Rio Tinto Posts 4% Q4 Pilbara Output Gain and First Simandou Cargo

RIORIO

Rio Tinto reported Q4 Pilbara iron ore production of 89.7 Mt, up 4% Y/Y, and shipments of 91.3 Mt, up 7% Y/Y, and achieved its first Simandou shipment. It delivered 8% Y/Y copper equivalent production growth and guides Pilbara iron ore sales of 323–338 Mt for 2026.

1. Record Pilbara Iron Ore Performance in Q4 2025

Rio Tinto reported Pilbara iron ore production of 89.7 million tonnes in the fourth quarter, a 4% increase year-over-year, and shipments of 91.3 million tonnes, up 7% from the prior year. The rebound followed weather disruptions earlier in the period and marks the highest quarterly output in company history. Simandou, the West African iron ore project, achieved its first shipment during the quarter, underlining the rapid development pace at this new growth asset.

2. Strong Copper Equivalent and Bauxite Growth

Copper equivalent production rose 8% in 2025, driven by the successful ramp-up of the Oyu Tolgoi underground mine and record bauxite output of 62.4 million tonnes for the full year, a 6% improvement over 2024. Copper shipments increased 5% year-over-year, contributing to an 11% annual rise in consolidated copper production to 883 kt, exceeding management’s guidance range of 860–875 kt.

3. 2026 Production Guidance and Investor Outlook

For fiscal 2026, Rio Tinto is guiding Pilbara iron ore sales of 323–338 million tonnes, bauxite production of 58–61 million tonnes and alumina output of 7.6–8.0 million tonnes. Management cited a streamlined operating model and sustained capital discipline as key drivers for delivering on these targets. The full-year results announcement is scheduled for February 19, 2026, when earnings per share guidance and free cash flow projections will be updated.

4. Expansion of Renewable Power at Kennecott

Rio Tinto energized a new 25 MW solar facility at its Kennecott copper mine in Utah, bringing total on-site solar capacity to 30 MW. The installation—featuring over 71,000 tellurium-containing panels produced from mine byproduct—reduces Scope 2 emissions by approximately 6%, equivalent to removing 20,000 tonnes of CO₂e annually. The project, delivered two months ahead of schedule in partnership with Bechtel, exemplifies the company’s circular mineral supply-chain strategy and supports its low-carbon transition goals.

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