Rio Tinto Reports a 1% Y/Y Increase in Q3 Iron Ore Production

Core Insights - Rio Tinto Group reported flat iron ore shipments of 84.3 million tons for Q3 2025, with a 6% sequential increase, marking the second-highest third-quarter shipment since 2019 [1] - Bauxite production rose 8.5% to 16.4 million tons, achieving a record quarterly production due to Amrun operating above capacity [2] - Mined copper production increased by 10% to 204 thousand tons, with significant contributions from Oyu Tolgoi and Escondida [3] Iron Ore Production - Total iron ore production for Q3 was 84.1 million tons, consistent with the previous year [1] - Rio Tinto's share of shipments was 71.4 million tons, down 1%, while its share in total production was 71.8 million tons, up 1% [1] Bauxite and Aluminum Production - Bauxite production reached a record 16.4 million tons, up 8.5% year over year, prompting an increase in full-year production guidance [2][9] - Aluminum output rose 6% to 857 thousand tons, with alumina production increasing by 7% to 1.9 million tons [2] Copper Production - Mined copper production was 204 thousand tons, a 10% increase year over year, with Oyu Tolgoi's production up 78% [3][9] - Production at Kennecott was significantly lower due to planned maintenance [3] Titanium Dioxide and Other Production - Titanium dioxide slag production declined by 1% due to weak market conditions [4] - Production at Iron Ore Company of Canada increased by 11% year over year [4] Production Guidance for 2025 - Rio Tinto expects Pilbara iron ore shipments to be at the lower end of 323-338 million tons due to cyclone impacts [5] - Bauxite guidance has been raised to 59-61 million tons from 57-59 million tons [5] - Alumina production is anticipated between 7.4 million tons and 7.8 million tons, while aluminum production is expected to be 3.25-3.45 million tons [6] Cost Guidance for 2025 - Pilbara iron ore unit cash costs are expected to be between $23.00 and $24.50 per ton [7] - Copper C1 unit costs are forecasted between $110 and $130 per pound [7] Share Price Performance - Over the past year, Rio Tinto's shares have gained 7.2%, compared to the industry's growth of 21.7% [8]