Rio Tinto (LSE:RIO) reported a 9% year‑on‑year rise in copper‑equivalent production in the first quarter, powered by Oyu Tolgoi’s ramp, a strong aluminium chain and higher Pilbara iron ore volumes.
Copper production rose 9% YoY. The company completed the historic land exchange at Resolution and has started drilling. Simandou achieved its first full SimFer shipment to China, with initial sales realised in April. Pilbara output was the second highest Q1 since 2018, up 13% YoY; shipments were hit by two cyclones, roughly 8 Mt affected with about half expected to be recovered.
Lithium projects Fenix 1B and Sal de Vida reached mechanical completion as planned; first production remains on track for H2 2026. Rio Tinto (LSE:RIO) said it has fully implemented the first $650m of annualised productivity benefits and is pursuing further improvements.
