovery rates.
• YoY: Increased contribution from underground material supported by
the conveyor to surface, combined with higher grades from the open pit and
underground. The full commissioning of the concentrator conversion (including
ball mill 5) and optimised blending of open pit ores lifted copper and gold
recoveries by 6 and 8 percentage points, respectively, YoY.
• Production ramp-up remains on track to reach an average of around
500 thousand tonnes of copper per year (100% basis and stated as recoverable
metal) from 2028 to 2036(2), inclusive of ongoing sustaining capital
expenditure associated with ramp-up activities.
• Our engagement with the Government continued, including for the
Entrée licence transfer. We continue to maintain flexibility and options in
the mine plan, including bringing Panel 1 or Panel 2 South into production
first, depending on the timing of the licence transfer.
(1) Full SaL is a processing technology that allows the extraction of copper
using chlorine-assisted leaching predominantly for sulphidic material. (2) The
~500 thousand tonnes per annum copper production target (stated as recoverable
metal) for the Oyu Tolgoi underground and open pit mines for the years 2028 to
2036 was previously reported in a release to the ASX dated 11 July 2023
"Investor site visit to Oyu Tolgoi copper mine, Mongolia
(https://www.riotinto.com/en/invest/presentations/2023/oyu-tolgoi-site-visit)
". All material assumptions underpinning that production target and those
production profiles continue to apply and have not materially changed.
8. Borates, TiO(2) and diamonds
Rio Tinto share of production ('000 tonnes) Q1 vs Q1
2025
2026
Borates - B(2)O(3) content 128 +9 %
Titanium dioxide slag - TiO(2) 218 -2 %
Rio Tinto share of production ('000 carats) Q1 vs Q1
2025
2026
Diamonds 1,041 +11 %
We are advancing our strategic reviews and are now actively testing the market
for our Borates business and evaluating our options for Rio Tinto Iron &
Titanium.
Borates
• Q1: Achieved solid production supported by strong market
conditions.
Iron & Titanium
• Q1: Aligned production to market demand. We continue to operate
six (of nine) furnaces in Quebec and three (of four) furnaces at Richards Bay
Minerals.
9. Capital Projects
Project Total Status/Milestones
capital cost
(100% unless
otherwise stated)
Iron ore
Project: Brockman (Brockman Syncline 1) $1.8bn • Bulk earthworks progressed, with critical path items advancing and
key areas handed over to the structural/mechanical construction contractor.
• First production remains on track for 2027.
Location: WA, Australia
Ownership: 100%
Capacity: 34 Mtpa
Approval: March 2025
Planned first production: 2027
To note: The project is to extend the life of the Brockman regions in WA.
Project: Hope Downs 2 (incl. Bedded Hilltop) $0.8bn • Achieved first ore from Hope Downs 2 in February 2026 via road
train, ahead of schedule.
(Rio Tinto share)
• Main construction activities continue to progress in line with
Location: WA, Australia plan, including clearing and installation of tunnel segments over the rail
line.
Ownership: Rio Tinto (50%) and Hancock Prospecting (50%)
• First production from haulage remains on track for 2027.
Capacity: 31 Mtpa
Approval: June 2025
Planned first production: 2027
To note: The project is to extend the life of the Hope Downs 1 operation in
WA.
Project: West Angelas Sustaining $0.4bn • Construction activities progressed in line with schedule.
(Rio Tinto share) • First production remains on track for 2027.
Location: WA, Australia
Ownership: Rio Tinto (53%), Mitsui Iron Ore (33%) and Nippon Steel (14%)
Capacity: 35 Mtpa
Approval: October 2025
Planned first production: 2027
To note: The project is to extend the life of the West Angelas hub in WA.
Project Total Status/Milestones
capital cost
(100% unless
otherwise stated)
Iron ore
Project: Simandou $6.2bn • Ore continues being railed from the SimFer mine to the main rail
line via the SimFer rail spur and shipped through the WCS port while
Location: Guinea, Africa (Rio Tinto construction of the SimFer port is finalised. Commissioning of common rail
infrastructure completed in Q1 2026, and we expect a 30 month ramp-up to full
SimFer mine ownership: SimFer (85%), Government of Guinea (GoG) (15%) share) production rates during H2 2028.
SimFer mine capacity: 60 Mtpa(1) (27 Mtpa RT share) • Non-managed infrastructure - our partners confirm that
construction is progressing well and is on track.
Approval: July 2024
• SimFer mine(5) is progressing to plan, with 74% completed - bulk
Start date: first shipment in December 2025 earthworks and permanent process facilities construction continue. First ore
is expected through the permanent crushing facilities in H2 2026, on schedule
To note: Investment in the Simandou high-grade iron ore project in Guinea in and aligned with plan. Ore continues to be crushed and stockpiled through the
partnership with CIOH, a Chinalco-led consortium (the SimFer joint venture) temporary crushers.
and co-development of the rail and port infrastructure with Winning Consortium
Simandou(2) (WCS), Baowu and the Republic of Guinea (the partners) for the • SimFer rail spur is mechanically complete and in operation. Full
export of up to 120 Mtpa of iron ore mined by SimFer's and WCS's respective rail commissioning was achieved in Q1 2026.
mining concessions.(3) The SimFer joint venture(4) will develop, own and
operate a 60 Mtpa(1) mine in blocks 3 & 4. WCS will construct the • SimFer port continues to advance ahead of plan, with 78% completed
project's ~536 kilometre shared dual track main line, a 16 kilometre spur - fabrication of the transhipment vessels (TSV) is continuing with first TSV
connecting its mine to the mainline as well as the WCS barge port, while fit out works commenced. Three port ship loaders have arrived and been
SimFer will construct the ~70 kilometre spur line, connecting its mining unloaded at the SimFer port. SimFer port commissioning is expected in Q1 2027.
concession to the main rail line, and the transhipment vessel (TSV) port.
• Workforce across all the SimFer scope of mine, rail and port is
20,700 with 77% Guinean participation.
Aluminium
Project: Low-carbon AP60 aluminium smelter $1.5bn • Construction activities progressed to be over 93% complete.
Location: Quebec, Canada • Energisation of the first substations successfully completed with
the first hot metal milestone achieved in early March as planned.
Ownership: Rio Tinto (100%)
• Gross project costs have increased slightly by $122m to ~$1.5bn
Capacity: Project will add 96 new AP60 pots, increasing AP60 capacity by (previously ~$1.3bn) primarily due to challenges in construction productivity.
160,000 tonnes of primary aluminium per annum
Approval: June 2023
Start date: First hot metal and commissioning achieved in March 2026, smelter
fully ramped up by end of 2026.
To note: The investment includes up to $113 million of financial support from
the Quebec government. This new capacity is expected to be in addition to
30,000 tonnes of new recycling capacity at Arvida, which has been rescheduled
to open in Q4 2026.
Lithium
Project: Rincon expansion $2.5bn • Starter plant: commissioning completed in 2025, with ramp-up
activities continuing to progress toward full capacity by the end of 2026.
Location: Salta province, Argentina
• Construction of full scale plant continues on schedule across key
Ownership: Rio Tinto (100%) areas, including earthworks, camp expansion, concrete works, and installation
of the 33kV power line.
Capacity: 60ktpa (battery grade lithium carbonate)
Approval: December 2024
Planned first production: 2028 with three-year ramp-up to full capacity
To note: Project consists of the 3ktpa starter plant and 57ktpa expansion
program. The mine is expected to have a 40-year(5) life and operate in the
first quartile of the cost curve.
Project Total Status/Milestones
capital cost
(100% unless
otherwise stated)
Lithium
Project: Fenix expansion (1B) $0.7bn • Project is mechanically complete.
• First production remains on track for H2 2026.
Location: Catamarca province, Argentina
Ownership: Rio Tinto (100%)
Capacity: 10ktpa LCE (battery grade lithium carbonate)
Planned first production: H2 2026
To note: product is carbonate, chloride
Project: Sal de Vida $0.7bn • The project achieved mechanical completion and full commissioning
in February 2026.
Location: Catamarca province, Argentina
• First commercial production remains on track for H2 2026.
Ownership: Rio Tinto (100%)
Capacity: 15ktpa LCE
Planned first production: H2 2026
To note: product is carbonate
Project: Nemaska Lithium $1.1bn • Bécancour hydroxide plant: following the respective equity
investments made by Rio Tinto and the Government of Québec since March 2025,
(Rio Tinto share) Rio Tinto became the majority shareholder in Nemaska Lithium and assumed
direct management responsibilities.
