REG - Rio Tinto - Fourth quarter production results
21/01/2026 07:00
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RNS Number : 6805P Rio Tinto PLC 21 January 2026
Rio Tinto releases fourth quarter 2025 production results
21 January 2026
Standout production results with +8% CuEq production growth in 2025
Rio Tinto Chief Executive Simon Trott said: "Our operations delivered
exceptional production performance, both on a quarter-on-quarter and full year
basis, as we leverage our strong foundation of operating excellence and
project delivery across our portfolio.
"We achieved record quarterly iron ore production in the Pilbara, with a
strong recovery from the extreme weather interruptions earlier in the year. At
Simandou, we celebrated the major milestone of first shipment from the port; a
testament to our ability to deliver major growth projects.
"Record copper production continues following delivery of our Oyu Tolgoi
underground project, another demonstration of our unique and diverse project
capabilities.
"A step change in bauxite production through the year once again highlights
the ongoing maturation of our operational excellence.
"In lithium, we achieved production growth from our operations and in-flight
projects as planned in 2025, as we build out our high-quality portfolio with
discipline.
"Implementation of our stronger, sharper, simpler way of working continues,
and is delivering results and creating value."
1. Executive Summary
• Operational excellence: Copper equivalent (CuEq)(1) production
rose 8% YoY in 2025, with shipments up 5%, driven by the strong ramp-up of Oyu
Tolgoi, a record year for bauxite production and our world-class lithium
business.
• Iron ore: Pilbara operations achieved record Q4 production, +4%
YoY, and shipments, +7% YoY, while the exceptional development pace at
Simandou continued with the start of operations and first shipment in Q4.
• Aluminium: Production strength and agility demonstrated across the
aluminium value chain in 2025.
• Lithium: Achieved record quarterly production from our operating
assets in Argentina.
• Copper: Annual production grew 11% YoY, exceeding the top end of
our increased guidance range, driven by the successful ramp-up of Oyu Tolgoi,
where the underground development project is now complete.
Production(2) Q4 vs Q4 vs 2024 2025 guidance
2024
2025 2025
Pilbara iron ore shipments (100% basis) Mt 91.3 +7% 326.2 -1% 323 - 338
(at lower end)
Pilbara iron ore production (100% basis) Mt 89.7 +4% 327.3 - % NA
IOC(3) iron ore pellets and concentrate Mt 2.2 -14% 9.3 -1% 9.0 - 9.5
Bauxite Mt 15.4 0% 62.4 +6% >61 Mt
Alumina Mt 2.0 -1% 7.6 +4% 7.4 - 7.8
Aluminium(4) Mt 0.85 +2% 3.38 +3% 3.25 - 3.45
(at upper end)
Copper (consolidated basis) kt 240 +5% 883 +11% 860 - 875
Titanium dioxide slag Mt 0.2 -6% 1.0 -2% 1.0 - 1.2
(at lower end)
Boric oxide equivalent Mt 0.1 -6% 0.5 0% ~0.5
(1) Copper equivalent 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 Company of Canada.(4) Includes primary aluminium only.
2. Guidance
Production guidance
• 2025 guidance: met or exceeded for our Product Groups.
• 2026 guidance(1): unchanged from Capital Markets Day 2025
disclosures, as shown in the table below.
( )
Production and sales(2) Units 2026 guidance(1)
Total iron ore sales Mt(4) 343 - 366
Pilbara sales(3) (100% basis) Mt(4) 323 - 338
Simandou sales (100% basis) Mt(4) 5 - 10
IOC(5) sales (100% basis) Mt(4) 15 - 18
Copper production (consolidated)(6) kt 800 - 870
Aluminium & Lithium
Bauxite production Mt 58 - 61
Alumina production(7) Mt 7.6 - 8.0
Aluminium production(8) Mt 3.25 - 3.45
Lithium, LCE production kt 61 - 64
( )
(1) Guidance remains subject to weather impacts. (2) Rio Tinto share unless
otherwise stated. Our strategic reviews are advancing as planned, with the
next phase focused on identifying the best path to unlock value. As such, we
will no longer provide production guidance for Iron & Titanium, and
Borates, while this process is underway. (3) Pilbara iron ore guidance remains
subject to the timing of approvals for planned mining areas and heritage
clearances. (4) Wet metric tonnes. (5) Iron Ore Company of Canada. (6) Circa
10% YoY growth from operated assets. (7) QAL production now included on a 100%
basis for guidance. (8) Includes primary aluminium only.
( )
Unit cost guidance
• 2025 unit cost performance and 2026 guidance will be given in the
2025 full year results release on 19 February 2026.
( )
3. Group financial update
Expenditure on exploration and evaluation
• Pre-tax and pre-divestment expenditure on exploration and
evaluation charged to the profit and loss account in 2025 was $795 million,
compared with $935 million in 2024. Approximately 40% of the spend was by
Copper, 32% by central exploration, 19% by Iron Ore (which includes Iron Ore
Company of Canada), 8% by other operations and 1% by Aluminium & Lithium.
Qualifying expenditure on the Rincon project has been capitalised since 1 July
2024, accounting for most of the decrease in expense. ( )
4. Our markets
Global economy: remains resilient despite persistent shocks and quarterly
growth slowing, reflecting fading front-loaded trade flows and restrictive
monetary stances in several economies. Inflationary pressures continue to ease
globally.
Chinese economy: continues to be driven by production and exports, while
investment and consumption moderated in Q4 and the property market remains
weak. Policy priorities include advanced manufacturing, technology innovation
and green transition, while near-term stimulus remains modest beyond
infrastructure support. Trade diversification continues and export composition
is shifting towards intermediate and capital goods, semiconductors and EV
value chains, alongside offshore manufacturing investments.
US economy: showed resilience despite Q4 government shutdown. Financial
conditions have loosened as borrowing costs declined, credit spreads narrowed
and equity markets strengthened, all of which have supported financing
activity and bolstered business and household confidence.
Iron ore
• China's domestic steel consumption was stable QoQ, while its net
export run-rates (including semi-finished steel) remained well above 120Mtpa.
• Total seaborne iron ore shipments rose 4% QoQ and 2% YoY, driven
by the non-major producers, whose shipments rose ~10% both QoQ and YoY, while
supply from the majors was flat YoY. China's portside inventories at 47 ports
increased by 21Mt during Q4 to 166Mt.
Copper
• London Metal Exchange (LME) prices surged through Q4 to close the
year at a high of $5.67/lb ($12,500/t), driven by US interest rate cuts,
positive sentiment around AI-driven electricity demand and continued supply
disruptions.
• Chicago Mercantile Exchange (CME) prices continued to trade above
LME prices, averaging ~10c/lb ($216/t) higher through Q4(1), due to the risk
of copper cathode import tariffs. As a result, the US continues to import more
copper than is required to meet demand and CME copper inventories are now
above 400kt, compared to 85kt at the end of 2024.
• The copper concentrate market remained extremely tight in Q4, with
spot treatment and refining charges plunging to -$68/t and the 2026 annual
benchmark settling at $0/t, both all-time lows.
Aluminium
• The LME Q4 average price reached its highest level since Q2 2022,
supported by increasing expectations of a tighter global aluminium balance in
H1 2026, a weaker US dollar and rally in copper prices. Global primary
aluminium production showed marginal growth in the first eleven months of
2025, which, coupled with low inventory levels, provided upward momentum to
the price.
• In Q4, the US aluminium market premium reached its highest level,
on a duty-paid basis, while on a duty-unpaid basis reached the maximum since
Q2 2022, on lower levels of imports, the return of contango on LME and
continuous de-stocking. European market premiums rose with some demand
front-loading before the Carbon Border Adjustment Mechanism (CBAM) definitive
phase, while Japan's market premium began recovering on anticipated supply
tightening.
• Australian FOB alumina prices continued to fall in Q4 due to
higher production in Indonesia and China, and elevated stock levels in China.
Refineries in the upper quartile of the cost curve are unprofitable at current
price levels, based on third-party data.
• Chinese bauxite spot import prices continued to decline in Q4 on
higher seaborne supply to China, primarily from Guinea, where idled mines show
signs of restarting at the end of the wet season.
Lithium
• The lithium carbonate price increased 55% in Q4 fuelled by growing
optimism for battery energy storage systems demand and strong shipment
activity out of China. Global electric vehicle sales continued to grow at a
rapid pace, reinforcing confidence in the sector. This momentum has prompted
broad upgrades to lithium demand expectations.
(1) CME front month vs LME cash price.
Borates
• Market price was stable in Q4, with supply and demand balanced
following market disruptions earlier in the year. Demand in China and the USA
continued to be stable.
Titanium dioxide
• Demand across key TiO(2) downstream sectors remained soft amid
persistent macro headwinds, particularly in property and construction.
Elevated inventories and ongoing margin pressures have compelled pigment
producers to scale back TiO(2) feedstock purchases. Following weak demand,
some TiO(2) feedstock supply was curtailed in 2025; supply is estimated to
have declined ~5% year-on-year.
Index prices Start of Q4 End of Q4 % change Start - End Q4 Q3 2025 average Q4 2025 average % change QoQ 2024 average 2025 average % change YoY
(01/10/25) (31/12/25)
Iron ore ($/dmt CFR China)(1) 104 109 +5% 102 106 +4% 109 102 -6%
Copper (LME spot, c/lb) 466 567 +22% 444 503 +13% 415 451 +9%
Aluminium (LME spot, $/t) 2,684 2,968 +11% 2,618 2,827 +8% 2,419 2,632 +9%
Lithium carbonate (spot, $/t CIF China, Japan & Korea)(2) 9,380 14,500 +55% 9,042 10,534 +17% 13,083 9,451 -28%
(1) Monthly average Platts (CFR) index for 62% iron fines. This is reflective
of the pricing basis before we introduced the new product strategy (see Iron
Ore section for further details).
