Rio Tinto PLC $RIO (+2,71 %) reported largely stable annual iron ore volumes from Pilbara on Tuesday and reported "record fourth quarter production" from the region.
The London-based miner said iron ore production in Pilbara in 2025 fell 0.2% to 327.3 million tons from 328.0 million tons a year earlier, while shipments declined 0.7% to 326.2 million tons from 328.6 million tons. The result therefore remained within the forecast range of 323 million to 338 million tons.
Bauxite production rose by 6.3% year-on-year to 62.4 million tons from 58.7 million tons, exceeding the target of 61 million tons.
Alumina production increased by 3.9% to 7.6 million tons from 7.3 million tons and was thus within the forecast range of 7.4 million to 7.8 million tons, while aluminium production grew by 2.5% to 3.4 million tons from 3.3 million tons, approaching the upper end of the forecast of 3.25 million to 3.45 million tons.
Copper production rose by 11% to 883,000 tons from 793,000 tons, exceeding the expected range of 860,000 to 875,000 tons.
Quarter-on-quarter, iron ore shipments from Pilbara increased 6.5% to 91.3 million tons from 85.7 million tons in the fourth quarter ended December 31, while production reached a record 89.7 million tons, up 3.4% from 86.5 million tons in the same period last year.
Bauxite production remained stable at 15.4 million tons, alumina production decreased by 1.2% to 1.97 million tons from 1.99 million tons, and aluminum production increased by 1.5% to 852,000 tons from 837,000 tons.
Copper production rose by 5.3% to 240,000 tons from 228,000 tons.
Chief Executive Simon Trott said: "Our operations delivered exceptional production performance both quarter-on-quarter and year-on-year as we build on our strong foundation of operational excellence and project delivery across our portfolio. We achieved record production of iron ore in the Pilbara in the quarter, with a strong recovery from the extreme weather disruptions earlier in the year. At Simandou, we celebrated the important milestone of the first shipment from port; a testament to our ability to deliver major growth projects."
Looking ahead, Rio Tinto expects total iron ore shipments for 2026 to be between 343 million and 366 million tons, copper production in the range of 800,000 to 870,000 tons and bauxite production of 58 million to 61 million tons.
Alumina production is expected to be between 7.6 and 7.8 million tons and aluminium production between 3.25 million and 3.45 million tons.
Rio Tinto shares rose 1.1% to AUD147.96 in Sydney on Wednesday morning, while shares in London closed down 0.5% at 6,305.00 pence on Tuesday.
Source: Marketscreener
