Our pace continues - strong production across the portfolio
 
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.
2025 guidance
Production guidance
  • 2025 production guidance is revised higher for bauxite. All other production guidance is unchanged1.
Pilbara iron ore shipments
  • Pilbara shipments are expected to be at the lower end of guidance following 13 Mt of cyclone impacts in Q1, of which we are on track to recover about half. A strong Q4 performance is required as the system remains tightly balanced and has limited ability to mitigate further losses.
  • Pilbara iron ore guidance remains subject to the timing of approvals for planned mining areas and heritage clearances.
Iron Ore Company of Canada
  • Production is now expected at the lower end of guidance. We are focusing on improving pit health.
Bauxite production
  • We have upgraded our guidance range from 57 - 59 Mt (higher end) to 59 - 61 Mt reflecting consistently higher utilisation rates, particularly at Weipa where Amrun has continued to exceed nameplate capacity.
1 Guidance remains subject to weather impacts.