(2) Fastmarkets index for Lithium carbonate min 99.5% Li(2)CO(3) battery
grade.
Average realised prices achieved for our major commodities
Units H1 2025 H2 2025 2025 2024
Pilbara iron ore FOB, $/wmt 82.5 83.1 82.8 89.6
Pilbara iron ore(1) FOB, $/dmt 89.7 90.3 90.0 97.4
Aluminium(2) Metal $/t 3,125 3,504 3,318 2,834
Copper(3) US c/lb 436 479 457 422
IOC pellets FOB $/wmt 130 121 126 144
(1) Assuming 8% moisture.
(2) LME plus all-in premiums (product and market). The US Midwest premium
adapted to tariff levels in 2025, fully compensating for the 50% tariff after
an initial period. Tariff costs are shown on page 9.
(3) Average realised price for all units sold. Realised price does not include
the impact of the provisional pricing adjustments, which positively impacted
revenues in 2025 by $758 million (2024 negative impact of $92 million).
5. Iron Ore
Pilbara operations
Rio Tinto share of production (Wet million tonnes) Q4 vs Q4 vs Q3 vs
2024
2025
2025 2025 2024
Pilbara Blend and SP10 Lump(1) 25.6 +9% +6% 92.1 +6%
Pilbara Blend and SP10 Fines(1) 36.0 +2% +8% 130.2 0%
Robe Valley Lump 1.7 -8% +1% 6.6 +2%
Robe Valley Fines 2.4 -12% +25% 8.6 -17%
Yandicoogina Fines (HIY) 11.7 +12% +8% 42.8 -5%
Total Pilbara production 77.3 +5% +8% 280.3 +1%
Total Pilbara production (100% basis) 89.7 +4% +7% 327.3 0%
Rio Tinto share of shipments (Wet million tonnes) Q4 vs Q4 vs Q3 vs
2024
2025
2025 2025 2024
Pilbara Blend Lump 19.1 +46% +8% 57.7 +10%
Pilbara Blend Fines 34.6 +48% +4% 108.3 +11%
Robe Valley Lump 1.4 -9% +3% 5.2 0%
Robe Valley Fines 2.6 -14% +17% 9.7 -17%
Yandicoogina Fines (HIY) 12.4 +17% +15% 43.2 -6%
SP10 Lump(1) 3.6 -50% +24% 23.0 +2%
SP10 Fines(1) 5.0 -63% +58% 32.0 -22%
Total Pilbara shipments(2) 78.7 +9% +10% 279.1 +1%
Total Pilbara shipments (100% basis)(2) 91.3 +7% +8% 326.2 -1%
Total Pilbara shipments (consolidated basis)(2, 3) 80.6 +9% +10% 286.5 +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) Shipments 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.
• Q4 production: Record quarterly run rate of around 360 Mtpa driven
by continued investment in mine health and productivity, and favourable
weather.
• Q4 shipments: Record quarterly run rate of around 360 Mtpa
supported by strong rail and port outload performance.
• Product strategy: SP10 sales were 10.5 Mt (100% basis) in Q4, a
50% reduction year-on-year, reflecting the ongoing execution of the new
product strategy.
• Agreement Modernisation:
◦ We signed
(https://www.riotinto.com/en/news/releases/2025/karlka-nyiyaparli-aboriginal-corporation-and-rio-tinto-sign-updated-native-title-agreement)
an updated Agreement with the Nyiyaparli People to strengthen ways of working
together, deliver long-term benefits for the Nyiyaparli People, and provide
Rio Tinto with a clear framework for engaging on mine development on
Nyiyaparli Country.
◦ We also signed
(https://www.riotinto.com/en/news/releases/2025/yinhawangka-aboriginal-corporation-and-rio-tinto-sign-interim-modernised-agreement)
an Interim Modernised Agreement with the Yinhawangka People, establishing a
pathway to a fuller modernised agreement that will govern how Rio Tinto
operates on Yinhawangka Country for the long term.
• Full year: Mine operations bounced back from the cyclone impacts
in Q1, achieving record rates since April and resulting in Pilbara mine
production of 327.3 Mt (100% basis), stable year-on-year. With the cyclone
recovery constraining the ports for most of H1, strong mine performance
created surplus stocks enabling record shipping in H2. This allowed the system
to recover 9 of the 13 Mt of cyclone losses; full year shipments were 326.2 Mt
(100% basis), 1% lower year-on-year.
• Unlocking additional value from existing infrastructure:
◦ We reached an agreement with our Hope Downs Joint Venture partner
to access an additional 400 Mt(1) of Resource utilising existing
infrastructure.
◦ We announced we are exploring opportunities with BHP to mine up to
200 Mt of iron ore at our neighbouring Yandicoogina and Yandi iron ore
operations to extend mine life and create additional value.
• Q4 sales: 10% 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.
• Q4 portside sales in China: 2.0 Mt (9.5 Mt in Q4 2024)
◦ 95% of our portside sales were either screened or blended in
Chinese ports.
◦ End-December inventory levels at portside were 6.4 Mt, including
3.3 Mt of Pilbara product.
• Achieved average pricing in 2025 was $82.8 per wet metric tonne
($89.6 in 2024) on an FOB basis (equivalent to $90.0 per dry metric tonne,
with an 8% moisture assumption). This compares to the average price for the
monthly average Platts index for 62% iron fines converted to a FOB basis of
$92.5 per dry metric tonne.
(1) The approximately 400 Mt is part of the Texas East deposit and was
included in the Mineral Resources reported in accordance with the JORC Code
and the ASX Listing Rules in Rio Tinto's 2024 Annual Report released to the
ASX on 20 February 2025 and available at riotinto.com. This 400 Mt comprises
approximately 5% of the 5.8 Bt @ 62.4% Fe Inferred Mineral Resources of
Brockman Ore and approximately 4% of the 2.6 Bt @ 56.7% Fe Inferred Mineral
Resources of Brockman Process Ore. The Competent Persons responsible for the
information in in the 2024 Annual Report that relates to Brockman Mineral
Resources and Brockman Process Ore Mineral Resources are Natalie Brajkovich,
Malcom Judge, Elizabeth Barron, each a Member of the Australasian Institute of
Mining and Metallurgy (MAusIMM) and Phil Savory, a Fellow of the Australasian
Institute of Mining and Metallurgy (FAusIMM). Rio Tinto confirms that it is
not aware of any new information or data that materially affects the
information included in the 2024 Annual Report, that all material assumptions
and technical parameters underpinning the estimates in the 2024 Annual Report
continue to apply and have not materially changed, and that the form and
context in which the Competent Persons' findings are presented have not been
materially modified. Mineral Resources are reported exclusive of Ore Reserves.
Mineral Resources are reported on a 100% basis.
Iron Ore Company of Canada (IOC)
Production (Wet million tonnes) Q4 vs Q4 vs Q3 2025 vs
2024
2025
2025 2024
Iron ore pellets and concentrate (Rio Tinto Share) 2.2 -14% -7% 9.3 -1%
Iron ore pellets and concentrate (100%) 3.7 -14% -7% 15.9 -1%
• Q4 production: lower due to pit health and mine equipment
reliability challenges which resulted in reduced ore feed to the concentrator.
• Q4 sales: volumes reflect lower concentrator feed.
• Rail infrastructure: annual rail haulage set a record at 37.8 Mt,
4% higher than in 2024, driven by continued operational improvements to meet
increasing third party demand and IOC material.
Simandou
Rio Tinto production (Wet million tonnes)(1, 2) Q4 vs Q4 vs Q3 2025 vs
2024
2025
2025 2024
Fines production( ) (Rio Tinto share) 1.0 NA NA 1.0 NA
Fines production( ) (100%) 2.3 NA NA 2.3 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. 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.
• Q4: First ore from the SimFer mine commenced train loading in
October, with first shipment from the WCS port in December 2025.
• As reported in Q3, stockpiles have continued to build at the
SimFer mine gate, as expected. In total, 2.3 Mt of crushed iron ore was
produced in 2025 (100% SimFer), using temporary crushers, with ~2.1 Mt of
crushed ore stockpiled at the mine gate at the end of Q4, ready for loading.
( )
6. Aluminium & Lithium
Aluminium
Rio Tinto share of production ('000 tonnes) Q4 vs Q4 vs Q3 vs
2024
2025
2025 2025 2024
Bauxite 15,397 0% -6% 62,400 +6%
Bauxite third party shipments 10,532 -1% -9% 43,087 +5%
Alumina(1) 1,969 -1% +4% 7,593 +4%
Aluminium 852 +2% -1% 3,380 +3%
Recycled aluminium 62 +7% -9% 269 +2%
(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 this report for 2025; however, we will be including the
additional output from 2026 and reporting QAL on a 100% basis.
Bauxite
• Q4: production remained robust after a record Q3, with Amrun
sustaining its high plant utilisation rates. Lower production at Gove due to
scheduled maintenance.
• Full year 2025: new annual production record of 62.4 Mt reflected
the ongoing uplift from the Safe Production System and stable operating
performance.
Alumina
• Q4: operations performed well with improving plant performance at
Yarwun and Alumar delivering solid results. Vaudreuil returned to normal
operations post a planned shutdown in Q3.
• At Yarwun, we announced
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-to-reduce-production-at-yarwun-alumina-refinery-to-extend-operational-life)
that we will reduce production by 40% from October 2026, to extend the
operation's life until 2035 and allow time to explore further life-extension
and modernisation options.
Aluminium
• Q4: solid performance as the group continued to adapt to market
and supply chain dynamics, maintaining output near historical highs.
