Rio Tinto lifts production forecast for bauxite, hails Oyu Tolgoi mine

Rio Tinto PLC on Tuesday reported it has left the bulk of its output guidance for 2025 unchanged, but has lifted its production forecast for bauxite.

The miner said third-quarter Pilbara iron ore shipments and production were flat on-year, while bauxite production was 9% higher.

Alumina output rose 7% and aluminium production was 6% higher, it added. Copper was up 10%.

"We continue to strengthen performance from our assets, setting back-to-back quarterly production records in our bauxite business and at Oyu Tolgoi [Mongolia] - where the underground ramp-up remains on track to boost copper output by more than 50% this year," Chief Executive Simon Trott said.

"We are focused on delivering a strong finish to the year from the Pilbara [Western Australia]. Our growth projects are also progressing at pace - at Simandou [Guinea], we started loading first ore at the mine for movement down the rail and to the port in October." Simandou is an iron ore project.

Rio Tinto said it has upped its 2025 bauxite output guide to 59 to 61 million tonnes, from the 57 to 59 million range previously, and up a notch from 58.7 million tonnes in 2024. The rest of its forecast was unchanged, though it now expects Pilbara iron ore shipments at the lower end of its 323 to 338 million tonnes range after "cyclone impacts" in the first quarter, and similar to 328.6 million tonnes in 2024.