Location: Quebec, Canada
• Rio Tinto completed an in-depth review of the Bécancour project,
Ownership: Following the respective equity investments made by Rio Tinto and working closely with the Nemaska Lithium team, and decided to slow the pace of
the Government of Québec, through Investissement Québec, in Nemaska Lithium construction during 2026. This will allow the combined project teams to
since March 2025, Rio Tinto now holds a 53.9% stake in Nemaska Lithium, while complete the optimisation work required to strengthen the execution plan and
the Government of Québec holds 46.1% of the company. support the project's long term success.
Capacity: 28ktpa LCE (100%) • Some activities at the Bécancour site will continue during the
optimisation period, while others will be paused or deferred, with a temporary
Planned first production: 2028 reduction in contractor workforce levels.
To note: product is integrated lithium hydroxide. • Construction is expected to ramp up again once the optimisation
work is completed, and no major changes to the project's overall timeline are
anticipated.
• Rio Tinto remains committed to the Bécancour project. Engineering
for the Bécancour facility has been completed and construction is now more
than 70% advanced.
• Whabouchi and Galaxy mines: we are undertaking a strategic
business and capital discipline review with our partners in Canada to decide
which of the two mines we will develop. We expect to make a decision in H1
2026, to ensure an integrated solution for spodumene supply to Bécancour is
available by 2028.
Copper
Project: Kennecott open pit extension $1.8bn • Stripping will continue through 2027 with sustainable ore
production from the second phase of the pushback expected to be reached in H2
Location: Utah, United States 2027.
Ownership: Rio Tinto (100%)
Approval: 2019
To note: The project scope includes mine stripping activities and some
infrastructure development, including tailings facility expansion. The project
will allow mining to continue into a new area of the orebody between 2026 and
2032.
Project Total Status/Milestones
capital cost
(100% unless
otherwise stated)
Project: Kennecott North Rim Skarn (NRS) underground development(6) $0.6bn • The ramp-up in the quarter was as planned until the tragic
fatality on 12 March, following which underground mining was suspended with a
staged restart commencing from 16 April.
Location: Utah, United States
Ownership: Rio Tinto (100%)
Capacity: around 250 kt through to 2033(7) Approval: June 2023
First production: Achieved Q4 2025
To note: Original approval for $0.5bn with a further $0.1bn approved in
December 2024 for additional infrastructure and geotechnical controls.
Iron and Titanium
Project: Zulti South $0.35bn • Approval received in March for a $473m (100% basis) investment to
extend mine life through to 2050.
Location: Richards Bay, South Africa (Rio Tinto share)
• China Harbour Engineering Company (CHEC) has been appointed as the
Ownership: Rio Tinto (74%), Blue Horizon Investments (24%) and Employee Share EPC contractor for the construction of Zulti South.
Participation Trust (ESPS) (2%)
• Early works construction activities expected to commence in Q2
Capacity: Extend mine life to 2050 2026.
Approval: March 2026
Planned first production: Q4 2028
To note: Construction commenced in H1 2026 and will take 30 months to be
completed with initial commercial production expected in Q4 2028. This first
phase will support RBM's supply of zircon and ilmenite, while the second phase
will follow as part of the long-term development strategy.
1. The estimated annualised capacity of approximately 60 million dry
tonnes per annum iron ore for the Simandou life of mine schedule was
previously reported in a release to the Australian Securities Exchange (ASX)
dated 6 December 2023 titled "Investor Seminar 2023". Rio Tinto confirms that
all material assumptions underpinning that production target continue to apply
and have not materially changed.
2. WCS is the holder of Simandou North Blocks 1 & 2 (with the
Government of Guinea holding a 15% interest in the mining vehicle and WCS
holding 85%) and associated infrastructure. WCS was originally held by WCS
Holdings, a consortium of Singaporean company, Winning International Group
(50%) and Weiqiao Aluminium (part of the China Hongqiao Group) (50%). On 19
June 2024, Baowu Resources completed the acquisition of a 49% share of WCS
mine and infrastructure projects with WCS Holdings holding the remaining 51%.
In the case of the mine, Baowu also has an option to increase to 51% during
operations. During construction, SimFer will hold 34% of the shares in the WCS
infrastructure entities with WCS holding the remaining 66%.
3. WCS holds the mining concession for Blocks 1 & 2, while SimFer
holds the mining concession for Blocks 3 & 4. SimFer and WCS will
independently develop their mines.
4. SimFer Jersey Limited is a joint venture between the Rio Tinto Group
(53%) and Chalco Iron Ore Holdings Ltd (CIOH) (47%), a Chinalco-led joint
venture of leading Chinese SOEs (Chinalco (75%), Baowu (20%), China Rail
Construction Corporation (2.5%) and China Harbour Engineering Company (2.5%)).
SimFer S.A. is the holder of the mining concession covering Simandou Blocks 3
& 4, and is owned by the Guinean State (15%) and SimFer Jersey Limited
(85%). SimFer Infraco Guinée S.A. will deliver SimFer's scope of the
co-developed rail and port infrastructure, and is co-owned by SimFer Jersey
(85%) and the Guinean State (15%). SimFer Jersey will ultimately own 42.5% of
La Compagnie du Transguinéen, which will own and operate the co-developed
infrastructure during operations.
5. The production target of approximately 53 kt of battery grade lithium
carbonate per year for a period of 40 years was previously reported in a
release to the ASX dated 4 December 2024 titled "Rincon Project Mineral
Resources and Ore Reserves: Table 1". Rio Tinto confirms that all material
assumptions underpinning that production target continue to apply and have not
materially changed. Plans are in place to build for a capacity of 60 kt of
battery grade lithium carbonate per year with debottlenecking and improvement
programs scheduled to unlock this additional throughput. Capacity of 60ktpa is
comprised of 3ktpa starter plant, 50ktpa full scale plant and 7ktpa additional
optimisation.
6. The NRS Mineral Resources and Ore Reserves, together with the Lower
Commercial Skarn (LCS) Mineral Resources and Ore Reserves, form the
Underground Skarns Mineral Resources and Ore Reserves.
7. The 250 thousand tonne copper production target for the Kennecott
underground mines over the years 2023 to 2033 was previously reported in a
release to the Australian Securities Exchange (ASX) dated 20 June 2023 "Rio
Tinto invests to strengthen copper supply in US". All material assumptions
underpinning that production target continue to apply and have not materially
changed.
10. Future Projects
Project Status
Iron Ore: Pilbara brownfields
Location: WA, Australia • The four major replacement mines are currently ramping up or under
construction.
Ownership: Rio Tinto (100%)
• The Greater Nammuldi replacement project has been optimised as a
Capacity: over the medium term, our Pilbara system capacity remains between low-cost mine extension.
345 and 360 million tonnes per year. Meeting this range, and the planned
product mix, will require the approval and delivery of the next tranche of • Medium-term guidance of 345-360Mt per year remains unchanged.
replacement mines.
Iron Ore: Rhodes Ridge
Location: WA, Australia • The feasibility study remains on track to be completed in 2029
subject to relevant approvals.
Ownership: Rio Tinto (50%), Mitsui & Co. (40%), AMB Holdings Pty Ltd
(10%)(1)
Capacity: 40 to 50 Mtpa
First ore: end of decade
To note: The Rhodes Ridge Joint Venture has approved a feasibility study to
progress development of the first phase of the Rhodes Ridge project. The
feasibility study will assess development of an operation with initial annual
production capacity of 40 to 50 Mtpa, and has commenced in Q1 2026, as
planned, and expected to conclude in 2029. The development will use Rio
Tinto's rail, port and power infrastructure.
Following completion of the pre-feasibility study and with the environmental
referral planned, we aim to progress toward reporting an initial Ore Reserve
for Rhodes Ridge in 2026, contingent on continued review of all relevant
modifying factors.
Aluminium: Arctial partnership
Location: Finland • Arctial JV was formally established in Q2 2025 and a
pre-feasibility study and environmental impact assessment study were conducted
during the remainder of 2025.
To note: Partnership agreement with the Swedish investment company Vargas, • The JV partners have reviewed the outcome of the pre-feasibility
Mitsubishi Corporation and other international and local industry partners to study during Q1 2026 and are currently planning the next phase of work for
study a low carbon aluminium greenfield opportunity in Finland. As the further development of the project.
strategic industrial partner, Rio Tinto will provide the Arctial partnership
with access to its proven industry-leading AP60 technology and assist in what
would be the first AP60 deployment in an aluminium smelter outside Quebec,
Canada.
Lithium
Location: Argentina • Developing the blueprint in 2026 for two future hubs, targeting
$30/kg capital intensity with a 30-month timeline for development and
<$5/kg C1 operating costs.
