Rio Tinto has reported a three per cent year-on-year increase in copper equivalent (CuEq) production for the first half of 2026, driven by growth its copper, iron ore, aluminium and lithium businesses.
The company’s operational highlights from its second quarter 2026 production results also included a 31 per cent year-on-year increase in first-half copper production at Oyu Tolgoi as the underground mine continued to ramp up on schedule.
Rio Tinto also reduced its copper C1 net unit cost guidance to US 30-50 cents per pound, down from US 65-75c/lb.
Global iron ore sales reached 88.8 million tonnes (Mt) during the second quarter, up five per cent year-on-year, while Pilbara iron ore sales climbed seven per cent to 85.3Mt.
Rio Tinto also reported resilience across its aluminium supply chain, supported by a strong recovery in bauxite. Alumina production increased 10 per cent year-on-year during the second quarter, while aluminium production remained steady.
Lithium carbonate equivalent production rose 20 per cent year-on-year in the second quarter, driven by the ramp-up of the Rincon starter plant and first production at the Sal de Vida and Fénix 1B projects ahead of schedule.
“Our scale, geographical diversification and sophisticated supply chains continue to underpin our resilience and strong operational performance despite ongoing geopolitical uncertainty throughout the period,” Rio Tinto chief executive Simon Trott said.
“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 program.
“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.”
Trott said the company continued to make progress on its major growth projects.
“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,” he said.
“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.”
