Rio Tinto Posts 9% EBITDA Growth and Record Copper, Bauxite Output in 2025
Rio Tinto reported full-year 2025 underlying EBITDA grew 9% to $10.9 billion alongside an 8% rise in copper equivalent production, delivering record copper and bauxite output. Copper EBITDA more than doubled to $7.4 billion, while maintenance of $11 billion capex and the Arcadium acquisition lifted net debt to $14.4 billion.
1. Full Year 2025 Financial Results
Rio Tinto’s underlying EBITDA rose 9% year-over-year to $10.9 billion, reflecting stable earnings enhancements. The company invested heavily to support this growth, reporting a strong run rate in productivity and maintaining robust cash flow generation.
2. Record Production and Cost Savings
Copper equivalent production climbed 8%, enabling annual records in both copper and bauxite output. A $650 million productivity benefit run rate reduced copper unit costs by 5%, bolstering margins across the copper business.
3. Segment Performance, Capex and Acquisitions
Copper EBITDA more than doubled to $7.4 billion, while Aluminum EBITDA grew by 20%. Rio Tinto held capital expenditure at the high end of its $11 billion guidance and completed the Arcadium acquisition, which contributed to net debt rising to $14.4 billion.
4. 2026 Outlook and Challenges
Production volume growth in 2026 is expected to be more muted due to planned site closures and declining ore grades. In the Pilbara iron ore region, unit costs are forecast to increase slightly to between $23 and $25 per ton.