Rio Tinto Ltd delivered a mixed performance in the March quarter of 2025, with strong output from its copper and bauxite operations offset by significant weather-related disruptions in iron ore production and shipments in Western Australia.
Quarter highlights
Copper production rose 16% year-on-year to 210,000 tonnes, with record monthly output at the Oyu Tolgoi underground mine in March.
- Bauxite reached a record for a March quarter at 15 million tonnes.
- Pilbara iron ore shipments dropped 9% to 70.7 million tonnes due to four cyclones, with 13 million tonnes lost. Mitigation efforts are expected to recover around half that volume at a cost of approximately A$150 million.
- Production guidance for 2025 remains unchanged, with Pilbara iron ore shipments likely at the lower end of the range.
Strategic growth and lithium entry
Rio Tinto’s lithium strategy accelerated with the completion of the Arcadium acquisition in March. The new Rio Tinto Lithium business combines Arcadium’s assets and the Rincon project, which is progressing towards commissioning.
Key capital projects are advancing:
- Western Range achieved first ore in March.
- Brockman Syncline 1 secured regulatory approvals for A$1.8 billion in development.
- Simandou in Guinea remains on schedule, with major construction works across mine, rail and port infrastructure well underway.
Market conditions
Commodities generally held steady. Iron ore prices rose slightly, copper strengthened on robust demand and tight smelter capacity, while aluminium prices were mixed. Global lithium demand rose 30% year-on-year, driven by electric vehicle sales.
Rio Tinto continues to target diversified, profitable growth across its portfolio while navigating short-term operational challenges and advancing its energy transition ambitions.