◦ NZAS: achieved full production rates in Q4, after operations
ramped up in Q3 post the call from Meridian Energy to reduce electricity usage
by 50MW which ended on 15 June 2025.
◦ Kitimat: stable production despite operating with fewer pots than
targeted, as we continue to adapt to effects of lower water levels.
• At the Bell Bay smelter in Tasmania, we secured a one year
extension (to 31 December 2026) of our hydro power supply contract in October
2025 (as announced at our Capital Markets Day 2025). We continue regular
discussions and engagement with Hydro Tasmania and both Tasmanian and Federal
Governments to secure a new power agreement.
$/tonne 2025 2024 2025 vs 2024
Average realised prices including premiums for value-added products (VAP) 3,318 2,834 +17%
Average LME price 2,632 2,419 +9%
Average product premiums for VAP sales(1) 336 295 +14%
(1) Our VAP sales were 42% of primary metal sold in 2025 (2024: 46%).
H1 2025 H2 2025 2025
Total RTA shipments - US destination, kt 723 630 1,353
Total RTA tariff cost, $m 321 709 1,030
Average mid-west premium duty paid(1), $/tonne 855 1,731 1,301
Average realised tariff costs - US destination, 444 1,126 761
$/tonne
(1) Mid-west premium duty paid applies to approximately 50% of our total
volumes in 2025 (59% in 2024). The US Midwest premium adapted to tariffs
level in 2025, fully compensating for the 50% tariff after an initial period.
Recycled aluminium
• YoY: solid performance with stable demand for recycled products,
as US volumes remained robust and Canadian shipments were stabilising.
Lithium
Rio Tinto share of production ('000 tonnes) Q4 vs Q4 vs Q3 2025 vs
2024
2025
2025 2024
Total lithium carbonate equivalent (LCE) production(1,2) 15 NA +23% 57 NA
(1) LCE is derived from lithium carbonate, lithium chloride and spodumene
concentrate. These compounds are used as feedstock in downstream production.
(2) Q1 2025 LCE production from Arcadium was 17kt of which 6kt was produced
since completion of the acquisition in March. Accordingly of the 57kt LCE
production in 2025, 46kt was attributable to Rio Tinto.
(• ) Q4: strong operational performance.
◦ Lithium hydroxide: output rose as Bessemer City achieved record
quarterly production.
◦ Lithium carbonate: record quarterly production at both Fenix and
Olaroz attributed to solid operational performance and seasonality uplift
(with Q4 being the highest solar evaporation period).
▪ Fenix operated at full capacity (versus Q3 scheduled maintenance).
Expansion 1A (with mechanical evaporation) completed its ramp-up as planned
and was operating at full capacity in Q4.
▪ Olaroz stage 1 ran at full capacity as planned, and stage 2
performed in line with expectations.
( )
7. Copper
Rio Tinto production(1) ('000 tonnes) Q4 vs Q4 vs Q3 vs
2025
2024
2025
2025 2024
Copper
Kennecott - Refined metal(2) 38 -31% +196% 134 -31%
Escondida - Metal in concentrates 84 -10% -5% 348 +6%
Escondida - Refined metal 14 +5% 0% 56 +2%
Oyu Tolgoi - Metal in concentrates 104 +57% +16% 345 +61%
Total copper production (consolidated basis(1)) 240 +5% +18% 883 +11%
(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 4 thousand tonnes of cathode produced from purchased
concentrate in Q4 2025 (39 thousand tonnes for full year 2025). 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
• Q4 / YoY: performance continues to improve as we successfully
navigate geotechnical conditions.
◦ Higher production in Q4 following the successful completion of the
planned 21-day concentrator shutdown in September and 45-day smelter shutdown
in mid-October. Higher concentrator throughput and improved grades more than
offset reduced recoveries.
◦ Lower YoY production of refined metal due to ramp-up through
October, following completion of smelter shutdown, and a strong prior year
performance.
Escondida
• Q4: lower production driven by a reduction in concentrator output
and head grades, as a result of mine sequencing, partly offset by further
improvement in recoveries.
• YoY: lower production driven by a reduction in head grades from
mine sequencing, partially offset by higher throughput and recovery rates.
Refined copper increased 5%, driven by 11% higher sulphide leach cathode
production from irrigation initiatives, partially offset by a 10% decrease in
Full SaL(1) cathodes due to a scheduled shutdown.
Oyu Tolgoi
• Q4: we achieved another record quarter for copper production
following the successful planned concentrator shutdown in September. Higher
production was driven by the continued underground ramp-up, higher head grades
and recovery rates. Underground material movement achieved record daily
throughput of 52ktpd and averaged 42ktpd in December.
• YoY: rising contribution from higher grade underground material,
supported by the now fully operational conveyor to surface, combined with
higher grade from the open pit. Full year copper production increased by 61%
YoY, with a 121% increase in gold.
• 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).
• Continuing engagement with Government of Mongolia including for
the Entrée licence transfer. We 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) Q4 vs Q4 vs Q3 vs
2024
2025
2025 2025 2024
Borates - B(2)O(3) content 124 -6% -3% 502 0%
Titanium dioxide slag - TiO(2) 222 -6% -15% 975 -2%
Rio Tinto share of production ('000 carats) Q4 vs Q4 vs Q3 vs
2024
2025
2025 2025 2024
Diamonds 1,112 +43% -2% 4,429 +61%
As announced
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-announces-operating-model-and-executive-team-updates-to-unlock-additional-shareholder-value)
on 27 August 2025, our Borates and Iron & Titanium businesses have now
moved to the Chief Commercial Officer's portfolio for strategic review. The
next phase is focused on testing the market for these assets. Throughout this
review process, we will continue to focus on running these businesses safely
and profitably to meet customer commitments.
Borates
• Q4: Lower operating rates due to planned maintenance which is now
complete.
• YoY: Stable operating performance.
Iron & Titanium
• Q4: 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: Western Range $1.3bn • Planned production ramp-up through 2026.
Location: WA, Australia (Rio Tinto share)(1)
Ownership: Rio Tinto (54%) and China Baowu Steel Group Co. Ltd (46%)
Capacity: 25 Mtpa
Approval: Sept 2022
First production: March 2025
To note: The project includes construction of a primary crusher and an 18
kilometre conveyor connection to the Paraburdoo processing plant.
Project: Brockman (Brockman Syncline 1) $1.8bn • Bulk earthworks progressed during the quarter.
• Major contract for fixed plant construction awarded in Q4.
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 • Main construction activities continue to progress in line with
plan, including bulk earthworks clearing and installation of tunnel segments
(Rio Tinto share) over the rail line.
Location: WA, Australia
Ownership: Rio Tinto (50%) and Hancock Prospecting (50%)
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 • State Agreement approvals were received in October 2025, allowing
mobilisation and the start of construction activities in November.
(Rio Tinto share)
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 • We achieved first ore shipment in December. Ore is being railed
from the SimFer mine to the main rail line via the SimFer rail spur and
Location: Guinea, Africa (Rio Tinto shipped through the WCS port while construction of the SimFer port is
finalised. This marks the start of commissioning tests of the common rail to
SimFer mine ownership: SimFer (85%), Government of Guinea (GoG) (15%) share) port infrastructure. Commissioning of the common rail to port infrastructure
will be a complex process, and once complete, around the end of Q1 2026, we
SimFer mine capacity: 60 Mtpa(2) (27 Mtpa RT share) expect a 30 month ramp-up to full capacity.
Approval: July 2024 • Non-managed infrastructure - our partners confirm that
construction is progressing well and is on track.
Start date: first shipment in December 2025
• SimFer mine(5) is progressing to plan, with 62% completed - bulk
To note: Investment in the Simandou high-grade iron ore project in Guinea in earthworks and permanent process facilities construction continue. First ore
partnership with CIOH, a Chinalco-led consortium (the SimFer joint venture) is expected through the permanent crushing facilities in H2 2026, on schedule
and co-development of the rail and port infrastructure with Winning Consortium and aligned with plan. Ore continues to be crushed and stockpiled through the
Simandou(3) (WCS), Baowu and the Republic of Guinea (the partners) for the temporary crushers.
export of up to 120 Mtpa of iron ore mined by SimFer's and WCS's respective
mining concessions.(4) The SimFer joint venture(5) will develop, own and • SimFer rail spur is mechanically complete and in operation. Full
operate a 60 Mtpa(2) mine in blocks 3 & 4. WCS will construct the rail commissioning is targeted for Q1 2026.
project's ~536 kilometre shared dual track main line, a 16 kilometre spur
connecting its mine to the mainline as well as the WCS barge port, while • SimFer port continues to advance ahead of plan, with 66% completed
SimFer will construct the ~70 kilometre spur line, connecting its mining - fabrication of the transhipment vessels (TSV) is continuing with first TSV
concession to the main rail line, and the transhipment vessel (TSV) port. under-construction successfully launched on 30 December 2025 in China. SimFer
port commissioning expected in Q1 2027.
• Workforce across all the SimFer scope of mine, rail and port has
reached 26,700 with 82% Guinean participation.
Aluminium
Project: Low-carbon AP60 aluminium smelter $1.3bn • Construction activities progressed to plan, with lining and
pot-to-pot module installations completed in both buildings. Energisation of
Location: Quebec, Canada the first substations successfully completed.
Ownership: Rio Tinto (100%) • First hot metal and commissioning remains on track to be completed
by Q1 2026.
Capacity: Project will add 96 new AP60 pots, increasing AP60 capacity by
160,000 tonnes of primary aluminium per annum
Approval: June 2023
Planned start date: First hot metal and commissioning is expected by Q1 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 (previously Q4 2025).
Lithium
Project: Rincon expansion $2.5bn • Starter plant: commissioning completed and start-up in progress,
aiming to reach full capacity by end 2026.