Location: Atacama region, Chile • Expected agreement closure now within 2026 (for both Maricunga and
Altoandinos), subject to receipt of all applicable regulatory approvals and
satisfaction of other customary closing conditions.
To note:
• Binding agreement to form a joint venture (JV) with Codelco to
develop and operate the high-grade Salar de Maricunga project.
• Binding agreement with ENAMI to form a JV to develop the
Salares Altoandinos project.
Project Status
Copper: Resolution
Location: Arizona, US • The congressionally mandated land exchange between Resolution
Copper and the federal government is now complete, following a 13 March
decision by the U.S. Court of Appeals for the Ninth Circuit. The court ruled
in favour of Resolution Copper and the federal government, denying the
Ownership: Rio Tinto (55%), BHP (45%) plaintiffs' request to stop the exchange.
To note: proposed underground copper mine in the Copper Triangle, in Arizona. • The project has now exchanged more than 5,400 acres of
environmentally and culturally sensitive land for inclusion in National
Forests and National Conservation Areas, and in return, has received over
2,400 acres of land adjacent to the historic Magma copper mine.
• Resolution Copper is planning to invest approximately $500m (Rio
Tinto share $275m) over two years to support enabling works including surface
drilling to collect additional resource information, funding to support Native
American Tribes and local communities, as well as costs associated with the
land exchange. The funds will also deliver upgrades to existing project
infrastructure and initial underground development activities as well as
approximately 100 new jobs.
• Drilling is now underway to confirm grade and distribution of the
resource that is now accessible with completion of the land exchange.
Copper: Winu
Location: WA, Australia • Advancing the feasibility study with an initial processing
capacity development of up to 10Mtpa. The feasibility study is expected to be
completed by the end of 2026.
Ownership: Rio Tinto (70%), Sumitomo Metal Mining (SMM) (30%) • Collaborative engagement with the Western Australia EPA is ongoing
to finalise the Environmental Review Document for publication.
To note: In late 2017, we discovered copper-gold mineralisation at the Winu
project (Paterson Province in Western Australia). In 2021, we reported our • The project remains focused on finalising agreements with both the
first Indicated Mineral Resource. The pathway remains subject to regulatory Nyangumarta and Martu Traditional Owner Groups by mid-2026.
and other required approvals. Project Agreement negotiations with Nyangumarta
and the Martu Traditional Owner Groups remain our priority.
Copper: La Granja
Location: Cajamarca, Peru • Evaluation of drill results is underway. An updated technical
report on Resources is expected to be filed in the first half of 2026.
• Progressing the feasibility study.
Ownership: Rio Tinto (45%), First Quantum Minerals (55%)
To note: In August 2023, we completed a transaction to form a joint venture
with First Quantum Minerals (FQM) that will work to unlock the development of
the La Granja project, one of the largest undeveloped copper deposits in the
world, with potential to be a large, long-life operation. FQM acquired its
stake for $105m. It will invest up to a further $546m into the joint venture
to sole fund capital and operational costs to take the project through a
feasibility study and toward development.
( )
(1) Mitsui holds its 40% interest through an entity named SPC Blue Pty Ltd and
AMB holds its 10% interest through Rhodes Ridge Mining (No 1) Pty Ltd, a
wholly owned subsidiary of Wright Prospecting Pty Ltd, that is managed and
controlled by AMB.
11. Exploration and evaluation
Commodities Advanced projects Greenfield/ Brownfield programs QoQ change
Iron Ore Pilbara, Australia Greenfield and Brownfield: Pilbara, Australia NA
Bauxite Greenfield: Australia NA
Lithium Greenfield: Australia and Rwanda Canada removed
Copper Nuevo Cobre, Chile Greenfield: Angola, Australia, Canada, Chile, China, Colombia, Kazakhstan, Added Greenfield Canada
Laos, Peru, Papua New Guinea, Serbia(1), USA and Zambia
Comita, Colombia
Other Chiri, Angola (diamonds) NA
Kasiya(1), Malawi (titanium)
(1) Non-operated.
• Overall, Rio Tinto has a strong portfolio of exploration projects
with activity in 15 countries across six commodities. We continue to sharpen
and focus and simplify the portfolio.
12. First quarter public releases
8 January 2026
(https://www.riotinto.com/en/news/releases/2026/statement-regarding-glencore-plc-glencore)
|
(https://www.riotinto.com/en/news/releases/2026/statement-regarding-glencore-plc-glencore)
Statement regarding Glencore plc ("Glencore")
(https://www.riotinto.com/en/news/releases/2026/statement-regarding-glencore-plc-glencore)
15 January 2026
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-and-bhp-explore-collaboration-to-mine-up-to-200-million-tonnes-of-pilbara-iron-ore)
|
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-and-bhp-explore-collaboration-to-mine-up-to-200-million-tonnes-of-pilbara-iron-ore)
Rio Tinto and BHP explore collaboration to mine up to 200 million tonnes of
Pilbara iron ore
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-and-bhp-explore-collaboration-to-mine-up-to-200-million-tonnes-of-pilbara-iron-ore)
15 January 2026
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-and-amazon-web-services-collaborate-to-bring-low-carbon-nuton-copper-to-u-s--data-centres)
|
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-and-amazon-web-services-collaborate-to-bring-low-carbon-nuton-copper-to-u-s--data-centres)
Rio Tinto and Amazon Web Services collaborate to bring low-carbon Nuton copper
to U.S. data centres
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-and-amazon-web-services-collaborate-to-bring-low-carbon-nuton-copper-to-u-s--data-centres)
20
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-expands-solar-power-capacity-at-kennecott-utah)
January
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-expands-solar-power-capacity-at-kennecott-utah)
202
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-expands-solar-power-capacity-at-kennecott-utah)
6 |
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-expands-solar-power-capacity-at-kennecott-utah)
Rio Tinto expands solar power capacity at Kennecot
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-expands-solar-power-capacity-at-kennecott-utah)
t
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-expands-solar-power-capacity-at-kennecott-utah)
30 January 2026 |
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-strengthens-its-global-low-carbon-aluminium-footprint-through-joint-acquisition-with-chalco-of-votorantims-interest-in-cba)
Rio Tinto strengthens its global low-carbon aluminium footprint through joint
acquisition with Chalco of Votorantim's interest in CBA
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-strengthens-its-global-low-carbon-aluminium-footprint-through-joint-acquisition-with-chalco-of-votorantims-interest-in-cba)
3 Februa
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-and-groupe-ch-launch-forged-here-celebrating-the-people-and-communities-behind-quebec-made-aluminium)
ry 2026 |
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-and-groupe-ch-launch-forged-here-celebrating-the-people-and-communities-behind-quebec-made-aluminium)
Rio Tinto and Groupe CH launch "Forged here" celebrating the people and
communities behind Quebec-made aluminium
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-and-groupe-ch-launch-forged-here-celebrating-the-people-and-communities-behind-quebec-made-aluminium)
5 February 202
(https://www.riotinto.com/en/news/releases/2026/no-intention-to-bid-statement)
6
(https://www.riotinto.com/en/news/releases/2026/no-intention-to-bid-statement)
|
(https://www.riotinto.com/en/news/releases/2026/no-intention-to-bid-statement)
No intention to bid statement
(https://www.riotinto.com/en/news/releases/2026/no-intention-to-bid-statement)
12 Febr
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-executive-team-change)
uary 202
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-executive-team-change)
6 |
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-executive-team-change)
Rio Tinto e
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-executive-team-change)
xecutive team change
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-executive-team-change)
15 February 2026 |
(https://www.riotinto.com/en/news/releases/2026/fatal-incident-at-simandou-project)
Fatal incident at Simandou project
(https://www.riotinto.com/en/news/releases/2026/fatal-incident-at-simandou-project)
18 February 2026
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-assumes-majority-interest-and-management-responsibilities-at-nemaska-lithium)
|
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-assumes-majority-interest-and-management-responsibilities-at-nemaska-lithium)
Rio Tinto assumes majority interest and management responsibilities at Nemaska
Lithium
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-assumes-majority-interest-and-management-responsibilities-at-nemaska-lithium)
19 February 2026
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-solid-results-underpinned-by-8-cueq-production-and-sharper-cost-discipline)
|
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-solid-results-underpinned-by-8-cueq-production-and-sharper-cost-discipline)
Rio Tinto Annual Results 2025
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-solid-results-underpinned-by-8-cueq-production-and-sharper-cost-discipline)
27 February 2026
(https://www.riotinto.com/en/news/releases/2026/tlicho-government-and-diavik-diamond-mine-sign-closure-agreement-in-behchoko)
|
(https://www.riotinto.com/en/news/releases/2026/tlicho-government-and-diavik-diamond-mine-sign-closure-agreement-in-behchoko)
