Solid performance while growth projects move ahead with pace
Rio Tinto Chief Executive Jakob Stausholm said: “We continued to see strong operational improvement with the Oyu Tolgoi copper mine and our bauxite operations delivering record months for production in March. Production was affected, however, by extreme weather events that impacted our Pilbara iron ore operations.
“We are making excellent progress with our major projects to deliver profitable organic growth. We achieved first iron ore at Western Range in the Pilbara and the Simandou high-grade iron ore project in Guinea remains on track. After successful completion of the Arcadium acquisition in March, we are advancing to establish a world-class lithium business.
“We will continue to drive progress towards our long-term strategy to deliver profitable growth, attractive shareholder returns and build a stronger, more diversified business.”
Executive Summary
- Production and cost guidance for the year on track, with Pilbara iron ore shipments expected to be at the lower end of guidance due to the losses sustained from extreme weather events in Q1.
- Oyu Tolgoi achieved record copper production in March in line with our underground mine ramp-up plan.
- Bauxite hit record first quarter production and a monthly production record in March.
-
World-class lithium business now up and running:
- Following completion of the Arcadium acquisition in March, we formed Rio Tinto Lithium, combining Arcadium assets and our Rincon project.
- Development of the Simandou high-grade iron ore project, on schedule, proceeding at an impressive pace.
-
Pilbara Iron Ore replacement projects progressing as expected:
- Western Range achieved first ore through the new crushing and conveying circuit, on plan.
- Brockman Syncline 1 investment approved ($1.8 billion) following receipt of all necessary approvals.
Production1 |
Quarter 1
|
vs Q1
|
vs Q4
|
2025
|
Guidance
|
||||
Pilbara iron ore shipments (100% basis) (Mt) |
70.7 |
-9% |
-17% |
323 to 338 |
Unchanged6 |
||||
Pilbara iron ore production (100% basis) (Mt) |
69.8 |
-10% |
-19% |
NA |
Unchanged |
||||
Bauxite (Mt) |
15.0 |
+12% |
-3% |
57 to 59 |
Unchanged |
||||
Alumina (Mt) |
1.9 |
+3% |
-4 % |
7.4 to 7.8 |
Unchanged |
||||
Aluminium2 (Mt) |
0.83 |
+0% |
-1% |
3.25 to 3.45 |
Unchanged |
||||
Copper (consolidated basis)3 (kt) |
210 |
+16% |
-8% |
780 to 850 |
Unchanged |
||||
Titanium dioxide slag (Mt) |
0.2 |
-12% |
-5% |
1.0 to 1.2 |
Unchanged |
||||
IOC4 iron ore pellets and concentrate (Mt) |
2.3 |
-11% |
-9% |
9.7 to 11.4 |
Unchanged |
||||
Boric oxide equivalent (Mt) |
0.1 |
-4% |
-11% |
~0.5 |
Unchanged |
||||
1 Rio Tinto share unless otherwise stated. 2 Includes primary aluminium only. 3 From Q1 2025, we report copper production and guidance as one metric, in order to simplify reporting and align with peer practices. For further details see slide 90 of our Investor Seminar 2024 presentation. 4 Iron Ore Company of Canada. 5 See further notes in Section 2, 2025 guidance. 6 At the lower end of guidance. |
|||||||||
The full first 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
View source version on businesswire.com: https://www.businesswire.com/news/home/20250415416644/en/
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