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Rio Tinto lifts Q1 output 9% as Simandou and Oyu Tolgoi drive growth

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Rio Tinto Limited ( (AU:RIO) ) just unveiled an update.

Rio Tinto reported a 9% year-on-year increase in copper-equivalent production for the first quarter of 2026, driven by the ramp-up of the Oyu Tolgoi copper mine, strong aluminium performance and robust Pilbara iron ore output, despite cyclone-related shipment disruptions. The group confirmed that all 2026 production, sales and unit cost guidance remains unchanged, highlighting portfolio resilience and limited operational impact so far from the Middle East conflict.

The miner achieved its first full SimFer shipment of high-grade Simandou iron ore to China and advanced drilling at the Resolution Copper project after a landmark land exchange, underscoring its push to grow in copper and premium iron ore. Management also said $650 million of annualised productivity benefits have now been fully implemented, with further efficiency gains targeted, while maintaining a sharpened focus on safety following two fatal incidents that temporarily halted operations at Simandou and Kennecott.

The most recent analyst rating on (AU:RIO) stock is a Buy with a A$183.00 price target. To see the full list of analyst forecasts on Rio Tinto Limited stock, see the AU:RIO Stock Forecast page.

More about Rio Tinto Limited

Rio Tinto Limited is a global mining and metals group with major operations in iron ore, copper, aluminium, bauxite and emerging lithium projects. The company runs large-scale assets such as its Pilbara iron ore mines in Australia, Oyu Tolgoi in Mongolia and integrated aluminium operations, supplying key raw materials to industrial customers worldwide, particularly in China and other major economies.

YTD Price Performance: 22.27%

Average Trading Volume: 1,564,264

Technical Sentiment Signal: Buy

Current Market Cap: A$236.9B

Find detailed analytics on RIO stock on TipRanks’ Stock Analysis page.

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