Rio Tinto’s Q2 production report, released today, reveals bauxite production at 15.6 million tonnes, a 5% increase compared to the same period last year, marking the second consecutive quarterly production record. Alumina production also saw an impressive 8% year-over-year increase, reaching 1.8 million tonnes.
The standout performer was mined copper, which surged by 15% to 229,000 tonnes, primarily fueled by the ongoing ramp-up of the Oyu Tolgoi mine in Mongolia. This mine is strategically positioned to become the world’s fourth-largest copper mine by the end of the decade, with projected average annual production of around 500,000 tonnes between 2028 and 2036.
Pilbara iron ore production also rebounded strongly, reaching 79.9 million tonnes, the highest Q2 output since 2018, signifying a recovery from weather-related disruptions experienced in previous periods.
Outgoing CEO Jakob Stausholm lauded the company’s operational performance, emphasizing the progress made on key growth projects, most notably the Simandou iron ore project in Guinea. The first shipment from Simandou has been accelerated to November 2025, with anticipated shipments of 0.5 to 1.0 million tonnes in 2025, a significant step towards diversifying Rio Tinto’s iron ore sources and tapping into high-grade reserves.
“We delivered excellent operational performance from our mine operations with record production from our bauxite business and from Oyu Tolgoi as it ramps up”
Stausholm reiterated the company’s commitment to profitable growth and building a more diversified business, setting the stage for his successor, Simon Trott, who is slated to take the helm on August 25, 2025. Trott, a Rio Tinto veteran with over two decades of experience, most recently led the iron ore division, signaling a continuity of strategic focus.
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Rio’s share price was relatively calm on the day, ending with gains of 0.22%, and bringing the rebound off recent 52 week lows to ~10%.
The comnpany’s strategic foray into lithium, following the acquisition of Arcadium Lithium in March 2025, further diversifies its portfolio and positions the company as the world’s third-largest lithium miner. This move aligns with the growing demand for battery materials in the electric vehicle sector, providing a long-term growth opportunity for the company.
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