16th Jul 2025 08:22
(Alliance News) - Rio Tinto PLC on Wednesday said copper production in 2025 is expected to reach the higher end of guidance after seeing a second-quarter boost.
The London-based mining firm focused on Australia reported that second-quarter copper production rose was 229 million tonnes, rising 15% on-year and 9% on a quarterly basis.
Iron ore production at the Pilbara mine in Western Australia was 83.7 million tonnes, 5% higher than in 2024 and 20% higher than the previous quarter. Iron ore shipments were 79.9 million tonnes, down 1% from the previous year and up 13% on-quarter.
Bauxite production was 15.6 million tonnes in the second-quarter, a 6% rise on-year and and a 5% rise from the first-quarter.
Overall production guidance is unchanged, which includes provisions for full-year copper and bauxite production at the higher end, and copper unit costs around the lower end of the guided range. Despite rising in the second-quarter, titanium dioxide slag production is still expected at the lower end.
Rio Tinto's move into lithium mining is "progressing to plan", the firm said, as is a replacement strategy for iron ore prospects. Rio Tinto's new Western Range project opened in June, and it expects its Hope Down 2 project received government approval during the second-quarter.
Chief Executive Jakob Stausholm commented: “We delivered excellent operational performance from our mine operations with record production from our bauxite business and from Oyu Tolgoi [in Mongolia] as it ramps up to become the world’s fourth largest copper mine before the end of the decade."
"We continue to make strong progress in our production and growth projects, achieving our highest Pilbara second-quarter production since 2018 and accelerating the first shipment from the Simandou high-grade iron ore project in Guinea."
Stausholm will be replaced as CEO on August 25, when current head of Iron Ore Simon Trott takes over the role.
Rio Tinto shares were 1.8% higher at 4,425.50 pence on Wednesday morning in London. In Sydney, its shares closed 0.2% higher at AUD110.52.
By Holly Munks, Alliance News reporter
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