Rio Tinto has reported strong production figures, with its second-highest September quarter iron ore shipments since 2019. The mining giant shipped 84.3 million tonnes of iron ore during the quarter, a 6 per cent increase compared to the previous quarter. Rio Tinto is a leading global mining group that focuses on finding, mining, and processing the Earth’s mineral resources. The company supplies the world with the materials essential for human progress.
Despite the positive iron ore results, Rio Tinto anticipates its 2025 iron ore shipments to be at the lower end of its guidance range of 323 to 338 million tonnes. This adjustment is due to production losses experienced earlier in the year as a result of cyclone activity. According to Rio Tinto chief executive Simon Trott, the company is focused on a strong finish to the year in the Pilbara region, with growth projects progressing rapidly, including the commencement of ore loading at the Simandou mine in October.
The company has upgraded its full-year bauxite production guidance from 57-59 million tonnes to 59-61 million tonnes, following a 9 per cent increase in bauxite production to 16.4 million tonnes in the third quarter compared to the same period last year. Copper equivalent production also saw a 9 per cent increase in the third quarter compared to last year, putting total copper output on track to meet the higher end of its full-year guidance.
Trott added that Rio Tinto continues to strengthen its asset performance, noting consecutive quarterly production records in its bauxite business and at Oyu Tolgoi. The underground ramp-up at Oyu Tolgoi remains on track to boost copper output by more than 50 per cent this year.