Tłı̨chǫ Government and Diavik Diamond Mine sign closure agreement in
Behchokǫ̀
(https://www.riotinto.com/en/news/releases/2026/tlicho-government-and-diavik-diamond-mine-sign-closure-agreement-in-behchoko)
2 March
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-advances-gallium-metal-rd-project-in-partnership-with-the-government-of-canada)
|
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-advances-gallium-metal-rd-project-in-partnership-with-the-government-of-canada)
Rio Tinto advances gallium metal R&D project in partnership with the
Government of Canada
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-advances-gallium-metal-rd-project-in-partnership-with-the-government-of-canada)
2 March 2026
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-approves-zulti-south-investment)
|
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-approves-zulti-south-investment)
Rio Tinto approves Zulti South investment of $473 million and lifts project
suspension
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-approves-zulti-south-investment)
4 March
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-and-wa-government-partner-to-expand-dampier-seawater-desalination-plant)
2026 |
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-and-wa-government-partner-to-expand-dampier-seawater-desalination-plant)
Rio Tinto and WA Government partner to expand Dampier Seawater Desalination
Plant
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-and-wa-government-partner-to-expand-dampier-seawater-desalination-plant)
11 March 2026
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-secures-1-175-billion-financing-package-for-rincon-lithium-project-in-argentina)
|
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-secures-1-175-billion-financing-package-for-rincon-lithium-project-in-argentina)
Rio Tinto secures $1.175 billion financing package for Rincon lithium project
in Argentina
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-secures-1-175-billion-financing-package-for-rincon-lithium-project-in-argentina)
12 March 2026
(https://www.riotinto.com/en/news/releases/2026/fatal-incident-at-rio-tinto-kennecott)
|
(https://www.riotinto.com/en/news/releases/2026/fatal-incident-at-rio-tinto-kennecott)
Fatal incident at Rio Tinto Kennecott
(https://www.riotinto.com/en/news/releases/2026/fatal-incident-at-rio-tinto-kennecott)
12 March 2026
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-and-prysmian-partner-to-deliver-innovative-low-carbon-aluminium)
|
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-and-prysmian-partner-to-deliver-innovative-low-carbon-aluminium)
Rio Tinto and Prysmian partner to deliver innovative low-carbon aluminium
solutions for the data centre market
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-and-prysmian-partner-to-deliver-innovative-low-carbon-aluminium)
13 March
(https://www.riotinto.com/en/news/releases/2026/update-on-the-nemaska-lithium-bcancour-project)
2026 |
(https://www.riotinto.com/en/news/releases/2026/update-on-the-nemaska-lithium-bcancour-project)
Update on the Nemaska Lithium Bécancour project
(https://www.riotinto.com/en/news/releases/2026/update-on-the-nemaska-lithium-bcancour-project)
16 March 2026
(https://www.riotinto.com/en/news/releases/2026/resolution-copper-completes-historic-land-exchange)
(https://www.riotinto.com/en/news/releases/2026/resolution-copper-completes-historic-land-exchange)
|
(https://www.riotinto.com/en/news/releases/2026/resolution-copper-completes-historic-land-exchange)
Resolution Copper completes historic land exchange
(https://www.riotinto.com/en/news/releases/2026/resolution-copper-completes-historic-land-exchange)
25 March 2026
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-queensland-and-commonwealth-secure-long-term-future-for-boyne-aluminium-smelter-at-gladstone)
|
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-queensland-and-commonwealth-secure-long-term-future-for-boyne-aluminium-smelter-at-gladstone)
Rio Tinto, Queensland and Commonwealth secure long-term future for Boyne
aluminium smelter at Gladstone
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-queensland-and-commonwealth-secure-long-term-future-for-boyne-aluminium-smelter-at-gladstone)
26 March 2026
(https://www.riotinto.com/en/news/releases/2026/rio-tintos-diavik-diamond-mine-delivers-its-final-production)
|
(https://www.riotinto.com/en/news/releases/2026/rio-tintos-diavik-diamond-mine-delivers-its-final-production)
Rio Tinto's Diavik diamond mine delivers its final production
(https://www.riotinto.com/en/news/releases/2026/rio-tintos-diavik-diamond-mine-delivers-its-final-production)
26 March 2026
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-releases-details-of-9-9-billion-of-taxes-and-royalties-paid-in-2025)
|
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-releases-details-of-9-9-billion-of-taxes-and-royalties-paid-in-2025)
Rio Tinto releases details of $9.9 billion of taxes and royalties paid in 2025
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-releases-details-of-9-9-billion-of-taxes-and-royalties-paid-in-2025)
27 March 2026
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-boosts-2025-australian-supplier-spend-to-record-a19-7-billion)
|
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-boosts-2025-australian-supplier-spend-to-record-a19-7-billion)
Rio Tinto boosts 2025 Australian supplier spend to record A$19.7 billion
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-boosts-2025-australian-supplier-spend-to-record-a19-7-billion)
27 March
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-spends-record-a12billion-with-wa-suppliers)
2026 |
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-spends-record-a12billion-with-wa-suppliers)
Rio Tinto spends record A$12 billion with Western Australian suppliers in 2025
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-spends-record-a12billion-with-wa-suppliers)
30 March 2026
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-provides-iron-ore-update-following-tropical-cyclone-narelle)
|
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-provides-iron-ore-update-following-tropical-cyclone-narelle)
Rio Tinto provides Iron Ore update following Tropical Cyclone Narelle
(https://www.riotinto.com/en/news/releases/2026/rio-tinto-provides-iron-ore-update-following-tropical-cyclone-narelle)
Contacts Please direct all enquiries to media.enquiries@riotinto.com
Media Relations, Media Relations, Media Relations,
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Tom Gallop
Rachel Arellano M +61 439 353 948
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Eddie Gan-Och
David Ovington M +61 477 599 714
M +44 7920 010 978
Laura Brooks
M +44 7826 942 797
Weiwei Hu
M +44 7825 907 230
Rio Tinto plc Rio Tinto Limited
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London SW1Y 4AD Melbourne 3000
United Kingdom Australia
T +44 20 7781 2000 T +61 3 9283 3333
Registered in England Registered in Australia
No. 719885 ABN 96 004 458 404
This announcement is authorised for release to the market by Andy Hodges, Rio
Tinto's Group Company Secretary.
riotinto.com
LEI: 213800YOEO5OQ72G2R82
Forward-looking statement
This announcement includes "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. All statements other
than statements of historical facts included in this report, including,
without limitation, those regarding Rio Tinto's financial position, production
guidance, business strategy, plans and objectives of management for future
operations (including development plans and objectives relating to Rio Tinto's
products, production forecasts and reserve and resource positions), are
forward-looking statements. The words "intend", "aim", "project",
"anticipate", "estimate", "plan", "believes", "expects", "may", "should",
"will", "target", "set to" or similar expressions, commonly identify such
forward-looking statement.
Such forward-looking statements involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or
achievements of Rio Tinto, or industry results, to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking statements. Such forward-looking statements are based on
numerous assumptions regarding Rio Tinto's present and future business
strategies and the environment in which Rio Tinto will operate in the future.
A discussion of the important factors that could cause Rio Tinto's actual
results, performance or achievements to differ materially from those in the
forward-looking statements can be found in Rio Tinto's most recent Annual
Report and accounts in Australia and the United Kingdom and the most recent
Annual Report on Form 20-F filed with the United States Securities and
Exchange Commission (the "SEC") or Form 6-Ks furnished to, or filed with, the
SEC. Forward-looking statements should, therefore, be construed in light of
the risk factors discussed in such documents, and undue reliance should not
be placed on forward-looking statements. These forward-looking statements
speak only as of the date of this report. Rio Tinto expressly disclaims any
obligation or undertaking (except as required by applicable law, the UK
Listing Rules, the Disclosure Guidance and Transparency Rules of the Financial
Conduct Authority and the Listing Rules of the Australian Securities Exchange)
to release publicly any updates or revisions to any forward-looking statement
contained herein to reflect any change in Rio Tinto's expectations with regard
thereto or any change in events, conditions or circumstances on which any such
statement is based.
Nothing in this announcement should be interpreted to mean that future
earnings per share of Rio Tinto plc or Rio Tinto Limited will necessarily
match or exceed its historical published earnings per share. Past performance
cannot be relied on as a guide to future performance.
