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Copper
Tough but malleable, corrosion-resistant and recyclable, and an excellent conductor of heat and transmitter of electricity
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Lightweight and infinitely recyclable, aluminium is found in everything from jet engines to electric vehicles to mobile phones
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Oyu Tolgoi
One of the most modern, safe and sustainable operations in the world
Simandou Project
The world’s largest untapped high-grade iron ore deposit
Western Australia
While iron ore is central to our operations in WA, we have a diverse presence across the state, from salt, lithium, our diamond legacy and our promising copper-gold project
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We aim to deliver superior returns to our shareholders while safeguarding the environment and meeting our obligations to wider society
2026 Third Quarter Operations Review
Announced on Wednesday 14 October 2026
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Strong operational performance at Oyu Tolgoi copper and Pilbara iron ore
MELBOURNE, Australia--(BUSINESS WIRE)-- Rio Tinto Chief Executive Simon Trott said: “We delivered strong operational performance in the third quarter. Oyu Tolgoi copper production increased 29% year-to-date, with the operation running at a ~450 kt annualised rate in the quarter, and global iron ore sales are up 3% year-to-date. The Simandou iron ore mine hit an annualised production run-rate of ~10 Mtpa (100% basis) in the quarter as the project continues to ramp up.
“We are finishing the year with momentum, with significant opportunities to accelerate improvements in safety, productivity and reliability through implementation of our operating system. We remain on track for a $1.8 billion annualised productivity benefit run-rate by the end of 2026. Our major projects remain on schedule and budget, underwriting our growth profile to 2030.
“We made further significant steps in decarbonising our business in the third quarter, with our Pacific Aluminium smelter repowering arrangements now well progressed.
“Today, we announce that we have achieved more than $2 billion1 of capital release year-to-date, as we actively manage our portfolio with discipline to maximise long-term value, as part of the $5 to 10 billion capital release program.”
Executive Summary
Production and sales⁴
Quarter 3 2026
vs Q3 2025
vs Q2 2026
9mths 2026
vs 9mths 2025
2026 guidance¹²
Guidance status
Copper production (consolidated basis) (kt)
205
0%
-4%
646
+1%
800-870
Unchanged
Global iron ore production⁵ (100% basis) (Mt¹¹)
89.7
+2%
+3%
259.6
+4%
NA
NA
Pilbara iron ore production (100% basis) (Mt¹¹)
83.4
-1%
0%
245.7
+3%
NA
NA
Global iron ore sales⁶ (100% basis) (Mt¹¹)
90.8
+3%
+2%
255.3
+3%
343-366
Unchanged
Pilbara iron ore sales⁷ (100% basis) (Mt¹¹)
85.7
+2%
0%
243.3
+4%
323-338
Unchanged
Bauxite production (Mt)
15.7
-4%
+4%
44.2
-6%
58-61
Unchanged
Alumina production⁸ (Mt)
2.1
+10%
+3%
6.1
+9%
7.6-8.0
Unchanged
Aluminium production⁹ (Mt)
0.8
-2%
0%
2.52
0%
3.25-3.45
Unchanged
Lithium carbonate equivalent (LCE) production¹⁰ (kt)
13.0
+4%
-11%
40.3
+33%
61-64
Unchanged at lower end
Footnotes
1 Announced year-to-date. Completion and cash receipt is subject to entry into binding agreements and satisfaction of conditions precedent. We remain on track to announce around $5 billion in total of capital release initiatives by end 2026.
2 Copper equivalent (CuEq) volume = Rio Tinto’s share of production volume / Volume conversion factor x Product price ($/t) / Copper price ($/t). Prices are based on long-term consensus prices.
3 The estimated annualised capacity of approximately 60 million dry tonnes per annum iron ore for the Simandou life of mine schedule was previously reported in a release to the Australian Securities Exchange (ASX) dated 6 December 2023 titled “Investor Seminar Presentation”. Rio Tinto confirms that all material assumptions underpinning that production target continue to apply and have not materially changed.
4 Rio Tinto share unless otherwise stated.
5 Iron Ore production for Pilbara operations and Iron Ore Company of Canada (IOC) refers to saleable production (after crushing, screening and beneficiation). For Simandou, it represents ore ready for train loading at the SimFer mine gate: final (tertiary) crushing of Simandou ore takes place in China.
6 Includes all shipments from Pilbara and IOC, including those to our Portside trading business; excludes shipments from our Portside trading business. At our Dec-2025 Capital Markets Day, we announced the move to guide on global iron ore sales (100%): indicated sales ranges (all on 100% basis) - Pilbara of 323 - 338 Mt, IOC of 15 - 18 Mt and Simandou of 5 - 10 Mt. For the Simandou value chain to China: at full production targeting a ~75-to-90-day cycle, with customer collection up to a further 30 days (mine to recognised sales).
7 Pilbara iron ore sales range remains subject to the timing of approvals for planned mining areas and heritage clearances.
8 QAL production included on a 100% basis.
9 Includes primary aluminium only.
10 Year-to-date 2025 represents production since March following completion of the Arcadium acquisition. Q1 2025 LCE production was 5.6kt (6.5kt on a 100% basis); LCE shipments were 3.8kt (5.0kt on a 100% basis).
11 Wet metric tonnes.
12 See further notes in Section 2, 2026 guidance.
The full third quarter production results are available here.
This announcement is authorised for release to the market by Matthew Whyte, Rio Tinto’s Group Company Secretary.
UK LEI: 213800YOEO5OQ72G2R82 AU LEI: 529900X2VMAQT2PE0V24
Classification: 3.1 Additional regulated information required to be disclosed under the laws of a Member State
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