Australia Mines Boost Rio Tinto's Q1 Iron Ore Production

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Written by Amir Richani for IIR News Intelligence (Sugar Land, Texas)

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Summary

Rio Tinto saw higher iron ore and copper volumes in Q1, while its lithium unit operated steadily.

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Australia Drives Iron Ore

Rio Tinto reported another solid quarter, maintaining its year-end guidance. Iron ore production reached 82.8 million tonnes globally, up 12% year over year, driven mostly by its Pilbara assets in Australia, which accounted for 78.8 million tonnes, 13% higher, and the best first quarter since 2018. Iron ore global sales were 75.7 million tonnes, up 2%, with annual guidance unchanged at 343-366 million tonnes. According to Industrial Info Resources data, there are nearly US$8 billion worth of Rio Tinto projects presently under construction.

This strong operational performance was driven by investments at the Pilbara mines and by fewer weather-related impacts. Notably, these factors helped offset challenges, including a fatality at the Simandou mine that was inaugurated in 2025, which led to an operations shutdown followed by a month-long resumption.

Turning to copper, production reached 229,000 tonnes in Q1, up 9% from last year. The stronger performance is the result of ramp-up at the Oyu Tolgoi mine in Mongolia, where year-on-year output was 56% higher. The asset is on track to reach its 500,000-tonne-per-year production target from 2028 to 2036. Compared to Q4, Oyu Tolgoi recorded lower production due to a planned shutdown, resulting in lower ore milled.

Oyu Tolgoi began operations in 2011, and it is 66% owned by Rio Tinto, with the remaining shares held by the Mongolian government.

Meanwhile, Rio Tinto's share of the Escondida mine in Chile, the world's largest copper mine, recorded an output of 92,900 tonnes of copper (concentrates and refined) during Q1, lower than the 102,300 tonnes recorded during the same period last year.

For this year, Rio Tinto forecasts copper output of 800,000-870,000 tonnes.

"The unmatchable mix and scale of our portfolio has ensured growth and supply chain resilience against changing operating conditions as we continue to closely monitor the evolving situation in the Middle East. Our stronger, sharper, simpler way of working is enabling us to move at pace to achieve productivity benefits across the business. The first $650m of annualised benefits is now fully implemented, as promised, with substantially more underway," highlighted Simon Trott, Rio Tinto's chief executive officer.

Lithium, the New Kid on the Block

Rio Tinto's lithium operations, obtained through the company's acquisition of Arcadium in 2025, produced 12,700 tonnes in Q1, with an expected output between 61,000 and 64,000 tonnes in 2026.

The Olaroz and Fenix mines in Argentina were impacted by weather -related events, while the Rincon plant continued its ramp-up throughout the quarter.

Following the acquisition of Arcadium, Rio Tinto continued its expansion into new lithium projects, securing key agreements with Chilean state companies to jointly develop the Maricunga and Salares Altoandino salt flats.

Including those lithium projects, Industrial Info Resources is tracking 221 Rio Tinto-owned projects worldwide, amounting to U$36.6 billion.

Key Takeaways

• Rio Tinto's global iron ore output hit 82.8 million tonnes, 12% above last year.
• Copper output reached 229,000 tonnes in Q1, a 9% year-over-year increase.
• Industrial Info Resources is tracking 221 Rio Tinto projects globally.

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About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).