Rio Tinto production summary
Rio Tinto share of production
Quarter % change
Q1 Q2 Q3 Q4 Q1 Q1 26 Q1 26
2025 2025 2025 2025 2026 vs vs
Q1 25 Q4 25
Principal commodities
Alumina ('000 t) 1,921 1,815 1,888 1,969 2,038 +6 % +3 %
Aluminium (Primary) ('000 t) 829 842 857 852 835 +1 % -2 %
Bauxite ('000 t) 14,966 15,644 16,392 15,397 13,281 -11 % -14 %
Borates ('000 t) 117 132 128 124 128 +9 % +3 %
Copper (consolidated) ('000 t) 210 229 204 240 229 +9 % -5 %
Iron Ore (a) ('000 t) 62,408 73,548 74,168 80,515 70,045 +12 % -13 %
Lithium carbonate equivalent (LCE) ('000 t) 17.2 (b) 12.2 12.5 15.4 12.7 NA (b) -17 %
Titanium dioxide slag ('000 t) 223 269 261 222 218 -2 % -2 %
Other Metals & Minerals
Diamonds ('000 cts) 942 1,238 1,137 1,112 1,041 +11 % -6 %
Gold - mined ('000 oz) 78.7 112.9 120.8 151.9 133.3 +69 % -12 %
Gold - refined ('000 oz) 34.0 32.1 19.4 31.3 37.9 +11 % +21 %
Molybdenum ('000 t) 1.0 1.1 1.3 1.7 2.5 +142 % +50 %
Salt ('000 t) 836 1,375 1,197 1,342 951 +14 % -29 %
Silver - mined ('000 oz) 1,159 1,474 1,233 1,650 1,777 +53 % +8 %
Silver - refined ('000 oz) 635 509 254 439 632 -1 % +44 %
Throughout this report, figures in italics indicate adjustments made since the
figure was previously quoted on the equivalent page or reported for the first
time. Production figures are sometimes more precise than the rounded numbers
shown, hence small differences may result between the total of the quarter
figures and the year to date figures.
(a) Iron Ore production for Pilbara operations and Iron Ore Company of Canada
refers to saleable production (after crushing, screening and beneficiation).
For Simandou, it represents crushed ore at the SimFer mine gate before train
loading: final (tertiary) crushing of Simandou ore takes place in China. There
is a ~2-3 month lag between mine gate production and sales; this accounts for
time for railing of ore to the port in Guinea, shipping to China and tertiary
crushing in China.
(b) 2025 first quarter lithium carbonate equivalent production from Arcadium
was 17.2kt (20.0kt on a 100% basis) of which 5.6kt was produced since
completion of the acquisition in March (6.5kt on a 100% basis), lithium
carbonate equivalent shipments from Arcadium was 12.1kt (15.2kt on a 100%
basis) of which 3.8kt was shipped since completion of the acquisition in March
2025 (5.0kt on a 100% basis).
Rio Tinto share of production
Rio Tinto Q1 Q2 Q3 Q4 Q1
interest
2025
2025
2025
2025
2026
ALUMINA
Production ('000 tonnes)
Jonquière (Vaudreuil) 100 % 355 340 323 351 349
Jonquière (Vaudreuil) specialty Alumina plant 100 % 25 30 26 29 28
Queensland Alumina 80 % 685 699 697 710 839
São Luis (Alumar) 10 % 90 93 98 98 98
Yarwun 100 % 765 653 743 781 724
Rio Tinto total alumina production 1,921 1,815 1,888 1,969 2,038
ALUMINIUM
Primary production ('000 tonnes)
Australia - Bell Bay 100 % 46 48 49 48 47
Australia - Boyne Island 74 % 92 92 94 93 91
Australia - Tomago 52 % 72 73 75 76 73
Canada - six wholly owned 100 % 387 392 397 386 378
Canada - Alouette (Sept-Îles) 40 % 62 62 60 63 63
Canada - Bécancour 25 % 28 30 30 30 29
Iceland - ISAL (Reykjavik) 100 % 48 51 51 52 52
New Zealand - Tiwai Point 100 % 74 75 82 83 82
Oman - Sohar 20 % 20 20 20 20 20
Rio Tinto total primary aluminium production 829 842 857 852 835
Recycled production ('000 tonnes)
Matalco 50 % 66 74 68 62 61
Rio Tinto total recycled aluminium production 66 74 68 62 61
BAUXITE
Production ('000 tonnes) (a)
Gove 100 % 3,141 3,303 3,244 3,040 3,109
Porto Trombetas 22 % 519 676 690 659 523
Sangaredi (b) 2,290 2,028 1,671 1,676 1,746
Weipa 100 % 9,017 9,637 10,788 10,021 7,903
Rio Tinto total bauxite production 14,966 15,644 16,392 15,397 13,281
(a) Mine production figures for metals refer to the total quantity of metal
produced in concentrates, leach liquor or doré bullion irrespective of
whether these products are then refined onsite, except for the data for
bauxite and iron ore which represent production of marketable quantities of
ore plus concentrates and pellets.
(b) Rio Tinto has a 22.95% shareholding in the Sangaredi mine but benefits
from 45.0% of production.
Rio Tinto share of production
Rio Tinto Q1 Q2 Q3 Q4 Q1
interest
2025
2025
2025
2025
2026
BORATES
Production ('000 tonnes B(2)O(3) content)
Rio Tinto Borates - borates 100 % 117 132 128 124 128
COPPER
Mine production ('000 tonnes) (a)
Bingham Canyon 100 % 27.5 40.7 18.5 38.4 34.7
Escondida 30 % 98.7 96.4 96.7 89.9 88.7
Oyu Tolgoi 66 % 43.0 57.3 58.9 68.6 67.1
Rio Tinto total mine production 169.3 194.4 174.1 196.9 190.5
Refined production ('000 tonnes)
Escondida 30 % 13.6 14.6 14.0 14.0 16.4
Kennecott (b) 100 % 42.3 39.8 13.0 38.4 34.0
Rio Tinto total refined production 55.9 54.4 27.0 52.4 50.5
Copper production - consolidated basis ('000 tonnes)
Kennecott (b) - Production of refined metal 42.3 39.8 13.0 38.4 34.0
Escondida - Mill production (metal in concentrates) (c) 88.7 87.3 88.3 83.9 76.5
Escondida - Refined production from leach plants 13.6 14.6 14.0 14.0 16.4
Oyu Tolgoi - Metal in concentrates 65.2 86.8 89.2 103.9 101.6
Rio Tinto total production - consolidated basis 209.8 228.5 204.4 240.3 228.6
(a) Mine production figures for metals refer to the total quantity of metal
produced in concentrates, leach liquor or doré bullion irrespective of
whether these products are then refined onsite, except for the data for
bauxite and iron ore which represent production of marketable quantities of
ore plus concentrates and
pellets.
(b) We continue to process third party concentrate to optimise smelter
utilisation, including 7 thousand tonnes of cathode produced from purchased
concentrate in Q1 2026. Purchased and tolled copper concentrates are excluded
from reported production figures and guidance. Sales of cathodes produced from
purchased concentrate are included in reported revenues.
(c) Mill production was previously reported together with recoverable copper
in ore stacked for leaching as mined production.
Rio Tinto Q1 Q2 Q3 Q4 Q1
interest
2025
2025
2025
2025
2026
DIAMONDS
Production ('000 carats)
Diavik 100 % 942 1,238 1,137 1,112 1,041
GOLD
Metal in concentrates production ('000 ounces) (a)
Bingham Canyon 100 % 24.7 36.5 19.0 37.6 36.3
Escondida 30 % 13.4 12.1 10.6 9.6 15.7
Oyu Tolgoi 66 % 40.6 64.4 91.2 104.7 81.2
Rio Tinto total mine production 78.7 112.9 120.8 151.9 133.3
Refined production ('000 ounces)
Kennecott (b) 100 % 34.0 32.1 19.4 31.3 37.9
(a) Mine production figures for metals refer to the total quantity of metal
produced in concentrates, leach liquor or doré bullion irrespective of
whether these products are then refined onsite, except for the data for
bauxite and iron ore which represent production of marketable quantities of
ore plus concentrates and
pellets.
(b) We continue to process third party concentrate to optimise smelter
utilisation, including 7 thousand tonnes of cathode produced from purchased
concentrate in Q1 2026. Purchased and tolled copper concentrates are excluded
from reported production figures and guidance. Sales of cathodes produced from
purchased concentrate are included in reported revenues.
