Rio Tinto(US:RIO) Zhi Tong Cai Jing·2026-01-21 02:32Core Insights - Rio Tinto (RIO.US) reported a 5% increase in copper production in Q4, primarily due to the expansion of underground operations at the Oyu Tolgoi copper mine in Mongolia [1] - The Pilbara iron ore operations set a production record in the last three months of the previous year, with iron ore remaining the largest revenue source for the company [1] - The company must announce its acquisition intentions by February 5 to avoid forfeiting the opportunity to acquire [1] Group 1: Copper Production - The Escondida copper mine in Chile, the largest in the world, saw a 10% decrease in production compared to the same period in 2024 due to lower output from the concentrator and reduced ore grades [1] - In contrast, the Oyu Tolgoi copper mine's production increased by 57% year-on-year, offsetting the decline from Escondida [1] Group 2: Iron Ore and Other Commodities - Iron ore exports increased by 7% to 91.3 million tons in Q4, although the annual export volume was below expectations due to recovery from adverse weather conditions [1] - The company began exporting iron ore from the newly constructed Simandou mine in Guinea in Q4, with expected sales of 5 to 10 million tons by 2026, a small fraction of the anticipated 323 to 338 million tons from the Pilbara region this year [1] - Other commodities saw a 2% increase in aluminum production, while lithium production reached a record high, aided by exports from Argentina [1] - The company's small titanium business, which is planned for divestment, experienced a 6% decline in production [1] Group 3: Management Focus - Since the appointment of new CEO Simon Trott, the company has been focused on refocusing its business, cutting costs, and controlling its previous ambitions in the lithium sector [2] - Trott stated that the company is implementing more efficient and streamlined working methods, which have already yielded positive results [2]