Rio Tinto Q3 copper output rises 27%, iron ore sales up 3%

Rio Tinto reported third-quarter 2026 production results, with Oyu Tolgoi copper output rising 27% year-over-year in the quarter and 29% year-to-date, running at an annualized rate of approximately 450,000 tonnes. Total consolidated copper production for the quarter was 205,000 tonnes, flat compared with Q3 2025.

Global iron ore sales reached 90.8 million wet metric tonnes in Q3, up 3% year-over-year, while Pilbara iron ore sales rose 2% to 85.7 million tonnes. Year-to-date global iron ore sales stand at 255.3 million tonnes, up 3% from the same period in 2025. Full-year guidance for global iron ore sales of 343–366 million tonnes remains unchanged.

The Simandou iron ore project in Guinea reached an annualized production run-rate of approximately 10 million tonnes per annum in the quarter and remains on track to reach a 60 million tonne per annum run-rate during the second half of 2028.

Lithium carbonate equivalent production rose 33% year-to-date to 40,300 tonnes, though Q3 output fell 11% sequentially due to adverse weather. Full-year lithium guidance of 61,000–64,000 tonnes is unchanged but tracking at the lower end.

Alumina production increased 10% year-over-year in Q3 to 2.1 million tonnes, while aluminium output edged down 2% to 0.8 million tonnes. Bauxite production declined 4% year-over-year to 15.7 million tonnes in the quarter.

According to the company's press release, Rio Tinto said it has achieved more than $2 billion in capital releases year-to-date as part of a $5–$10 billion capital release program, and remains on track to announce approximately $5 billion in total initiatives by end of 2026. Chief Executive Simon Trott said the company is targeting a $1.8 billion annualized productivity benefit run-rate by year-end.

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