Rio Tinto share of production
Rio Tinto Q1 Q2 Q3 Q4 Q1
interest 2025 2025 2025 2025 2026
IRON ORE
Production ('000 tonnes) (a)
Hamersley mines (b) 49,637 57,422 58,574 63,972 55,828
Hope Downs 50 % 3,608 5,206 4,742 4,819 4,074
Iron Ore Company of Canada 59 % 2,317 2,488 2,348 2,187 2,023
Robe River - Pannawonica (Mesas J and A) 53 % 3,538 3,960 3,588 4,077 3,618
Robe River - West Angelas 53 % 3,308 4,472 4,917 4,436 4,246
Simandou 45% (g) 0 0 0 1,023 257
Rio Tinto iron ore production ('000 tonnes) (a) 62,408 73,548 74,168 80,515 70,045
Breakdown of Production:
Pilbara Blend and SP10 Lump (c) 19,385 23,186 24,003 25,557 22,326
Pilbara Blend and SP10 Fines (c) 27,860 32,970 33,357 35,974 31,468
Robe Valley Lump 1,536 1,679 1,663 1,672 1,539
Robe Valley Fines 2,002 2,280 1,924 2,405 2,079
Yandicoogina Fines (HIY) 9,309 10,944 10,873 11,697 10,354
Pilbara iron ore production ('000 tonnes) 60,091 71,060 71,820 77,305 67,766
IOC Concentrate 948 1,179 936 785 1,010
IOC Pellets 1,369 1,309 1,411 1,402 1,013
IOC iron ore production ('000 tonnes) 2,317 2,488 2,348 2,187 2,023
Simandou iron ore production ('000 tonnes) (f) 45% (g) 0 0 0 1,023 257
Sales ('000 tonnes)
Breakdown of Sales:
Pilbara Blend Lump 9,775 11,159 17,668 19,081 14,976
Pilbara Blend Fines 18,825 21,520 33,353 34,602 27,792
Robe Valley Lump 1,159 1,385 1,330 1,371 1,173
Robe Valley Fines 2,232 2,638 2,233 2,615 2,276
Yandicoogina Fines (HIY) 9,350 10,636 10,764 12,421 8,485
SP10 Lump (c) 8,117 8,324 2,938 3,637 2,744
SP10 Fines (c) 11,405 12,459 3,155 4,975 3,740
Pilbara iron ore sales ('000 tonnes) (d) 60,862 68,120 71,441 78,702 61,186
Pilbara iron ore sales - consolidated basis ('000 tonnes) (d) (e) 62,537 69,985 73,431 80,586 62,998
IOC Concentrate 646 1,276 1,056 837 676
IOC Pellets 1,356 1,382 1,306 1,376 1,258
IOC Iron ore sales ('000 tonnes) (d) 2,001 2,658 2,363 2,212 1,934
Simandou iron ore sales ('000 tonnes) (h) 45% (g) 0 0 0 0 0
(a) Mine production figures for metals refer to the total quantity of metal
produced in concentrates, leach liquor or doré bullion irrespective of
whether these products are then refined onsite, except for the data for
bauxite and iron ore which represent production of marketable quantities of
ore plus concentrates and pellets. Iron Ore production for Pilbara operations
and Iron Ore Company of Canada refers to saleable production (after crushing,
screening and beneficiation). For Simandou, it represents crushed ore at the
SimFer mine gate before train loading: final (tertiary) crushing of Simandou
ore takes place in China. There is a ~2-3 month lag between mine gate
production and sales; this accounts for time for railing of ore to the port in
Guinea, shipping to China and tertiary crushing in China.
(b) Includes 100% of production from Paraburdoo, Mt Tom Price, Western Turner
Syncline, Marandoo, Yandicoogina, Brockman, Nammuldi, Silvergrass, Channar,
Gudai-Darri, Eastern Range and Western Range mines. Whilst Rio Tinto owns
54% of the Eastern Range and the Western Range mines, under the terms of the
joint venture agreement, Hamersley Iron manages the operation and is obliged
to purchase all mine production from the joint venture and therefore all of
the production is included in Rio Tinto's share of production.
(c) SP10 includes other lower grade products.
(d) Sales includes material shipped to our portside trading facility in China
which may not be sold onwards in the same period.
(e) While Rio Tinto has a 53% net beneficial interest in Robe River Iron
Associates, it recognises 65% of the assets, liabilities, sales revenues and
expenses in its accounts (as 30% is held through a 60% owned subsidiary and
35% is held through a 100% owned subsidiary). The consolidated basis sales
reported here include Robe River Iron Associates on a 65% basis to enable
comparison with revenue reported in the financial statements.
(f) Simandou production represents crushed ore at the SimFer mine gate before
train loading. Final crushing is undertaken in China, hence, Simandou mine
gate production is not considered to be saleable production.
(g) Represents the Rio Tinto equity share of SimFer Jersey (53% owned by Rio
Tinto), which owns 85% of the SimFer mine (Blocks 3&4).
(h) Simandou sales will represent ore which has been through tertiary crushing
in China and collected by the customer. There is a ~2-3 month lag between mine
gate production and sales; this accounts for time for railing of ore to the
port in Guinea, shipping to China and tertiary crushing in China, and
collection of final product by the customer.
Rio Tinto share of production
Rio Tinto Q1 Q2 Q3 Q4 Q1
interest 2025 2025 2025 2025 2026
LITHIUM
Production ('000 tonnes)
Lithium carbonate (a) 12.2 11.4 11.2 13.9 12.4
Lithium hydroxide 100 % 4.3 5.3 6.0 5.1 5.5
Spodumene 100 % 34.0 - 0.0 0.0 0.0
Other lithium specialities (LCE) 100 % 1.2 1.4 1.7 1.3 0.8
Total lithium carbonate equivalent (LCE) production (b) 17.2 (c) 12.2 12.5 15.4 12.7
(a) Lithium carbonate quantities reflect Rio Tinto's 66.5% ownership in
Olaroz, 100% ownership in Fenix
(b) The lithium value chain is vertically integrated and as a result
production volumes are not additive. Lithium Carbonate Equivalent (LCE) is
derived from volumes of lithium carbonate, lithium chloride, and spodumene
concentrate. These compounds are used as feedstock in downstream production.
(c) 2025 first quarter lithium carbonate equivalent production from Arcadium
was 17.2kt (20.0kt on a 100% basis) of which 5.6kt was produced since
completion of the acquisition in March (6.5kt on a 100% basis), lithium
carbonate equivalent shipments from Arcadium was 12.1kt (15.2kt on a 100%
basis) of which 3.8kt was shipped since completion of the acquisition in March
2025 (5.0kt on a 100% basis).
MOLYBDENUM
Mine production ('000 tonnes) (a)
Bingham Canyon 100 % 1.0 1.1 1.3 1.7 2.5
(a) Mine production figures for metals refer to the total quantity of metal
produced in concentrates, leach liquor or doré bullion irrespective of
whether these products are then refined onsite, except for the data for
bauxite and iron ore which represent production of marketable quantities of
ore plus concentrates and pellets.
SALT
Production ('000 tonnes)
Dampier Salt 68 % 836 1,375 1,197 1,342 951
SILVER
Metal in concentrates production ('000 tonnes) (a)
Bingham Canyon 100 % 357 539 282 556 536
Escondida 30 % 536 572 583 653 834
Oyu Tolgoi 66 % 266 363 369 441 406
Rio Tinto total mine production 1,159 1,474 1,233 1,650 1,777
Refined production ('000 ounces)
Kennecott (b) 100 % 635 509 254 439 632
(a) Mine production figures for metals refer to the total quantity of metal
produced in concentrates, leach liquor or doré bullion irrespective of
whether these products are then refined onsite, except for the data for
bauxite and iron ore which represent production of marketable quantities of
ore plus concentrates and pellets.
(b) We continue to process third party concentrate to optimise smelter
utilisation, including 7 thousand tonnes of cathode produced from purchased
concentrate in Q1 2026. Purchased and tolled copper concentrates are excluded
from reported production figures and guidance. Sales of cathodes produced from
purchased concentrate are included in reported revenues.
Rio Tinto Q1 Q2 Q3 Q4 Q1
interest 2025 2025 2025 2025 2026
TITANIUM DIOXIDE SLAG
Production ('000 tonnes)
Rio Tinto Iron & Titanium (a) 100 % 223 269 261 222 218
(a) Quantities comprise 100% of Rio Tinto Fer et Titane and Rio Tinto's 74%
interest in Richards Bay Minerals (RBM).
Production figures are sometimes more precise than the rounded numbers shown,
hence small differences may result between the total of the quarter figures
and the year to date figures.
Rio Tinto percentage interest shown above is at 31 March 2026.