Location: Salta province, Argentina
• Construction of full scale plant remains on track.
Ownership: Rio Tinto (100%)
• Site infrastructure: concrete batch plant commenced operations in
Capacity: 60ktpa (battery grade lithium carbonate) October, supporting first concrete pour for the process plant and launch of
the 12-month concrete program.
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(6) 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 with commissioning at 60%.
• 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 • Project is mechanically complete with commissioning at 40%.
Location: Catamarca province, Argentina • First 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 • Project work progresses at Bécancour hydroxide plant in Quebec.
Engineering is now complete with construction at 60%. Commissioning planned to
(Rio Tinto share) commence in 2026 ahead of first production in 2028.
Location: Quebec, Canada • Whabouchi and Galaxy mines: we are undertaking a strategic
business and capital discipline review with our partners in Canada to decide
Ownership: Rio Tinto (50%), Investissement Québec (50%) which of the two mines we will develop. We expect to make a decision in the
first half of 2026, to ensure an integrated solution for spodumene supply to
Capacity: 28ktpa LCE (100%) Bécancour is available by 2028.
Planned first production: 2028
To note: product is integrated lithium hydroxide.
Copper
Project: Oyu Tolgoi underground mine $7.06bn • Underground project development completed during Q4.
Location: Mongolia • Following the completion of the concentrator conversion and
Primary Crusher #2 in Q3, efforts during this period focused on closeout and
Ownership: Rio Tinto (66%), Government of Mongolia (34%) demobilisation activities. These works are progressing as planned.
Capacity: from both the open pit and underground mines, average of ~500kt(7) • Project remains focused on safe handover to operations.
per year from 2028 to 2036.
Approval: 2016
First production: 2024, ramp-up till 2028
To note: Oyu Tolgoi is set to become the world's 4th largest copper mine by
2030
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: Kennecott North Rim Skarn (NRS) underground development(8) $0.6bn • First production from NRS occurred in December 2025 with ramp up
from main stoping ramp sequence in Q1 2026.
Location: Utah, United States
Ownership: Rio Tinto (100%)
Capacity: around 250 kt through to 2033(9)
Approval: June 2023
First production: Q4 2025
To note: Original approval for $0.5bn with a further $0.1bn approved in
December 2024 for additional infrastructure and geotechnical controls.
1. Rio Tinto share of the Western Range capital cost includes 100% of
funding costs for Paraburdoo plant upgrades.
2. 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.
3. 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%.
4. 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.
5. 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.
6. 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.
7. The ~500 thousand tonne per year 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 Australian
Securities Exchange (ASX) dated 11 July 2023 "Investor site visit to Oyu
Tolgoi copper mine, Mongolia". All material assumptions underpinning that
production target continue to apply and have not materially changed.
8. 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.
9. 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 • Four of the five major replacement mines are currently ramping up
or under construction.
Ownership: Rio Tinto (100%)
• The Greater Nammuldi extension project continues to be optimised
Capacity: over the medium term, our Pilbara system capacity remains between with a pathway to first ore in 2028(1).
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
replacement mines over the next five years.
Iron Ore: Rhodes Ridge
Location: WA, Australia • In December 2025, the Rhodes Ridge Joint Venture approved a $191
million (Rio Tinto share $96 million) feasibility study to progress
Ownership: Rio Tinto (50%), Mitsui & Co. (40%), AMB Holdings Pty Ltd development of the first phase of the project.
(10%)(2)
• The joint venture partners (Rio Tinto 50%, Mitsui 40% and AMB
Capacity: 40 to 50 Mtpa Holdings 10%) intend to invest a further $146 million on exploration between
2026 and 2028 as part of ongoing study phases.
First ore: end of decade
• The feasibility study is expected to conclude in 2029.
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 is scheduled to commence in Q1 2026
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 will review the outcome of those studies and are
Mitsubishi Corporation and other international and local industry partners to expected to consider next steps for further development of the project during
study a low carbon aluminium greenfield opportunity in Finland. As the Q1 2026.
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 dates: H1 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.
Location: Serbia • Project has been moved to care and maintenance.
Ownership: Rio Tinto (100%)
To note: Development of the greenfield Jadar lithium-borates project in Serbia
to include an underground mine with associated infrastructure and equipment,
as well as a beneficiation chemical processing plant.
Project Status
Copper: Resolution
Location: Arizona, US • On 20 June 2025, the United States Forest Service (USFS)
republished the Final Environmental Impact Statement (FEIS) and draft Record
of Decision (ROD). Absent a Court order, this publication would have enabled
completion of the congressionally mandated land exchange between Resolution
Ownership: Rio Tinto (55%), BHP (45%) Copper and the federal government. But, on 18 August 2025, as the land
exchange neared completion, the Ninth Circuit Court of Appeals issued an
To note: proposed underground copper mine in the Copper Triangle, in Arizona. administrative order to enjoin the land exchange.
• Oral arguments in the Ninth Circuit Court of Appeals were
completed on 7 January 2026. A decision is anticipated in 2026.
• Resolution continues to seek to demonstrate to the Courts why the
land exchange should proceed as directed by Congress. The land exchange will
enable further underground mine development and place thousands of acres of
ecologically and culturally significant land into permanent conservation.
Copper: Winu
Location: WA, Australia • The Joint Venture agreement with SMM was completed on schedule in
Q4.
• The pre-feasibility study with an initial processing capacity
Ownership: Rio Tinto (70%), Sumitomo Metal Mining (SMM) (30%) development of up to 10 Mtpa was also completed in Q4.
To note: In late 2017, we discovered copper-gold mineralisation at the Winu • The project has advanced to a feasibility study, which is
project (Paterson Province in Western Australia). In 2021, we reported our currently in progress and scheduled for completion by the end of 2026.
first Indicated Mineral Resource. The pathway remains subject to regulatory
and other required approvals. Project Agreement negotiations with Nyangumarta • The Environmental Review Document has been submitted to the
and the Martu Traditional Owner Groups remain our priority. Western Australian EPA for assessment in collaboration and support with both
Traditional Owner Groups.
Copper: La Granja
Location: Cajamarca, Peru • Evaluation of drill results is underway - results are expected in
Q1 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 $105 million. It will invest up to a further $546 million into the
joint venture to sole fund capital and operational costs to take the project
through a feasibility study and toward development.
(1) All necessary State and Federal Government approvals have been received.
The project is still subject to Traditional Owner consultation.
(2) 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, Canada and Rwanda Chile and Finland removed
Copper Nuevo Cobre, Chile Greenfield: Angola, Australia, Chile, China, Colombia, Kazakhstan, Laos, Peru, NA
Papua New Guinea, Serbia*, USA and Zambia
Comita, Colombia
Other Chiri, Angola (diamonds) Texas (potash), Canada, removed from Advanced projects
Kasiya*, Malawi (titanium)
(*) Non-operated.
• Overall, Rio Tinto has a strong portfolio of exploration projects
with activity in 15 countries across six commodities. During 2025, the
portfolio has been further simplified, including decisions to cease
exploration activity in Brazil and Finland, and any lithium exploration
projects without remaining commitments.
