Pilbara production record as Rio Tinto releases Q2 results

(Posted on 16/07/26)

Rio Tinto has driven performance to achieve 3% YoY CuEq1 growth in the first half of 2026.

Chief Executive Simon Trott said, "We are delivering growth as we drive performance across the group, with copper equivalent production up 3 per cent in the first half.

“Our scale, geographical diversification and sophisticated supply chains continue to underpin our resilience and strong operational performance despite ongoing geopolitical uncertainty throughout the period.

“In the Pilbara, we achieved our highest first half iron ore production since we set a record in 2018, through the successful implementation of our ongoing productivity improvement programme. In copper, Oyu Tolgoi continued to ramp up on schedule to deliver more than 30 per cent growth for the first half, while our integrated, large-scale aluminium business sustained its strong performance.

“At Simandou, we continue to advance at pace. SimFer mine construction and port infrastructure are both now more than three quarters complete, with full rail commissioning achieved in the first quarter. We are progressing our next generation of copper growth options at Resolution and Winu, while in lithium we achieved first production ahead of plan at Sal de Vida and Fénix 1B.

“We are driving a step-change in operational performance to deliver industry leading returns and growth for our shareholders."

Executive Summary

• Operational excellence: 3% YoY increase in copper equivalent (CuEq)1 production for the first half.
• Copper: Oyu Tolgoi ramp-up remains on track; H1 production delivered 31% YoY growth. Copper C1 net unit cost guidance has been reduced to US 30 - 50c/lb (from US 65 - 75c/lb).
• Iron ore: Q2 global iron ore sales were 89Mt, up 5% YoY. Q2 Pilbara sales up 7% YoY. SimFer mine construction and port infrastructure now both over three quarters complete.
• Aluminium: Resilience across the supply chain, with a strong recovery in bauxite.
• Lithium: Production rose 20% YoY in Q2 driven by the ramp-up at Rincon starter plant and delivery of first tonnes at Sal de Vida and Fénix 1B, ahead of plan.

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