Rio Tinto operational data
Rio Tinto Q1 Q2 Q3 Q4 Q1
interest
2025
2025
2025
2025
2026
ALUMINA
Smelter Grade Alumina - Aluminium Group
Alumina production ('000 tonnes)
Australia
Queensland Alumina Refinery - Queensland 80 % 856 874 871 887 839
Yarwun refinery - Queensland 100 % 765 653 743 781 724
Brazil
São Luis (Alumar) refinery 10 % 901 926 984 984 977
Canada
Jonquière (Vaudreuil) refinery - Quebec (a) 100 % 355 340 323 351 349
(a) Jonquière's (Vaudreuil's) production shows smelter grade alumina only and
excludes hydrate produced and used for specialty alumina.
Speciality Alumina - Aluminium Group
Speciality alumina production ('000 tonnes)
Canada
Jonquière (Vaudreuil) plant - Quebec 100 % 25 30 26 29 28
Rio Tinto percentage interest shown above is at 31 March 2026. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q1 Q2 Q3 Q4 Q1
interest 2025 2025 2025 2025 2026
ALUMINIUM
Primary Aluminium
Primary aluminium production ('000 tonnes)
Australia
Bell Bay smelter - Tasmania 100 % 46 48 49 48 47
Boyne Island smelter - Queensland 74 % 125 125 127 127 124
Tomago smelter - New South Wales 52 % 140 141 145 148 141
Canada
Alma smelter - Quebec 100 % 119 120 122 123 120
Alouette (Sept-Îles) smelter - Quebec 40 % 155 154 149 158 158
Arvida smelter - Quebec 100 % 36 36 34 24 20
Arvida AP60 smelter - Quebec 100 % 15 15 15 16 15
Bécancour smelter - Quebec 25 % 113 120 118 119 117
Grande-Baie smelter - Quebec 100 % 56 56 58 58 57
Kitimat smelter - British Columbia 100 % 100 102 103 101 105
Laterrière smelter - Quebec 100 % 62 62 64 63 62
Iceland
ISAL (Reykjavik) smelter 100 % 48 51 51 52 52
New Zealand
Tiwai Point smelter 100 % 74 75 82 83 82
Oman
Sohar smelter 20 % 99 101 101 100 99
Recycled Aluminium
Recycled aluminium production ('000 tonnes)
Matalco 50 % 132 147 135 124 121
Rio Tinto percentage interest shown above is at 31 March 2026. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q1 Q2 Q3 Q4 Q1
interest 2025 2025 2025 2025 2026
BAUXITE
Bauxite production ('000 tonnes)
Australia
Gove mine - Northern Territory 100 % 3,141 3,303 3,244 3,040 3,109
Weipa mine - Queensland 100 % 9,017 9,637 10,788 10,021 7,903
Brazil
Porto Trombetas (MRN) mine 22 % 2,357 3,071 3,134 2,997 2,379
Guinea
Sangaredi mine (a) 23 % 5,089 4,506 3,712 3,725 3,880
Rio Tinto share of bauxite shipments
Share of total bauxite shipments ('000 tonnes) 14,390 15,670 16,396 15,102 13,427
Share of third party bauxite shipments ('000 tonnes) 9,807 11,147 11,600 10,532 9,018
(a) Rio Tinto has a 22.95% shareholding in the Sangaredi mine but benefits
from 45.0% of production.
Rio Tinto Q1 Q2 Q3 Q4 Q1
interest
2025
2025
2025
2025
2026
BORATES
US
Borates ('000 tonnes) (a) 100 % 117 132 128 124 128
(a) Production is expressed as B(2)O(3) content.
Rio Tinto Q1 Q2 Q3 Q4 Q1
interest 2025 2025 2025 2025 2026
COPPER & GOLD
Escondida 30 %
Chile
Sulphide ore to concentrator ('000 tonnes) 32,889 36,490 36,721 35,628 34,225
Average copper grade (%) 1.09 0.95 0.94 0.91 0.88
Contained copper ('000 tonnes) 295.6 291.0 294.2 279.7 255.1
Contained gold ('000 ounces) 44.5 40.3 35.3 31.9 52.5
Contained silver ('000 ounces) 1,787 1,906 1,942 2,176 2,780
Recoverable copper in ore stacked for leaching ('000 tonnes) (a) 33.5 30.3 28.1 20.0 40.7
Refined production from leach plants:
Copper cathode production ('000 tonnes) 45.2 48.7 46.5 46.7 54.8
Sales of metals:
Copper in concentrates ('000 tonnes) (b) 309 286 258 278 252
Copper cathode ('000 tonnes) 47 53 38 50 50
Gold ('000 ounces) (b) 45 40 35 32 52
Silver ('000 ounces) (b) 1,787 1,906 1,942 2,176 2,780
(a) The calculation of copper in material mined for leaching is based on ore
stacked at the leach pad.
(b) Payable metals in concentrates
Rio Tinto percentage interest shown above is at 31 March 2026. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q1 Q2 Q3 Q4 Q1
interest 2025 2025 2025 2025 2026
COPPER & GOLD (continued)
Kennecott
Bingham Canyon mine 100 %
Utah, US
Ore treated ('000 tonnes) 9,339 10,630 5,928 11,249 10,168
Average ore grade:
Copper (%) 0.35 0.45 0.37 0.41 0.41
Gold (g/t) 0.14 0.17 0.16 0.18 0.17
Silver (g/t) 1.81 2.21 2.11 2.31 2.32
Molybdenum (%) 0.029 0.031 0.047 0.027 0.046
Copper concentrates produced ('000 tonnes) 131 175 75 162 152
Average concentrate grade (% Cu) 21.0 23.3 24.6 23.2 22.8
Production of metals in copper concentrates:
Copper ('000 tonnes) (a) 27.5 40.7 18.5 38.4 34.7
Gold ('000 ounces) 24.7 36.5 19.0 37.6 36.3
Silver ('000 ounces) 357 539 282 556 536
Molybdenum concentrates produced ('000 tonnes): 2.4 2.7 3.3 4.2 5.7
Molybdenum in concentrates ('000 tonnes) 1.0 1.1 1.3 1.7 2.5
Kennecott smelter & refinery 100 %
Copper concentrates smelted ('000 tonnes) 163 123 131 194 98
Copper anodes produced ('000 tonnes) (b) 36.2 33.6 27.8 37.9 19.7
Production of refined metal:
Copper ('000 tonnes) (c) 42.3 39.8 13.0 38.4 34.0
Gold ('000 ounces) (d) 34.0 32.1 19.4 31.3 37.9
Silver ('000 ounces) (d) 635 509 254 439 632
Sales of refined metal:
Copper ('000 tonnes) (c) 40.7 41.7 10.2 41.9 33.4
Gold ('000 ounces) 33.6 30.8 17.7 29.7 36.0
Silver ('000 ounces) 625 500 230 427 604
(a) Includes a small amount of copper in precipitates.
(b) New metal excluding recycled material.
(c) We continue to process third party concentrate to optimise smelter
utilisation, including 7 thousand tonnes of cathode produced from purchased
concentrate in Q1 2026. Purchased and tolled copper concentrates are excluded
from reported production figures and guidance. Sales of cathodes produced from
purchased concentrate are included in reported revenues.
(d) Includes gold and silver in intermediate products.
Rio Tinto percentage interest shown above is at 31 March 2026. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q1 Q2 Q3 Q4 Q1
interest 2025 2025 2025 2025 2026
COPPER & GOLD (continued)
Oyu Tolgoi mine 66 %
Mongolia
Ore Treated ('000 tonnes) - Open Pit 7,469 6,836 7,282 7,926 7,334
Ore Treated ('000 tonnes) - Underground 2,434 3,198 2,870 3,406 3,500
Ore Treated ('000 tonnes) - Total 9,903 10,034 10,153 11,332 10,834
Average mill head grades:
Open Pit
Copper (%) 0.42 0.47 0.54 0.55 0.54
Gold (g/t) 0.25 0.37 0.58 0.62 0.46
Silver (g/t) 1.02 1.07 1.13 1.16 1.08
Underground
Copper (%) 2.03 2.13 2.16 2.20 2.16
Gold (g/t) 0.55 0.61 0.63 0.59 0.61
Silver (g/t) 4.47 4.75 4.87 4.94 4.81
Total
Copper (%) 0.82 1.00 1.00 1.05 1.06
Gold (g/t) 0.32 0.44 0.59 0.61 0.51
Silver (g/t) 1.87 2.24 2.19 2.29 2.29
Copper concentrates produced ('000 tonnes) 303.4 381.6 394.9 464.3 465.3
Average concentrate grade (% Cu) 21.5 22.7 22.6 22.4 21.8
Production of metals in concentrates:
Copper in concentrates ('000 tonnes) 65.2 86.8 89.2 103.9 101.6
Gold in concentrates ('000 ounces) 61.5 97.5 138.2 158.6 123.1
Silver in concentrates ('000 ounces) 403 550 559 668 616
Sales of metals in concentrates (a):
Copper in concentrates ('000 tonnes) 57.7 86.4 80.9 92.4 105.1
Gold in concentrates ('000 ounces) 55.8 92.8 121.2 144.2 137.5
Silver in concentrates ('000 ounces) 338 514 474 557 614
(a) Sales of metals in concentrates refer to the payable metals in
concentrates collected by customers from the Mongolia/China border.