12. Fourth quarter public releases
1 October 2025 |
(https://www.riotinto.com/en/news/releases/2025/notification-of-potential-retirement-of-gladstone-power-station)
Notification of potential retirement of Gladstone Power Station
(https://www.riotinto.com/en/news/releases/2025/notification-of-potential-retirement-of-gladstone-power-station)
7 October 2025 |
(https://www.riotinto.com/en/news/releases/2025/robe-river-joint-venture-to-invest-733-million-to-extend-west-angelas-iron-ore-mine-in-western-australia)
Robe River Joint Venture to invest $733 million to extend West Angelas iron
ore mine in Western Australia
(https://www.riotinto.com/en/news/releases/2025/robe-river-joint-venture-to-invest-733-million-to-extend-west-angelas-iron-ore-mine-in-western-australia)
14 October 2025 |
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-donates-1-million-to-support-flood-relief-efforts-in-arizona)
Rio Tinto donates $1 million to support flood relief efforts in Arizona
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-donates-1-million-to-support-flood-relief-efforts-in-arizona)
24 October 2025 | Rio Tinto Board
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-board-changes-648a3cf79)
changes
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-board-changes-648a3cf79)
27 October 2025 |
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-and-chinas-state-power-investment-corporation-launch-battery-swap-truck-trial-fleet-at-oyu-tolgoi-mine)
Rio Tinto and China's State Power Investment Corporation launch battery swap
truck trial fleet at Oyu Tolgoi mine
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-and-chinas-state-power-investment-corporation-launch-battery-swap-truck-trial-fleet-at-oyu-tolgoi-mine)
28 October 2025 |
(https://www.riotinto.com/en/news/releases/2025/tomago-aluminium-begins-employee-consultation-on-future-operations)
Tomago Aluminium begins employee consultation on future operations
(https://www.riotinto.com/en/news/releases/2025/tomago-aluminium-begins-employee-consultation-on-future-operations)
28 October 2025
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-ioc-invests-in-equitable-access-to-healthcare-with-50000-donation-to-hope-air)
|
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-ioc-invests-in-equitable-access-to-healthcare-with-50000-donation-to-hope-air)
Rio Tinto IOC invests in equitable access to healthcare with $50,000 donation
to Hope Air
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-ioc-invests-in-equitable-access-to-healthcare-with-50000-donation-to-hope-air)
1 November 2025 |
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-and-canada-growth-fund-announce-transaction-to-advance-canadian-production-of-scandium)
Rio Tinto and Canada Growth Fund announce transaction to advance Canadian
production of scandium
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-and-canada-growth-fund-announce-transaction-to-advance-canadian-production-of-scandium)
11
(https://www.riotinto.com/en/news/releases/2025/simandou-partners-celebrate-start-of-operations)
November 2025 | Simandou partners celebrate start of operatio
(https://www.riotinto.com/en/news/releases/2025/simandou-partners-celebrate-start-of-operations)
ns
(https://www.riotinto.com/en/news/releases/2025/simandou-partners-celebrate-start-of-operations)
13
(https://www.riotinto.com/en/news/releases/2025/elysis-achieves-breakthrough-with-commercial-size-cell)
November 202
(https://www.riotinto.com/en/news/releases/2025/elysis-achieves-breakthrough-with-commercial-size-cell)
5
(https://www.riotinto.com/en/news/releases/2025/elysis-achieves-breakthrough-with-commercial-size-cell)
|
(https://www.riotinto.com/en/news/releases/2025/elysis-achieves-breakthrough-with-commercial-size-cell)
ELYSIS achieves breakthrough with commercial-size cell: a first in aluminium
production using the inert anode technology
(https://www.riotinto.com/en/news/releases/2025/elysis-achieves-breakthrough-with-commercial-size-cell)
14 November 2025
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-signs-new-wind-power-deal-for-kennecott)
|
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-signs-new-wind-power-deal-for-kennecott)
Rio Tinto signs new wind power deal for Kennecott
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-signs-new-wind-power-deal-for-kennecott)
17 November 2025
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-partners-with-calix-to-test-low-emissions-steel-making-in-western-australia-pauses-bioiron)
|
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-partners-with-calix-to-test-low-emissions-steel-making-in-western-australia-pauses-bioiron)
Rio Tinto partners with Calix to test low-emissions steel making in Western
Australia, pauses BioIron
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-partners-with-calix-to-test-low-emissions-steel-making-in-western-australia-pauses-bioiron)
18 November 2
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-to-reduce-production-at-yarwun-alumina-refinery-to-extend-operational-life)
025 |
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-to-reduce-production-at-yarwun-alumina-refinery-to-extend-operational-life)
Rio Tinto to reduce production at Yarwun Alumina Refinery to extend
operational life
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-to-reduce-production-at-yarwun-alumina-refinery-to-extend-operational-life)
25 November 2025 |
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-strengthens-support-for-organisations-responding-to-gender-based-violence-across-canada)
Rio Tinto strengthens support for organisations responding to gender-based
violence across Canada
(https://www.riotinto.com/en/news/releases/2025/rio-tinto-strengthens-support-for-organisations-responding-to-gender-based-violence-across-canada)
2
(https://www.riotinto.com/en/news/releases/2025/karlka-nyiyaparli-aboriginal-corporation-and-rio-tinto-sign-updated-native-title-agreement)
December
(https://www.riotinto.com/en/news/releases/2025/karlka-nyiyaparli-aboriginal-corporation-and-rio-tinto-sign-updated-native-title-agreement)
2025 |
(https://www.riotinto.com/en/news/releases/2025/karlka-nyiyaparli-aboriginal-corporation-and-rio-tinto-sign-updated-native-title-agreement)
Karlka Nyiyaparli Aboriginal Corporation and Rio Tinto sign updated Native
Title Agreement
(https://www.riotinto.com/en/news/releases/2025/karlka-nyiyaparli-aboriginal-corporation-and-rio-tinto-sign-updated-native-title-agreement)
4 December 2
(https://www.riotinto.com/en/news/releases/2025/stronger-sharper-and-simpler-rio-tinto-to-deliver-leading-returns)
025 |
(https://www.riotinto.com/en/news/releases/2025/stronger-sharper-and-simpler-rio-tinto-to-deliver-leading-returns)
Stronger, sharper and simpler Rio Tinto to deliver leading returns
(https://www.riotinto.com/en/news/releases/2025/stronger-sharper-and-simpler-rio-tinto-to-deliver-leading-returns)
4 December 2025 |
(https://www.riotinto.com/en/news/releases/2025/rio-tintos-nuton-technology-produces-first-copper)
Rio Tinto's Nuton technology produces first copper
(https://www.riotinto.com/en/news/releases/2025/rio-tintos-nuton-technology-produces-first-copper)
5 December 2025 |
(https://www.riotinto.com/en/news/releases/2025/bhp-and-rio-tinto-welcome-first-caterpillar-battery-electric-haul-trucks-to-the-pilbara)
BHP and Rio Tinto welcome first Caterpillar battery-electric haul trucks to
the Pilbara
(https://www.riotinto.com/en/news/releases/2025/bhp-and-rio-tinto-welcome-first-caterpillar-battery-electric-haul-trucks-to-the-pilbara)
8 December 202
(https://www.riotinto.com/en/invest/presentations/2025/lithium-deep-dive) 5
(https://www.riotinto.com/en/invest/presentations/2025/lithium-deep-dive) | Li
(https://www.riotinto.com/en/invest/presentations/2025/lithium-deep-dive)
thium
(https://www.riotinto.com/en/invest/presentations/2025/lithium-deep-dive) Deep
Dive and sit
(https://www.riotinto.com/en/invest/presentations/2025/lithium-deep-dive) e
(https://www.riotinto.com/en/invest/presentations/2025/lithium-deep-dive)
visit, Argentina
(https://www.riotinto.com/en/invest/presentations/2025/lithium-deep-dive)
8 December 2025 |
(https://www.riotinto.com/en/news/releases/2025/rio-tintos-first-pilbara-made-rail-car-built-by-gemco-in-karratha)
Rio Tinto's first Pilbara-made rail car built by Gemco in Karratha
(https://www.riotinto.com/en/news/releases/2025/rio-tintos-first-pilbara-made-rail-car-built-by-gemco-in-karratha)
12 December 2025 |
(https://www.riotinto.com/en/news/releases/2025/yinhawangka-aboriginal-corporation-and-rio-tinto-sign-interim-modernised-agreement)
Yinhawangka Aboriginal Corporation and Rio Tinto sign Interim Modernised
Agreement
(https://www.riotinto.com/en/news/releases/2025/yinhawangka-aboriginal-corporation-and-rio-tinto-sign-interim-modernised-agreement)
12 De
(https://www.riotinto.com/en/news/releases/2025/tomago-aluminium-welcomes-continued-collaboration-on-future-operations)
ce
(https://www.riotinto.com/en/news/releases/2025/tomago-aluminium-welcomes-continued-collaboration-on-future-operations)
mber 2025 |
(https://www.riotinto.com/en/news/releases/2025/tomago-aluminium-welcomes-continued-collaboration-on-future-operations)
Tomago Aluminium welcomes continued collaboration on future operations
(https://www.riotinto.com/en/news/releases/2025/tomago-aluminium-welcomes-continued-collaboration-on-future-operations)
16 December 2025 |
(https://www.riotinto.com/en/news/releases/2025/rhodes-ridge-joint-venture-partners-begin-191-million-feasibility-study-on-up-to-50mtpa-pilbara-iron-ore-mine)
Rhodes Ridge Joint Venture partners begin $191 million feasibility study on up
to 50Mtpa Pilbara iron ore mine
(https://www.riotinto.com/en/news/releases/2025/rhodes-ridge-joint-venture-partners-begin-191-million-feasibility-study-on-up-to-50mtpa-pilbara-iron-ore-mine)
8 J
(https://www.riotinto.com/en/news/releases/2026/statement-regarding-glencore-plc-glencore)
anuary 2026 |
(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)
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 J
(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)
anuary 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)
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)
Contacts Please direct all enquiries to media.enquiries@riotinto.com
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Tinto's Group Company Secretary.
riotinto.com (//riotinto.com)
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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 Full Year % change
Q4 Q1 Q2 Q3 Q4 2024 2025 Q4 25 Q4 25 2025
2024 2025 2025 2025 2025 vs vs vs
Q4 24 Q3 25 2024
Principal commodities
Alumina ('000 t) 1,992 1,921 1,815 1,888 1,969 7,303 7,593 -1% +4% +4%
Aluminium (Primary) ('000 t) 837 829 842 857 852 3,296 3,380 +2% -1% +3%
Bauxite ('000 t) 15,412 14,966 15,644 16,392 15,397 58,653 62,400 0% -6% +6%
Borates ('000 t) 132 117 132 128 124 504 502 -6% -3% 0%
Copper (consolidated) ('000 t) 228 210 229 204 240 793 883 +5% +18% +11%
Iron Ore (a) ('000 t) 76,102 62,408 73,548 74,168 79,492 287,676 289,616 +4 % +7% +1%
Lithium carbonate equivalent (LCE) ('000 t) NA 17 (c) 12 13 15 NA 57 NA +23% NA
Titanium dioxide slag ('000 t) 235 223 269 261 222 990 975 -6% -15% -2%
Other Metals & Minerals
Diamonds ('000 cts) 775 942 1,238 1,137 1,112 2,759 4,429 +43% -2% +61%
Gold - mined ('000 oz) 79.0 78.7 112.9 120.8 151.9 282.0 464.3 +92% +26% +65%
Gold - refined ('000 oz) 43.1 34.0 32.1 19.4 31.3 143.8 116.7 -28% +61% -19%
Molybdenum ('000 t) 0.8 1.0 1.1 1.3 1.7 2.6 5.1 +101% +29% +95%
Salt ('000 t) 1,347 836 1,375 1,197 1,342 5,823 4,750 0% +12% -18%
Silver - mined ('000 oz) 1,144 1,159 1,474 1,233 1,650 4,236 5,516 +44% +34% +30%
Silver - refined ('000 oz) 766 635 509 254 439 2,314 1,838 -43% +73% -21%
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 refers to saleable production, after crushing,
screening and beneficiation processes. This, therefore, excludes Simandou
production in 2025 which represents crushed ore at the mine gate. Final
crushing of Simandou ore will initially be undertaken in China.
