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Rio Tinto beats forecasts with bumper fourth quarter output
(Sharecast News) - Rio Tinto reported a bumper fourth quarter on Wednesday, with iron ore production from Pilbara and total copper output beating analysts' estimates to reach new records, as the company met or exceeded full-year guidance across all major product groups. "Our operations delivered exceptional production performance, both on a quarter-on-quarter and full year basis, as we leverage our strong foundation of operating excellence and project delivery across our portfolio," said chief executive Simon Trott.
The company, which is currently in merger talks with Glencore to create the world's largest mining group, said its extensive Pilbara operation in Western Australia produced 89.7m tonnes of iron ore during the fourth quarter, up 4% over the year before, while shipments increased 7% to 91.3mt. That was comfortably ahead of the 88.2mt expected by analysts.
The fourth quarter also saw the start of operations and first shipment at its Simandou iron ore project in Guinea.
However, full-year iron ore output was 327.3mt, flat compared with 2024 but in line with company guidance.
Copper equivalent production was up 8% year-on-year at 240,000 tonnes, driven by the strong ramp-up of Oyu Tolgoi in Mongolia, ahead of the 214,400 tonnes expected by the market. That helped annual copper production exceed the top end of its increased guidance range.
Meanwhile, aluminium production was up 2% over the fourth quarter, driving full-year output up 3% to 3.38mt and at the upper end of guidance. Bauxite production was flat in the quarter but also reached a record-high 62.4mt, beating guidance.
"Implementation of our stronger, sharper, simpler way of working continues, and is delivering results and creating value," Trott said.
The fourth quarter also benefitted from a jump in commodity prices across the board: iron ore prices rose 5% over the final three months of 2025, while copper surged 22%, aluminium jumped 11% and lithium carbonate surged 55%.
Rio Tinto shares were trading 3.5% higher at 6,535p by 0828 GMT.
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