Rio Tinto has reported a rise in global iron ore sales for the second quarter of 2026 (Q2 2026) to 89 million tonnes (mt), an increase of 5% compared to the same period last year. <\/p>\n
From its Pilbara operations, the company sold 85.3mt of the steel-making commodity in the quarter ending 30 June. <\/p>\n
Rio Tinto’s first-half sales totalled 157.7mt, up 5% from the previous year. However, the company will need a strong performance in the latter half of the year to meet its annual forecast of 323\u2013338mt. <\/p>\n
Average pricing at its Pilbara operations improved to $85.2 per wet tonne on a free-on-board basis from $83.2 last year. <\/p>\n
In contrast, overall copper production decreased by 7% in the June quarter to 213,000t. <\/p>\n
Production at the Escondida operations in Chile dropped by 13% due to lower ore grades. <\/p>\n
Meanwhile, Rio Tinto announced a reduction in its 2026 copper C1 net unit cost forecast to between $0.30 and $0.50\/lb, down from the previous estimate of $0.65\u2013$0.75, citing higher-than-anticipated gold prices and productivity improvements. <\/p>\n
The company reported operational resilience amid the ongoing Middle East conflict, noting no significant disruptions to production or outbound supply chains for its core commodities. <\/p>\n
Nevertheless, Rio Tinto is closely monitoring the situation in the Strait of Hormuz and has contingency plans in place for any potential escalation that could affect global energy or logistics markets. <\/p>\n
The company also disclosed a 20% year-on-year (YoY) increase in lithium production, attributed to the ramp-up at the Rincon starter plant and early deliveries at Sal de Vida and F\u00e9nix 1B. <\/p>\n
Rio Tinto CEO Simon Trott said: “We are delivering growth as we drive performance across the group, with copper equivalent production up 3% in the first half. <\/p>\n
“In the Pilbara, we achieved our highest first-half iron ore production since we set a record in 2018, through the successful implementation of our ongoing productivity improvement programme. <\/p>\n
“In copper, Oyu Tolgoi continued to ramp up on schedule to deliver more than 30% growth for the first half, while our integrated, large-scale aluminium business sustained its strong performance.” <\/p>\n