Rio Tinto Unveils Q1 2025 Production Results

Rio Tinto Chief Executive Jakob Stausholm said: "We continued to see strong operational improvement with the Oyu Tolgoi copper mine and our bauxite operations delivering record months for production in March. Production was affected, however, by extreme weather events that impacted our Pilbara iron ore operations.

"We are making excellent progress with our major projects to deliver profitable organic growth. We achieved first iron ore at Western Range in the Pilbara and the Simandou high-grade iron ore project in Guinea remains on track. After successful completion of the Arcadium acquisition in March, we are advancing to establish a world-class lithium business.

"We will continue to drive progress towards our long-term strategy to deliver profitable growth, attractive shareholder returns and build a stronger, more diversified business."

Executive Summary

• Production and cost guidance for the year on track, with Pilbara iron ore shipments expected to be at the lower end of guidance due to the losses sustained from extreme weather events in Q1.
• Oyu Tolgoi achieved record copper production in March in line with our underground mine ramp-up plan.
• Bauxite hit record first quarter production and a monthly production record in March.
• World-class lithium business now up and running:
  • Following completion of the Arcadium acquisition in March, we formed Rio Tinto Lithium, combining Arcadium assets and our Rincon project.
• Development of the Simandou high-grade iron ore project, on schedule, proceeding at an impressive pace.
• Pilbara Iron Ore replacement projects progressing as expected:
  • Western Range achieved first ore through the new crushing and conveying circuit, on plan.
  • Brockman Syncline 1 investment approved ($1.8 billion) following receipt of all necessary approvals.