Rio Tinto releases fourth quarter 2025 production results

Standout production results with +8% CuEq production growth in 2025

MELBOURNE, Australia--(BUSINESS WIRE)--Rio Tinto Chief Executive Simon Trott said: “Our operations delivered exceptional production performance, both on a quarter-on-quarter and full year basis, as we leverage our strong foundation of operating excellence and project delivery across our portfolio.

“We achieved record quarterly iron ore production in the Pilbara, with a strong recovery from the extreme weather interruptions earlier in the year. At Simandou, we celebrated the major milestone of first shipment from the port; a testament to our ability to deliver major growth projects.

“Record copper production continues following delivery of our Oyu Tolgoi underground project, another demonstration of our unique and diverse project capabilities.

“A step change in bauxite production through the year once again highlights the ongoing maturation of our operational excellence.

“In lithium, we achieved production growth from our operations and in-flight projects as planned in 2025, as we build out our high-quality portfolio with discipline.

“Implementation of our stronger, sharper, simpler way of working continues, and is delivering results and creating value.”

Executive Summary

• Operational excellence: Copper equivalent (CuEq)¹ production rose 8% YoY in 2025, with shipments up 5%, driven by the strong ramp-up of Oyu Tolgoi, a record year for bauxite production and our world-class lithium business.
• Iron ore: Pilbara operations achieved record Q4 production, +4% YoY, and shipments, +7% YoY, while the exceptional development pace at Simandou continued with the start of operations and first shipment in Q4.
• Aluminium: Production strength and agility demonstrated across the aluminium value chain in 2025.
• Lithium: Achieved record quarterly production from our operating assets in Argentina.
• Copper: Annual production grew 11% YoY, exceeding the top end of our increased guidance range, driven by the successful ramp-up of Oyu Tolgoi, where the underground development project is now complete.

Production^2	Quarter 4 2025	vs Q4 2024	2025	vs 2024	2025 guidance
Pilbara iron ore shipments (100% basis) (Mt)	91.3	+7 %	326.2	-1 %	323 - 338 (at lower end)
Pilbara iron ore production (100% basis) (Mt)	89.7	+4 %	327.3	— %	NA
IOC^3 iron ore pellets and concentrate (Mt)	2.2	-14 %	9.3	-1 %	9.0 - 9.5
Bauxite (Mt)	15.4	0 %	62.4	+6 %	>61 Mt
Alumina (Mt)	2.0	-1 %	7.6	+4 %	7.4 - 7.8
Aluminium^4(Mt)	0.85	+2 %	3.38	+3 %	3.25 - 3.45 (at upper end)
Copper (consolidated basis) (kt)	240	+5 %	883	+11 %	860 - 875
Titanium dioxide slag (Mt)	0.2	-6 %	1.0	-2 %	1.0 - 1.2 (at lower end)
Boric oxide equivalent (Mt)	0.1	-6 %	0.5	0 %	~0.5
^1 Copper equivalent volume = Rio Tinto’s share of production volume / Volume conversion factor x Product price ($/t) / Copper price ($/t). Prices are based on long-term consensus prices. ^2 Rio Tinto share unless otherwise stated. ^3 Iron Ore Company of Canada.^4 Includes primary aluminium only.

 

The full fourth quarter production results are available here

This announcement is authorised for release to the market by Andy Hodges, Rio Tinto’s Group Company Secretary.

LEI: 213800YOEO5OQ72G2R82

Classification: 3.1 Additional regulated information required to be disclosed under the laws of a Member State

Forward-looking statement

This announcement includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this report, including, without limitation, those regarding Rio Tinto’s financial position, production guidance, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to Rio Tinto’s products, production forecasts and reserve and resource positions), are forward-looking statements. The words “intend”, “aim”, “project”, “anticipate”, “estimate”, “plan”, “believes”, “expects”, “may”, “should”, “will”, “target”, “set to” or similar expressions, commonly identify such forward-looking statement.

Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Rio Tinto, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding Rio Tinto’s present and future business strategies and the environment in which Rio Tinto will operate in the future. A discussion of the important factors that could cause Rio Tinto’s actual results, performance or achievements to differ materially from those in the forward-looking statements can be found in Rio Tinto’s most recent Annual Report and accounts in Australia and the United Kingdom and the most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (the “SEC”) or Form 6-Ks furnished to, or filed with, the SEC. Forward-looking statements should, therefore, be construed in light of the risk factors discussed in such documents, and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this report. Rio Tinto expressly disclaims any obligation or undertaking (except as required by applicable law, the UK Listing Rules, the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority and the Listing Rules of the Australian Securities Exchange) to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in Rio Tinto’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Nothing in this announcement should be interpreted to mean that future earnings per share of Rio Tinto plc or Rio Tinto Limited will necessarily match or exceed its historical published earnings per share. Past performance cannot be relied on as a guide to future performance.