{"id":92404,"date":"2026-07-29T01:12:23","date_gmt":"2026-07-29T01:12:23","guid":{"rendered":"https:\/\/www.europesays.com\/britain\/92404\/"},"modified":"2026-07-29T01:12:23","modified_gmt":"2026-07-29T01:12:23","slug":"mega-miners-profit-up-as-iron-ore-copper-output-rises","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/britain\/92404\/","title":{"rendered":"Mega miner’s profit up as iron ore, copper output rises"},"content":{"rendered":"

Rio Tinto has reported a 47 per cent jump in bottom-line net profit. (Dean Lewins\/AAP PHOTOS)<\/p>\n

One of the world’s biggest miners has boosted its earnings after elevated production of iron ore and copper benefited from better commodity prices.<\/p>\n

Rio Tinto, which is one of Australia’s biggest corporate tax and royalties payers after handing over $9.5 billion in 2025, has reported a 47 per cent jump in bottom-line net profit to $US6.7 billion ($A9.6 billion).<\/p>\n

Its underlying earnings totalled $US6.9 billion ($A9.9 billion), which was better than market expectations of about $US6.6 billion ($A9.5 billion), for the half year ended June 30.<\/p>\n

\"Rio
\n Surging prices for copper and aluminium contributed to the company’s strong performance. (Richard Wainwright\/AAP PHOTOS)<\/p>\n

Rio Tinto boss Simon Trott said the results were a “step change” in the performance of the group, reflecting strong interim production and sales.<\/p>\n

“Our strong performance is underpinned by accelerating productivity across the business,” he said on Wednesday, referring to cost savings and efficiencies.<\/p>\n

“We have already banked $US870 million ($A1.2 billion) of productivity benefits and are on track to reach an annualised run-rate of $US1.8 billion ($A2.6 billion) by year-end, with significantly more to come.”<\/p>\n

In the half, free cash flow surged 75 per cent to $US3.83 billion ($A5.50 billion), helped by a three per cent increase in copper equivalent production.<\/p>\n

\"Rio
\n Simon Trott described the results as a “step change” in the performance of the group. (Dean Lewins\/AAP PHOTOS)<\/p>\n

Earlier this month, Rio Tinto reported that its Pilbara iron ore assets in Western Australia had their best first half in eight years, delivering a six per cent increase to 162.3 million tonnes compared to the same time last year.<\/p>\n

First-half group copper production totalled 442 kilotonnes while lithium output jumped 53 per cent to 27.3kt.<\/p>\n

Rio Tinto declared an interim dividend of $US2.11 per share, which was lower than market expectations of about $US2.17, although it was 43 per cent higher than that for the same period last year.<\/p>\n

License this article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Rio Tinto has reported a 47 per cent jump in bottom-line net profit. (Dean Lewins\/AAP PHOTOS) One of…\n","protected":false},"author":2,"featured_media":92405,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[20718],"tags":[11606,11607,583,11608,345,11610,11614,18,11611,11609,11612,12991,11613,46],"class_list":["post-92404","post","type-post","status-publish","format-standard","has-post-thumbnail","category-rio-tinto","tag-aap","tag-aapnews","tag-australia","tag-australian-news","tag-breaking-news","tag-daily-news","tag-global-news","tag-news","tag-news-app","tag-news-headlines","tag-news-today","tag-rio-tinto","tag-today-news","tag-world-news"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/117000610986363834","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/92404","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=92404"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/92404\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/92405"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=92404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=92404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=92404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}