Rio Tinto Chief Executive Simon Trott said: "Safety remains our number one priority. We are deeply saddened by the tragic death of Mohamed Camara at the SimFer mine site and are committed to learning across our business to prevent future incidents. This has been a time for huge reflections on safety across the group.
"We continue to strengthen performance from our assets, setting back-to-back quarterly production records in our bauxite business and at Oyu Tolgoi - where the underground ramp-up remains on track to boost copper output by more than 50% this year.
"We are focused on delivering a strong finish to the year from the Pilbara. Our growth projects are also progressing at pace - at Simandou, we started loading first ore at the mine for movement down the rail and to the port in October.
"We are on track to meet production guidance for 2025, with an upwards revision to bauxite this quarter, and are well positioned to deliver compelling mid-term production growth. We will continue to deliver further shareholder value through operational excellence, simplification and discipline on performance and capital investment."
Executive Summary
- New operating model and executive team: to simplify the business and unlock additional shareholder value. New structure comprises three world-class businesses: Iron Ore; Aluminium & Lithium; and Copper. Borates and Iron & Titanium have been placed under strategic review.
- Copper equivalent (CuEq)1 production: increased 9% in Q3 YoY, driven by strong performance across all our assets.
- Copper: Total production is on track to achieve the higher end of full year guidance, driven by the strong ramp-up at Oyu Tolgoi. Our Kennecott mine performed as expected during the quarter while major planned maintenance at the concentrator and smelter commenced successfully.
- Iron ore: Pilbara achieved its second highest Q3 shipments since 2019, up 6% from Q2. As part of our Iron Ore replacement strategy, West Angelas Sustaining Project received all Government approvals in October.
- Aluminium & Lithium: Full year bauxite production guidance upgraded driven by operational excellence at our bauxite business, especially at Amrun.
Production2 |
Quarter 3 2025 |
vs Q3 2024 |
vs Q2 2025 |
2025 guidance6 |
Guidance status |
||||||
Pilbara iron ore shipments (100% basis) |
Mt |
84.3 |
--% |
+6% |
323 to 338 (at lower end) |
Unchanged |
|||||
Pilbara iron ore production (100% basis) |
Mt |
84.1 |
--% |
--% |
NA |
Unchanged |
|||||
IOC5 iron ore pellets and concentrate |
Mt |
2.3 |
+11% |
-6% |
9.7 to 11.4 |
Unchanged (at lower end) |
|||||
Bauxite |
Mt |
16.4 |
+9% |
+5% |
59 to 61 (previously 57 to 59) |
Upgraded |
|||||
Alumina |
Mt |
1.9 |
+7% |
+4% |
7.4 to 7.8 |
Unchanged |
|||||
Aluminium3 |
Mt |
0.86 |
+6% |
+2% |
3.25 to 3.45 |
Unchanged |
|||||
Copper (consolidated basis)4 |
kt |
204 |
+10% |
-11% |
780 to 850 (at higher end) |
Unchanged |
|||||
Titanium dioxide slag |
Mt |
0.3 |
-1% |
-3% |
1.0 to 1.2 (at lower end) |
Unchanged |
|||||
Boric oxide equivalent |
Mt |
0.1 |
+2% |
-3% |
~0.5 |
Unchanged |
|||||
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 Includes primary aluminium only.4 |
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