By Rhiannon Hoyle
Rio Tinto reported an 11% increase in its copper output in 2025, surpassing guidance to investors, and said iron-ore shipments from its Australian mines were only slightly lower following record output in the final quarter of the year.
The world's second-biggest miner by market value said Wednesday it produced 883,000 metric tons of copper last year, exceeding its own forecast of between 860,000 and 875,000 tons. Fourth-quarter copper output was 5% higher on-year at 240,000 tons.
Higher copper output was underpinned by rising production from the Oyu Tolgoi mine in Mongolia, where Rio Tinto has recently completed an underground expansion.
Rio Tinto said it shipped 326.2 million tons of iron ore from its iron-ore operations in Australia's Pilbara mining region last year, down 1% on 2024. The miner previously said shipments would be at the lower end of a 323 million-338 million ton guidance range.
Chief Executive Simon Trott said the company "achieved record quarterly iron ore production in the Pilbara, with a strong recovery from the extreme weather interruptions earlier in the year."
Fourth-quarter shipments from the Pilbara were 7% higher year over year, at 91.3 million tons, while output rose by 4% to 89.7 million tons. Rio Tinto makes more than half of its earnings from its iron-ore operations.
Rio Tinto earlier this month said it is in talks with Glencore about a deal that could create the world's largest mining company. The miner did not address the negotiations in its quarterly report Wednesday.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
01-20-26 1723ET
