Rio Tinto Q2 Pilbara Iron Ore Output Rises 5% to 83.7 Million Tons

Rio Tinto reported its highest second-quarter iron ore output from its Pilbara operations since 2018, producing 83.7 million metric tons, a 5% increase year-over-year, despite shipments declining 1% to 79.9 million tons. The company rebounded from cyclone disruptions in the first quarter and maintains its annual shipment guidance between 323 million and 338 million tons. Additionally, Rio Tinto flagged approximately $300 million in gross costs related to U.S. tariffs on Canadian aluminum exports, with tariff impacts partially offset by increased U.S. metal premiums. The company also highlighted strong production growth across other commodities, including a 13% increase in copper equivalent production, record bauxite output, and progress at the Oyu Tolgoi copper mine and Simandou iron ore project. CEO Jakob Stausholm emphasized Rio Tinto's strategic focus on diversification and profitable growth to build a stronger business. These operational successes enhance Rio Tinto's market positioning and long-term growth prospects.