Rio Tinto share of production
Rio Tinto Q4 Q1 Q2 Q3 Q4 2024 2025
interest
2024
2025
2025
2025
2025
ALUMINA
Production ('000 tonnes)
Jonquière (Vaudreuil) 100% 350 355 340 323 351 1,353 1,370
Jonquière (Vaudreuil) specialty Alumina plant 100% 26 25 30 26 29 111 110
Queensland Alumina 80% 737 685 699 697 710 2,707 2,791
São Luis (Alumar) 10% 97 90 93 98 98 369 380
Yarwun 100% 782 765 653 743 781 2,762 2,943
Rio Tinto total alumina production 1,992 1,921 1,815 1,888 1,969 7,303 7,593
ALUMINIUM
Primary production ('000 tonnes)
Australia - Bell Bay 100% 47 46 48 49 48 187 190
Australia - Boyne Island (a) 74% 93 92 92 94 93 318 370
Australia - Tomago 52% 77 72 73 75 76 302 296
Canada - six wholly owned 100% 398 387 392 397 386 1,597 1,561
Canada - Alouette (Sept-Îles) 40% 64 62 62 60 63 253 247
Canada - Bécancour 25% 30 28 30 30 30 119 118
Iceland - ISAL (Reykjavik) 100% 51 48 51 51 52 202 203
New Zealand - Tiwai Point (b) 100% 59 74 75 82 83 239 315
Oman - Sohar 20% 20 20 20 20 20 80 80
Rio Tinto total primary aluminium production 837 829 842 857 852 3,296 3,380
Recycled production ('000 tonnes)
Matalco 50% 58 66 74 68 62 264 269
Rio Tinto total recycled aluminium production 58 66 74 68 62 264 269
(a) On 1 November 2024, Rio Tinto's ownership interest in Boyne Smelters
Limited (BSL) increased from 71.04% to 73.5%. Production is reported
including this change from 1 November 2024.
(b) On 1 November 2024, Rio Tinto's ownership interest in Tiwai Point Smelter
(NZAS) increased from 79.36% to 100%. Production is reported including this
change from 1 November 2024.
BAUXITE
Production ('000 tonnes) (a)
Gove 100% 3,372 3,141 3,303 3,244 3,040 12,721 12,729
Porto Trombetas 22% 623 519 676 690 659 2,535 2,543
Sangaredi (b) 1,571 2,290 2,028 1,671 1,676 6,319 7,665
Weipa 100% 9,846 9,017 9,637 10,788 10,021 37,078 39,464
Rio Tinto total bauxite production 15,412 14,966 15,644 16,392 15,397 58,653 62,400
(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 Q4 Q1 Q2 Q3 Q4 2024 2025
interest
2024
2025
2025
2025
2025
BORATES
Production ('000 tonnes B(2)O(3) content)
Rio Tinto Borates - borates 100% 132 117 132 128 124 504 502
COPPER
Mine production ('000 tonnes) (a)
Bingham Canyon 100% 31.2 27.5 40.7 18.5 38.4 123.4 125.1
Escondida 30% 104.8 98.7 96.4 96.7 89.9 358.7 381.7
Oyu Tolgoi 66% 43.8 43.0 57.3 58.9 68.6 141.9 227.8
Rio Tinto total mine production 179.8 169.3 194.4 174.1 196.9 624.0 734.7
Refined production ('000 tonnes)
Escondida 30% 13.3 13.6 14.6 14.0 14.0 55.1 56.1
Kennecott (b) 100% 55.4 42.3 39.8 13.0 38.4 193.2 133.6
Rio Tinto total refined production 68.7 55.9 54.4 27.0 52.4 248.3 189.7
Copper production - consolidated basis ('000 tonnes)
Kennecott (b) - Production of refined metal 55.4 42.3 39.8 13.0 38.4 193.2 133.6
Escondida - Mill production (metal in concentrates) (c) 92.9 88.7 87.3 88.3 83.9 329.3 348.1
Escondida - Refined production from leach plants 13.3 13.6 14.6 14.0 14.0 55.1 56.1
Oyu Tolgoi - Metal in concentrates 66.3 65.2 86.8 89.2 103.9 215.0 345.2
Rio Tinto total production - consolidated basis 228.0 209.8 228.5 204.4 240.3 792.6 883.1
(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 4 thousand tonnes of cathode produced from purchased
concentrate in Q4 2025 (39 thousand tonnes for full year 2025). 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 Q4 Q1 Q2 Q3 Q4
interest
2024
2025
2025
2025
2025
2024 2025
DIAMONDS
Production ('000 carats)
Diavik 100% 775 942 1,238 1,137 1,112 2,759 4,429
GOLD
Metal in concentrates production ('000 tonnes) (a)
Bingham Canyon 100% 24.0 24.7 36.5 19.0 37.6 95.2 117.8
Escondida 30% 11.2 13.4 12.1 10.6 9.6 50.6 45.6
Oyu Tolgoi 66% 43.8 40.6 64.4 91.2 104.7 136.2 300.9
Rio Tinto total mine production 79.0 78.7 112.9 120.8 151.9 282.0 464.3
Refined production ('000 ounces)
Kennecott (b) 100% 43.1 34.0 32.1 19.4 31.3 143.8 116.7
(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 4 thousand tonnes of cathode produced from purchased
concentrate in Q4 2025 (39 thousand tonnes for full year 2025). 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 Q4 Q1 Q2 Q3 Q4 2025
interest 2024 2025 2025 2025 2025 2024
IRON ORE
Production ('000 tonnes) (a)
Hamersley mines (b) 59,656 49,637 57,422 58,574 63,972 224,816 229,605
Hope Downs 50 % 5,100 3,608 5,206 4,742 4,819 20,978 18,375
Iron Ore Company of Canada 59 % 2,532 2,317 2,488 2,348 2,187 9,446 9,339
Robe River - Pannawonica (Mesas J and A) 53 % 4,549 3,538 3,960 3,588 4,077 16,823 15,163
Robe River - West Angelas 53 % 4,265 3,308 4,472 4,917 4,436 15,612 17,133
Rio Tinto iron ore production ('000 tonnes) (a) 76,102 62,408 73,548 74,168 79,492 287,676 289,616
Breakdown of Production:
Pilbara Blend and SP10 Lump (c) 23,460 19,385 23,186 24,003 25,557 86,634 92,131
Pilbara Blend and SP10 Fines (c) 35,158 27,860 32,970 33,357 35,974 129,592 130,160
Robe Valley Lump 1,825 1,536 1,679 1,663 1,672 6,393 6,551
Robe Valley Fines 2,723 2,002 2,280 1,924 2,405 10,431 8,612
Yandicoogina Fines (HIY) 10,402 9,309 10,944 10,873 11,697 45,181 42,822
Pilbara iron ore production ('000 tonnes) 73,570 60,091 71,060 71,820 77,305 278,230 280,277
IOC Concentrate 1,062 948 1,179 936 785 3,964 3,848
IOC Pellets 1,470 1,369 1,309 1,411 1,402 5,482 5,491
IOC iron ore production ('000 tonnes) 2,532 2,317 2,488 2,348 2,187 9,446 9,339
Simandou iron ore production ('000 tonnes) (g) 45% (h) 0 0 0 0 1,023 0 1,023
Breakdown of Shipments:
Pilbara Blend Lump 13,079 9,775 11,159 17,668 19,081 52,626 57,682
Pilbara Blend Fines 23,351 18,825 21,520 33,353 34,602 97,847 108,299
Robe Valley Lump 1,508 1,159 1,385 1,330 1,371 5,234 5,246
Robe Valley Fines 3,055 2,232 2,638 2,233 2,615 11,658 9,718
Yandicoogina Fines (HIY) 10,585 9,350 10,636 10,764 12,421 45,971 43,170
SP10 Lump (c) 7,341 8,117 8,324 2,938 3,637 22,601 23,015
SP10 Fines (c) 13,421 11,405 12,459 3,155 4,975 41,225 31,994
Pilbara iron ore shipments ('000 tonnes) (d) 72,341 60,862 68,120 71,441 78,702 277,162 279,125
Pilbara iron ore shipments - consolidated basis ('000 tonnes) (d) (f) 74,213 62,537 69,985 73,431 80,586 284,615 286,540
IOC Concentrate 1,140 646 1,276 1,056 837 4,515 3,815
IOC Pellets 1,357 1,356 1,382 1,306 1,376 5,444 5,420
IOC Iron ore shipments ('000 tonnes) (d) 2,497 2,001 2,658 2,363 2,212 9,959 9,234
Rio Tinto iron ore shipments ('000 tonnes) (d) 74,838 62,863 70,778 73,804 80,914 287,121 288,359
Simandou iron ore sales ('000 tonnes) 45% (h) 0 0 0 0 0 0 0
Rio Tinto iron ore sales ('000 tonnes) (e) 77,648 64,828 74,335 76,719 79,702 293,002 295,584
(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 refers to saleable
production, after crushing, screening and beneficiation processes. This,
therefore, excludes Simandou production in 2025 which represents crushed ore
at the mine gate. Final crushing of Simandou ore will initially be undertaken
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) Shipments includes material shipped to our portside trading facility in
China which may not be sold onwards in the same period.
(e) Represents the difference between amounts shipped to portside trading and
onward sales from portside trading, and third party volumes sold.
(f) 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.
(g) Simandou production represents crushed ore at mine gate in wet metric
tonnne. Final crushing initially will be undertaken in China.
(h) Represents the Rio Tinto equity share of SimFer Jersey (53% owned by Rio
Tinto), which owns 85% of the SimFer mine (Blocks 3&4).
