The Anglo-Australian mining group Rio Tinto has reported its third-quarter 2026 results, highlighting strong operational performance.
According to Chief Executive Simon Trott, the company’s flagship Oyu Tolgoi mine in Mongolia reached an annualized production rate of approximately 450,000 tonnes of copper during the quarter, driven by a 29% increase in underground mining output.
Global iron ore sales for the year to date rose by 3% to 90.8 million tonnes, with sales from Pilbara project in north-western Australia increasing by 2% compared to the same period last year.
At the Simandou iron ore project, the annualized production rate reached approximately 10 million tonnes per year during the quarter—double the projected level—as the project continues to ramp up capacity toward its target of 60 million tonnes per year by the second half of 2028.
"We are finishing the year with momentum, with significant opportunities to accelerate improvements in safety, productivity and reliability through implementation of our operating system," Trott said. "We remain on track for a $1.8 billion annualised productivity benefit run-rate by the end of 2026. Our major projects remain on schedule and budget, underwriting our growth profile to 2030."
According to Trott, a number of additional measures to decarbonize the business were implemented in the third quarter. Efforts to modernize aluminium smelters in the Pacific region are now well underway, following the conclusion of energy supply agreements for the Tomago and Bell Bay sites during the third quarter.
Lithium production has increased by 33% year-to-date, despite adverse weather conditions that impacted operations in the third quarter. The ramp-up of production at the Fenix 1B site in Argentina continues to progress successfully.
Since the beginning of the year, the group has successfully raised over $2 billion in capital.
Hélène Tarin, Editor-in-Chief of the Asian Bureau, Rough&Polished
