Rio Tinto has reported a rise in global iron ore sales for the second quarter of 2026 (Q2 2026) to 89 million tonnes (mt), an increase of 5% compared to the same period last year.
From its Pilbara operations, the company sold 85.3mt of the steel-making commodity in the quarter ending 30 June.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Rio Tinto’s first-half sales totalled 157.7mt, up 5% from the previous year. However, the company will need a strong performance in the latter half of the year to meet its annual forecast of 323–338mt.
Average pricing at its Pilbara operations improved to $85.2 per wet tonne on a free-on-board basis from $83.2 last year.
In contrast, overall copper production decreased by 7% in the June quarter to 213,000t.
Production at the Escondida operations in Chile dropped by 13% due to lower ore grades.
Meanwhile, Rio Tinto announced a reduction in its 2026 copper C1 net unit cost forecast to between $0.30 and $0.50/lb, down from the previous estimate of $0.65–$0.75, citing higher-than-anticipated gold prices and productivity improvements.
The company reported operational resilience amid the ongoing Middle East conflict, noting no significant disruptions to production or outbound supply chains for its core commodities.
Nevertheless, Rio Tinto is closely monitoring the situation in the Strait of Hormuz and has contingency plans in place for any potential escalation that could affect global energy or logistics markets.
The company also disclosed a 20% year-on-year (YoY) increase in lithium production, attributed to the ramp-up at the Rincon starter plant and early deliveries at Sal de Vida and Fénix 1B.
Rio Tinto CEO Simon Trott said: “We are delivering growth as we drive performance across the group, with copper equivalent production up 3% in the first half.
“In the Pilbara, we achieved our highest first-half iron ore production since we set a record in 2018, through the successful implementation of our ongoing productivity improvement programme.
“In copper, Oyu Tolgoi continued to ramp up on schedule to deliver more than 30% growth for the first half, while our integrated, large-scale aluminium business sustained its strong performance.”
In June 2026, cargo shipments from Rio Tinto’s Oyu Tolgoi copper mine in Mongolia were disrupted following a road blockade by protesters.