Rio Tinto Q1 Q2 Q3 Q4 Q1
interest 2025 2025 2025 2025 2026
DIAMONDS
Diavik Diamonds 100 %
Northwest Territories, Canada
Ore processed ('000 tonnes) 394 511 515 489 442
Diamonds recovered ('000 carats) 942 1,238 1,137 1,112 1,041
Rio Tinto percentage interest shown above is at 31 March 2026. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q1 Q2 Q3 Q4 Q1
2025
2025
2026
interest 2025 2025
IRON ORE
Rio Tinto Iron Ore
Western Australia
Pilbara Operations
Saleable iron ore production ('000 tonnes)
Hamersley mines (a) 49,637 57,422 58,574 63,972 55,828
Hope Downs 50 % 7,216 10,413 9,484 9,639 8,148
Robe River - Pannawonica (Mesas J and A) 53 % 6,676 7,471 6,769 7,693 6,826
Robe River - West Angelas 53 % 6,242 8,437 9,276 8,370 8,011
Total production ('000 tonnes) 69,771 83,743 84,104 89,674 78,813
Breakdown of total production:
Pilbara Blend and SP10 Lump (b) 22,452 27,374 28,545 29,678 26,031
Pilbara Blend and SP10 Fines (b) 31,334 37,954 37,917 40,606 35,603
Robe Valley Lump 2,899 3,169 3,138 3,155 2,903
Robe Valley Fines 3,778 4,303 3,631 4,538 3,923
Yandicoogina Fines (HIY) 9,309 10,944 10,873 11,697 10,354
Breakdown of total shipments:
Pilbara Blend Lump 11,997 12,967 21,142 21,362 16,799
Pilbara Blend Fines 22,434 25,849 38,477 39,448 32,170
Robe Valley Lump 2,187 2,614 2,510 2,588 2,214
Robe Valley Fines 4,211 4,977 4,214 4,934 4,294
Yandicoogina Fines (HIY) 9,350 10,636 10,764 12,421 8,485
SP10 Lump (b) 8,806 9,216 3,643 4,720 3,996
SP10 Fines (b) 11,755 13,629 3,597 5,787 4,430
Total shipments ('000 tonnes) (c) 70,740 79,887 84,346 91,259 72,387
Rio Tinto Q1 Q2 Q3 Q4 Q1
2025
2025
2026
interest 2025 2025
Iron Ore Company of Canada 59 %
Newfoundland & Labrador and Quebec in Canada
Saleable iron ore production:
Concentrates ('000 tonnes) 1,614 2,008 1,594 1,337 1,720
Pellets ('000 tonnes) 2,331 2,229 2,403 2,388 1,724
IOC Total production ('000 tonnes) 3,945 4,237 3,998 3,725 3,444
Shipments:
Concentrates ('000 tonnes) 1,100 2,173 1,799 1,425 1,151
Pellets ('000 tonnes) 2,308 2,353 2,225 2,343 2,143
IOC Total Shipments ('000 tonnes) (c) 3,408 4,526 4,024 3,768 3,294
Simandou 45% (e)
Simandou iron ore production ('000 tonnes) (d) 0 0 0 2,271 570
Simandou iron ore sales ('000 tonnes) 0 0 0 0 0
Global Iron Ore Totals
Iron Ore Sales ('000 tonnes) (f) 74,148 84,414 88,369 95,027 75,681
Iron Ore Production ('000 tonnes) (g) 73,716 87,980 88,102 95,670 82,828
(a) Includes 100% of production from Paraburdoo, Mt Tom Price, Western Turner
Syncline, Marandoo, Yandicoogina, Brockman, Nammuldi, Silvergrass, Channar,
Gudai-Darri, Eastern Range and Western Range mines. Whilst Rio Tinto owns
54% of the Eastern Range and the Western Range mines, under the terms of the
joint venture agreement, Hamersley Iron manages the operation and is obliged
to purchase all mine production from the joint venture and therefore all of
the production is included in Rio Tinto's share of production.
(b) SP10 includes other lower grade products.
(c) Sales includes material shipped to our portside trading facility in China
which may not be sold onwards in the same period.
(d) Simandou production represents crushed ore at the SimFer mine gate before
train loading. Final crushing is undertaken in China, hence, Simandou mine
gate production is not considered to be saleable production. There is 2.1wmt
(100% SimFer) stockpiled ore at the Simfer mine gate.
(e) Represents Rio Tinto's equity share of SimFer Jersey (53% owned by Rio
Tinto), which owns 85% of the SimFer mine (Blocks 3&4).
(f) Includes all shipments from Pilbara and IOC, including those to our
Portside trading business; Excludes shipments from our Portside
trading business. Simandou sales will represent ore which has been through
tertiary crushing in China and collected by the customer. There is a ~2-3
month lag between mine gate production and sales; this accounts for time for
railing of ore to the port in Guinea, shipping to China and tertiary crushing
in China, and collection of final product by the customer.
(g) Iron Ore production for Pilbara operations and Iron Ore Company of Canada
refers to saleable production (after crushing, screening and beneficiation).
For Simandou, it represents crushed ore at the SimFer mine gate before train
loading: final (tertiary) crushing of Simandou ore takes place in China. There
is a ~2-3 month lag between mine gate production and sales; this accounts for
time for railing of ore to the port in Guinea, shipping to China and tertiary
crushing in China and collection of final product by the customer.
Rio Tinto percentage interest shown above is at 31 March 2026. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q1 Q2 Q3 Q4 Q1
2025
2025
2026
interest 2025 2025
LITHIUM
Lithium production ('000 tonnes)
Lithium carbonate (a) (a) 15.0 13.9 13.9 16.9 14.9
Lithium hydroxide 100 % 4.3 5.3 6.0 5.1 5.5
Spodumene 100 % 34.0 0.0 0.0 0.0 0.0
Other lithium specialities (LCE) 100 % 1.2 1.4 2.1 0.9 0.8
Total lithium carbonate equivalent (LCE) production (b) 20.0 (c) 14.7 15.2 18.4 15.3
Third party shipments ('000 tonnes)
Lithium carbonate (a) (a) 9.6 6.2 11.5 14.9 9.8
Lithium hydroxide 100 % 2.7 4.9 4.7 6.4 4.1
Spodumene 100 % 19.6 22.6 30.6 0.0 0.0
Other lithium specialities (LCE) 100 % 0.5 0.5 0.4 0.5 0.6
Total lithium carbonate equivalent shipments ('000 LCE) 15.2 (c) 14.2 20.2 21.4 14.0
(a) Lithium carbonate quantities reflect our 100% share of Olaroz shipments,
of which Rio Tinto's ownership is 66.5%.
(b) The lithium value chain is vertically integrated and as a result
production volumes are not additive. Lithium Carbonate Equivalent (LCE) is
derived from volumes of lithium carbonate, lithium chloride, and spodumene
concentrate. These compounds are used as feedstock in downstream production.
(c) Full first quarter lithium carbonate equivalent production from Arcadium
was 17.2kt (20.0kt on a 100% basis) of which 5.6kt was produced since
completion of the acquisition in March (6.5kt on a 100% basis). Full first
quarter lithium carbonate equivalent shipments from Arcadium was 12.1kt
(15.2kt on a 100% basis) of which 3.8kt was shipped since completion of the
acquisition in March (5.0kt on a 100% basis).
SALT
Dampier Salt (a) 68 %
Western Australia
Salt production ('000 tonnes) 1,223 2,012 1,751 1,963 1,392
TITANIUM DIOXIDE SLAG
Rio Tinto Iron & Titanium 100 %
Canada and South Africa
(Rio Tinto share) (a)
Titanium dioxide slag ('000 tonnes) 223 269 261 222 218
(a) Quantities comprise 100% of Rio Tinto Fer et Titane and Rio Tinto's 74%
interest in Richards Bay Minerals' production. Ilmenite mined in Madagascar is
being processed in Canada.
Rio Tinto percentage interest shown above is at 31 March 2026. The data
represents production and sales on a 100% basis unless otherwise stated.
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