Highlights

  • Oyu Tolgoi copper production rose 29% year to date, with an approximately 450kt annualised quarterly rate.
  • Global iron ore sales increased 3% year to date as Pilbara operations maintained strong performance.
  • Simandou reached an approximately 10Mtpa annualised run rate on a 100% production basis.
  • Rio Tinto maintained its US$1.8B annualised productivity benefit run-rate target for the end of 2026.

Rio Tinto Limited (ASX:RIO) is in focus following developments spanning copper production builds at oyu tolgoi and iron ore sales and simandou progress. The company’s latest reporting and announcements provide the operating context for its next milestones. Shares closed at AUD 145.51 on 3 November 2026, a -0.06% change for the session, with Market Capitalisation of approximately AUD 54.1B. The developments and market figures describe different aspects of the Business and do not establish a direct cause for the day’s price movement.

Copper Production Builds at Oyu Tolgoi

Rio Tinto reported that copper production at Oyu Tolgoi increased 29% year to date in its third-quarter 2026 operational review. The operation ran at an approximately 450kt annualised production rate during the quarter. The update reflects the contribution of the Mongolian operation to Rio Tinto’s expanding copper business.

Oyu Tolgoi's copper production increased 29% year to date, with operations reaching an approximately 450kt annualised rate during the quarter. That rate describes the pace achieved in the period, not a guarantee of full-year output. Rio Tinto also reported global iron ore sales growth of 3% year to date. Together, the measures illustrate why the copper and iron ore divisions are central to the company's operational agenda.

Iron Ore Sales and Simandou Progress

Global iron ore sales were 3% higher year to date. At Simandou, the iron ore mine reached an annualised production run rate of approximately 10Mtpa on a 100% basis as the project continued its ramp-up. Rio Tinto also reported strong operational performance in the Pilbara, connecting established iron ore operations with its newer production development.

At Simandou, the mine reached an approximately 10Mtpa annualised production run rate on a 100% basis as ramp-up continued. Rio Tinto also maintained its objective of a US$1.8B annualised productivity benefit run rate by the end of 2026. Both are forward-looking operating measures requiring continued execution. Separately, a seismic event at Oyu Tolgoi on 29 October prompted a safety pause and subsequent progressive restart after reviews, underscoring the importance of operating continuity.

Productivity Program Approaches Its Target

The group reiterated that it remained on track to achieve a US$1.8B annualised productivity benefit run rate by the end of 2026. Management identified safety, productivity and reliability improvements as continuing priorities. The company said its major projects remained on schedule and budget, supporting its growth profile through 2030.

Aluminium and Next Steps

Rio Tinto also advanced repowering arrangements for its Pacific Aluminium smelters during the quarter. These arrangements sit alongside work across iron ore and copper rather than replacing those operating priorities. Attention now turns to further Simandou ramp-up, productivity delivery and maintaining operating performance across the portfolio.