Rio Tinto share of production
Rio Tinto Q4 Q1 Q2 Q3 Q4 2025
interest 2024 2025 2025 2025 2025 2024
LITHIUM
Production ('000 tonnes)
Lithium carbonate (a) NA 12 11 11 14 NA 49
Lithium hydroxide 100% NA 4 5 6 5 NA 21
Spodumene 100% NA 34 0 0 0 NA 34
Other lithium specialities (LCE) 100% NA 1 1 2 1 NA 6
Total lithium carbonate equivalent (LCE) production (b) NA 17 (c) 12 13 15 NA 57
(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) Full first quarter lithium carbonate equivalent production from Arcadium
was 17kt (20kt on a 100% basis) of which 6kt was produced since completion of
the acquisition in March (7kt on a 100% basis). Full first quarter lithium
carbonate equivalent shipments from Arcadium was 12kt (15kt on a 100% basis)
of which 4kt was shipped since completion of the acquisition in March (5kt on
a 100% basis).
MOLYBDENUM
Mine production ('000 tonnes) (a)
Bingham Canyon 100% 0.8 1.0 1.1 1.3 1.7 2.6 5.1
(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 (a) 68% 1,347 836 1,375 1,197 1,342 5,823 4,750
(a) In December 2024, we completed the sale of Dampier Salt Limited's Lake
MacLeod operation to Leichhardt Industrial Group. Following this divestment,
we continue to operate solar salt sites at Dampier and Port Hedland.
SILVER
Metal in concentrates production ('000 tonnes) (a)
Bingham Canyon 100% 377 357 539 282 556 1,484 1,734
Escondida 30% 486 536 572 583 653 1,813 2,343
Oyu Tolgoi 66% 281 266 363 369 441 940 1,439
Rio Tinto total mine production 1,144 1,159 1,474 1,233 1,650 4,236 5,516
Refined production ('000 ounces)
Kennecott (b) 100% 766 635 509 254 439 2,314 1,838
(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 4 thousand tonnes of cathode produced from purchased
concentrate in Q4 2025 (39 thousand tonnes for full year 2025). 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 Q4 Q1 Q2 Q3 Q4 2025
interest 2024 2025 2025 2025 2025 2024
TITANIUM DIOXIDE SLAG
Production ('000 tonnes)
Rio Tinto Iron & Titanium (a) 100% 235 223 269 261 222 990 975
(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 December 2025.
Rio Tinto operational data
Rio Tinto Q4 Q1 Q2 Q3 Q4 2024 2025
interest
2024
2025
2025
2025
2025
ALUMINA
Smelter Grade Alumina - Aluminium Group
Alumina production ('000 tonnes)
Australia
Queensland Alumina Refinery - Queensland 80% 921 856 874 871 887 3,384 3,488
Yarwun refinery - Queensland 100% 782 765 653 743 781 2,762 2,943
Brazil
São Luis (Alumar) refinery 10% 967 901 926 984 984 3,687 3,796
Canada
Jonquière (Vaudreuil) refinery - Quebec (a) 100% 350 355 340 323 351 1,353 1,370
(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% 26 25 30 26 29 111 110
Rio Tinto percentage interest shown above is at 31 December 2025. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q4 Q1 Q2 Q3 Q4 2024 2025
interest 2024 2025 2025 2025 2025
ALUMINIUM
Primary Aluminium
Primary aluminium production ('000 tonnes)
Australia
Bell Bay smelter - Tasmania 100% 47 46 48 49 48 187 190
Boyne Island smelter - Queensland (a) 74% 128 125 125 127 127 507 504
Tomago smelter - New South Wales 52% 149 140 141 145 148 587 574
Canada
Alma smelter - Quebec 100% 122 119 120 122 123 483 485
Alouette (Sept-Îles) smelter - Quebec 40% 159 155 154 149 158 632 616
Arvida smelter - Quebec 100% 37 36 36 34 24 153 130
Arvida AP60 smelter - Quebec 100% 15 15 15 15 16 61 60
Bécancour smelter - Quebec 25% 120 113 120 118 119 473 470
Grande-Baie smelter - Quebec 100% 58 56 56 58 58 229 229
Kitimat smelter - British Columbia 100% 102 100 102 103 101 419 406
Laterrière smelter - Quebec 100% 64 62 62 64 63 252 251
Iceland
ISAL (Reykjavik) smelter 100% 51 48 51 51 52 202 203
New Zealand
Tiwai Point smelter (b) 100% 63 74 75 82 83 290 315
Oman
Sohar smelter 20% 101 99 101 101 100 399 400
Recycled Aluminium
Recycled aluminium production ('000 tonnes)
Matalco 50% 116 132 147 135 124 528 538
(a) On 1 November 2024, Rio Tinto's ownership interest in Boyne Smelters
Limited (BSL) increased from 71.04% to 73.5%. Production is reported
including this change from 1 November 2024.
(b) On 1 November 2024, Rio Tinto's ownership interest in Tiwai Point Smelter
(NZAS) increased from 79.36% to 100%. Production is reported including this
change from 1 November 2024.
Rio Tinto percentage interest shown above is at 31 December 2025. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q4 Q1 Q2 Q3 Q4 2024 2025
interest 2024 2025 2025 2025 2025
BAUXITE
Bauxite production ('000 tonnes)
Australia
Gove mine - Northern Territory 100% 3,372 3,141 3,303 3,244 3,040 12,721 12,729
Weipa mine - Queensland 100% 9,846 9,017 9,637 10,788 10,021 37,078 39,464
Brazil
Porto Trombetas (MRN) mine 22% 2,831 2,357 3,071 3,134 2,997 11,523 11,560
Guinea
Sangaredi mine (a) 23% 3,491 5,089 4,506 3,712 3,725 14,043 17,032
Rio Tinto share of bauxite shipments
Share of total bauxite shipments ('000 tonnes) 15,513 14,390 15,670 16,396 15,102 58,916 61,559
Share of third party bauxite shipments ('000 tonnes) 10,627 9,807 11,147 11,600 10,532 40,935 43,087
(a) Rio Tinto has a 22.95% shareholding in the Sangaredi mine but benefits
from 45.0% of production.
Rio Tinto Q4 Q1 Q2 Q3 Q4 2024 2025
interest
2024
2025
2025
2025
2025
BORATES
US
Borates ('000 tonnes) (a) 100% 132 117 132 128 124 504 502
(a) Production is expressed as B(2)O(3) content.
Rio Tinto Q4 Q1 Q2 Q3 Q4 2024 2025
interest 2024 2025 2025 2025 2025
COPPER & GOLD
Escondida 30%
Chile
Sulphide ore to concentrator ('000 tonnes) 35,293 32,889 36,490 36,721 35,628 133,811 141,728
Average copper grade (%) 1.06 1.09 0.95 0.94 0.91 0.99 0.97
Contained copper ('000 tonnes) 309.8 295.6 291.0 294.2 279.7 1,097.8 1,160.5
Contained gold ('000 ounces) 37.3 44.5 40.3 35.3 31.9 168.6 152.1
Contained silver ('000 ounces) 1,619 1,787 1,906 1,942 2,176 6,042 7,811
Recoverable copper in ore stacked for leaching ('000 tonnes) (a) 39.5 33.5 30.3 28.1 20.0 97.9 111.9
Refined production from leach plants:
Copper cathode production ('000 tonnes) 44.4 45.2 48.7 46.5 46.7 183.6 187.1
Sales of metals:
Copper in concentrates ('000 tonnes) (b) 275 309 286 258 278 1,013 1,131
Copper cathode ('000 tonnes) 43 47 53 38 50 180 188
Gold ('000 ounces) (b) 37 45 40 35 32 169 152
Silver ('000 ounces) (b) 1,619 1,787 1,906 1,942 2,176 6,042 7,811
(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 December 2025. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q4 Q1 Q2 Q3 Q4 2024 2025
interest 2024 2025 2025 2025 2025
COPPER & GOLD (continued)
Kennecott
Bingham Canyon mine 100%
Utah, US
Ore treated ('000 tonnes) 10,487 9,339 10,630 5,928 11,249 38,164 37,146
Average ore grade:
Copper (%) 0.35 0.35 0.45 0.37 0.41 0.37 0.40
Gold (g/t) 0.12 0.14 0.17 0.16 0.18 0.12 0.16
Silver (g/t) 1.78 1.81 2.21 2.11 2.31 1.88 2.12
Molybdenum (%) 0.020 0.029 0.031 0.047 0.027 0.020 0.032
Copper concentrates produced ('000 tonnes) 144 131 175 75 162 527 544
Average concentrate grade (% Cu) 21.6 21.0 23.3 24.6 23.2 23.3 22.9
Production of metals in copper concentrates:
Copper ('000 tonnes) (a) 31.2 27.5 40.7 18.5 38.4 123.4 125.1
Gold ('000 ounces) 24.0 24.7 36.5 19.0 37.6 95.2 117.8
Silver ('000 ounces) 377 357 539 282 556 1,484 1,734
Molybdenum concentrates produced ('000 tonnes): 2.2 2.4 2.7 3.3 4.2 6.5 12.6
Molybdenum in concentrates ('000 tonnes) 0.8 1.0 1.1 1.3 1.7 2.6 5.1
Kennecott smelter & refinery 100%
Copper concentrates smelted ('000 tonnes) 187 163 123 131 194 741 611
Copper anodes produced ('000 tonnes) (b) 43.2 36.2 33.6 27.8 37.9 197.2 135.4
Production of refined metal:
Copper ('000 tonnes) (c) 55.4 42.3 39.8 13.0 38.4 193.2 133.6
Gold ('000 ounces) (d) 43.1 34.0 32.1 19.4 31.3 143.8 116.7
