Solid performance while growth projects move ahead with pace

MELBOURNE, Australia--(BUSINESS WIRE)--April 15, 2025-- 

Rio Tinto Chief Executive Jakob Stausholm said: "We continued to see strong operational improvement with the Oyu Tolgoi copper mine and our bauxite operations delivering record months for production in March. Production was affected, however, by extreme weather events that impacted our Pilbara iron ore operations.

"We are making excellent progress with our major projects to deliver profitable organic growth. We achieved first iron ore at Western Range in the Pilbara and the Simandou high-grade iron ore project in Guinea remains on track. After successful completion of the Arcadium acquisition in March, we are advancing to establish a world-class lithium business.

"We will continue to drive progress towards our long-term strategy to deliver profitable growth, attractive shareholder returns and build a stronger, more diversified business."

Executive Summary

   -- Production and cost guidance for the year on track, with Pilbara iron ore 
      shipments expected to be at the lower end of guidance due to the losses 
      sustained from extreme weather events in Q1. 
 
   -- Oyu Tolgoi achieved record copper production in March in line with our 
      underground mine ramp-up plan. 
 
   -- Bauxite hit record first quarter production and a monthly production 
      record in March. 
 
   -- World-class lithium business now up and running: 
 
          -- Following completion of the Arcadium acquisition in March, we 
             formed Rio Tinto Lithium, combining Arcadium assets and our Rincon 
             project. 
 
   -- Development of the Simandou high-grade iron ore project, on schedule, 
      proceeding at an impressive pace. 
 
   -- Pilbara Iron Ore replacement projects progressing as expected: 
 
          -- Western Range achieved first ore through the new crushing and 
             conveying circuit, on plan. 
 
          -- Brockman Syncline 1 investment approved ($1.8 billion) following 
             receipt of all necessary approvals. 
 
                   Quarter 1  vs Q1  vs Q4          2025      Guidance 
Production(1)           2025   2024   2024   guidance(5)        status 
Pilbara iron ore 
 shipments (100% 
 basis) (Mt)            70.7    -9%   -17%    323 to 338  Unchanged(6) 
Pilbara iron ore 
 production (100% 
 basis) (Mt)            69.8   -10%   -19%            NA     Unchanged 
Bauxite (Mt)            15.0   +12%    -3%      57 to 59     Unchanged 
Alumina (Mt)             1.9    +3%   -4 %    7.4 to 7.8     Unchanged 
Aluminium(2) (Mt)       0.83    +0%    -1%  3.25 to 3.45     Unchanged 
Copper 
 (consolidated 
 basis)(3) (kt)          210   +16%    -8%    780 to 850     Unchanged 
Titanium dioxide 
 slag (Mt)               0.2   -12%    -5%    1.0 to 1.2     Unchanged 
IOC(4) iron ore 
 pellets and 
 concentrate 
 (Mt)                    2.3   -11%    -9%   9.7 to 11.4     Unchanged 
Boric oxide 
 equivalent (Mt)         0.1    -4%   -11%          0.5     Unchanged 
(1) Rio Tinto share unless otherwise stated. (2) Includes primary 
aluminium only. (3) From Q1 2025, we report copper production and 
guidance as one metric, in order to simplify reporting and align with 
peer practices. For further details see slide 90 of our Investor 
Seminar 2024 presentation. (4) Iron Ore Company of Canada. (5) See 
further notes in Section 2, 2025 guidance. (6) At the lower end of 
guidance. 
 
 

The full first quarter production results are available here

This announcement is authorised for release to the market by Andy Hodges, Rio Tinto's Group Company Secretary.

LEI: 213800YOEO5OQ72G2R82

Classification: 3.1 Additional regulated information required to be disclosed under the laws of a Member State

View source version on businesswire.com: https://www.businesswire.com/news/home/20250415416644/en/

 
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(END) Dow Jones Newswires

April 15, 2025 18:26 ET (22:26 GMT)