Silver ('000 ounces) (d) 766 635 509 254 439 2,314 1,838
Sales of refined metal:
Copper ('000 tonnes) (c) 52.1 40.7 41.7 10.2 41.9 192.5 134.6
Gold ('000 ounces) 33.2 33.6 30.8 17.7 29.7 138.6 111.9
Silver ('000 ounces) 611 625 500 230 427 2,195.4 1,782.1
(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 4 thousand tonnes of cathode produced from purchased
concentrate in Q4 2025 (39 thousand tonnes for full year 2025). 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 December 2025. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q4 Q1 Q2 Q3 Q4 2024 2025
interest 2024 2025 2025 2025 2025
COPPER & GOLD (continued)
Oyu Tolgoi mine 66%
Mongolia
Ore Treated ('000 tonnes) - Open Pit 8,881 7,469 6,836 7,282 7,926 34,528 29,514
Ore Treated ('000 tonnes) - Underground 2,144 2,434 3,198 2,870 3,406 6,510 11,908
Ore Treated ('000 tonnes) - Total 11,025 9,903 10,034 10,153 11,332 41,037 41,422
Average mill head grades:
Open Pit
Copper (%) 0.43 0.42 0.47 0.54 0.55 0.39 0.50
Gold (g/t) 0.24 0.25 0.37 0.58 0.62 0.21 0.46
Silver (g/t) 1.08 1.02 1.07 1.13 1.16 1.11 1.09
Underground
Copper (%) 1.96 2.03 2.13 2.16 2.20 1.94 2.14
Gold (g/t) 0.55 0.55 0.61 0.63 0.59 0.56 0.59
Silver (g/t) 4.59 4.47 4.75 4.87 4.94 4.40 4.77
Total
Copper (%) 0.73 0.82 1.00 1.00 1.05 0.64 0.97
Gold (g/t) 0.30 0.32 0.44 0.59 0.61 0.26 0.50
Silver (g/t) 1.77 1.87 2.24 2.19 2.29 1.63 2.15
Copper concentrates produced ('000 tonnes) 307.3 303.4 381.6 394.9 464.3 994.0 1,544.1
Average concentrate grade (% Cu) 21.6 21.5 22.7 22.6 22.4 21.6 22.4
Production of metals in concentrates:
Copper in concentrates ('000 tonnes) 66.3 65.2 86.8 89.2 103.9 215.0 345.2
Gold in concentrates ('000 ounces) 66.3 61.5 97.5 138.2 158.6 206.4 455.9
Silver in concentrates ('000 ounces) 426 403 550 559 668 1,424 2,180
Sales of metals in concentrates (a):
Copper in concentrates ('000 tonnes) 62.6 57.7 86.4 80.9 92.4 198.2 317.4
Gold in concentrates ('000 ounces) 63.6 55.8 92.8 121.2 144.2 190.5 414.1
Silver in concentrates ('000 ounces) 382 338 514 474 557 1,244 1,883.4
(a) Sales of metals in concentrates refer to the payable metals in
concentrates collected by customers from the Mongolia/China border.
Rio Tinto Q4 Q1 Q2 Q3 Q4 2024 2025
interest 2024 2025 2025 2025 2025
DIAMONDS
Diavik Diamonds 100%
Northwest Territories, Canada
Ore processed ('000 tonnes) 330 394 511 515 489 1,267 1,908
Diamonds recovered ('000 carats) 775 942 1,238 1,137 1,112 2,759 4,429
Rio Tinto percentage interest shown above is at 31 December 2025. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q4 Q1 Q2 Q3 Q4 2024 2025
2024
2025
2025
interest 2025 2025
IRON ORE
Rio Tinto Iron Ore
Western Australia
Pilbara Operations
Saleable iron ore production ('000 tonnes)
Hamersley mines (a) 59,656 49,637 57,422 58,574 63,972 224,816 229,605
Hope Downs 50 % 10,200 7,216 10,413 9,484 9,639 41,956 36,751
Robe River - Pannawonica (Mesas J and A) 53 % 8,583 6,676 7,471 6,769 7,693 31,742 28,610
Robe River - West Angelas 53 % 8,048 6,242 8,437 9,276 8,370 29,457 32,326
Total production ('000 tonnes) 86,486 69,771 83,743 84,104 89,674 327,972 327,292
Breakdown of total production:
Pilbara Blend and SP10 Lump (b) 27,273 22,452 27,374 28,545 29,678 101,679 108,049
Pilbara Blend and SP10 Fines (b) 40,228 31,334 37,954 37,917 40,606 149,370 147,811
Robe Valley Lump 3,444 2,899 3,169 3,138 3,155 12,062 12,361
Robe Valley Fines 5,139 3,778 4,303 3,631 4,538 19,680 16,249
Yandicoogina Fines (HIY) 10,402 9,309 10,944 10,873 11,697 45,181 42,822
Breakdown of total shipments:
Pilbara Blend Lump 16,223 11,997 12,967 21,142 21,362 65,188 67,467
Pilbara Blend Fines 29,042 22,434 25,849 38,477 39,448 120,723 126,208
Robe Valley Lump 2,846 2,187 2,614 2,510 2,588 9,876 9,898
Robe Valley Fines 5,764 4,211 4,977 4,214 4,934 21,995 18,335
Yandicoogina Fines (HIY) 10,585 9,350 10,636 10,764 12,421 45,971 43,170
SP10 Lump (b) 7,567 8,806 9,216 3,643 4,720 23,110 26,385
SP10 Fines (b) 13,650 11,755 13,629 3,597 5,787 41,705 34,768
Total shipments ('000 tonnes) (c) 85,678 70,740 79,887 84,346 91,259 328,570 326,232
Rio Tinto Q4 Q1 Q2 Q3 Q4 2024 2025
2024
2025
2025
interest 2025 2025
Iron Ore Company of Canada 59 %
Newfoundland & Labrador and Quebec in Canada
Saleable iron ore production:
Concentrates ('000 tonnes) 1,809 1,614 2,008 1,594 1,337 6,750 6,553
Pellets ('000 tonnes) 2,503 2,331 2,229 2,403 2,388 9,336 9,352
IOC Total production ('000 tonnes) 4,312 3,945 4,237 3,998 3,725 16,086 15,905
Shipments:
Concentrates ('000 tonnes) 1,942 1,100 2,173 1,799 1,425 7,689 6,496
Pellets ('000 tonnes) 2,310 2,308 2,353 2,225 2,343 9,272 9,229
IOC Total Shipments ('000 tonnes) (c) 4,252 3,408 4,526 4,024 3,768 16,961 15,726
Simandou 45% (f)
Simandou iron ore production ('000 tonnes) (e) 0 0 0 0 2,271 0 2,271
Simandou iron ore sales ('000 tonnes) 0 0 0 0 0 0 0
Global Iron Ore Totals
Iron Ore Production ('000 tonnes) 90,798 73,716 87,980 88,102 93,399 344,058 343,197
Iron Ore Shipments ('000 tonnes) 89,931 74,148 84,414 88,369 95,027 345,531 341,958
Iron Ore Sales ('000 tonnes) (d) 92,063 75,339 86,474 90,808 93,201 349,682 345,821
(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) Shipments includes material shipped to our portside trading facility in
China which may not be sold onwards in the same period.
(d) Include Pilbara and IOC sales adjusted for portside trading movements and
third party volumes sold.
(e) Simandou production represents crushed ore at mine gate in wmt. Final
crushing initially will be undertaken in China. There is 2.1wmt stockpiled ore
at the Simfer mine gate.
(f) Represents Rio Tinto's equity share of SimFer Jersey (53% owned by Rio
Tinto), which owns 85% of the SimFer mine (Blocks 3&4).
Rio Tinto percentage interest shown above is at 31 December 2025. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q4 Q1 Q2 Q3 Q4 2024 2025
2024
2025
2025
interest 2025 2025
LITHIUM
Lithium production ('000 tonnes)
Lithium carbonate (a) (a) NA 15 14 14 17 NA 60
Lithium hydroxide 100% NA 4 5 6 5 NA 21
Spodumene 100% NA 34 0 0 0 NA 34
Other lithium specialities (LCE) 100% NA 1 1 2 1 NA 6
Total lithium carbonate equivalent (LCE) production (b) NA 20 (c) 15 15 18 NA 68
Third party shipments ('000 tonnes)
Lithium carbonate (a) (a) NA 10 6 11 15 NA 42
Lithium hydroxide 100% NA 3 5 5 6 NA 19
Spodumene 100% NA 20 23 31 0 NA 73
Other lithium specialities (LCE) 100% NA 0 1 0 0 NA 2
Total lithium carbonate equivalent shipments ('000 LCE) NA 15 (c) 14 20 21 NA 71
(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 17kt (20kt on a 100% basis) of which 6kt was produced since completion of
the acquisition in March (7kt on a 100% basis). Full first quarter lithium
carbonate equivalent shipments from Arcadium was 12kt (15kt on a 100% basis)
of which 4kt was shipped since completion of the acquisition in March (5kt on
a 100% basis).
SALT
Dampier Salt (a) 68%
Western Australia
Salt production ('000 tonnes) 1,970 1,223 2,012 1,751 1,963 8,518 6,949
(a) In December 2024, we completed the sale of Dampier Salt Limited's Lake
MacLeod operation to Leichhardt Industrial Group. Following this divestment,
we continue to operate solar salt sites at Dampier and Port Hedland.
TITANIUM DIOXIDE SLAG
Rio Tinto Iron & Titanium 100%
Canada and South Africa
(Rio Tinto share) (a)
Titanium dioxide slag ('000 tonnes) 235 223 269 261 222 990 975
(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 December 2025. The data
represents production and sales on a 100% basis unless otherwise stated.
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