Rio Tinto (RIO) has reported a 3% year-on-year increase in copper equivalent production for the first half of 2026, maintaining its full-year guidance across core commodities. The company highlighted strong iron ore performance in the Pilbara region and continued output growth at the Oyu Tolgoi copper mine in Mongolia, which delivered a 31% increase in production compared to the same period last year. Infrastructure development at the massive Simandou project is advancing, with both the mine and port facilities now over 75% complete.

Reflecting on the company’s ability to manage global logistical challenges, management emphasised the stability provided by its diversified portfolio.

"We are delivering growth as we drive performance across the group, with copper equivalent production up 3 per cent in the first half. Our scale, geographical diversification and sophisticated supply chains continue to underpin our resilience and strong operational performance despite ongoing geopolitical uncertainty throughout the period."

"We are driving a step-change in operational performance to deliver industry leading returns and growth for our shareholders."
— Simon Trott, Chief Executive

While group-wide performance remains robust, the company is managing specific operational adjustments at its Kennecott copper asset. A flash converting furnace breach occurred in June, necessitating an unplanned outage for repairs. The company anticipates a full rebuild of the unit will take approximately 75 days, with the process expected to conclude later in 2026. While this will affect refined copper and gold output in the second half, management confirmed that mining and concentrator operations will continue, and total copper production estimates for the year remain unchanged as the site produces marketable matte as an intermediate product.

Concurrent with these repairs, the Kennecott team is finalising geotechnical management efforts to improve operational efficiency. These activities are designed to restore full access to primary mining areas during the second half of 2026. To support these higher mining rates and bolster production performance, the company has successfully returned an additional 12 haul trucks to active service.

Looking across other divisions, the lithium sector showed progress with a 20% year-on-year production increase, bolstered by the ramp-up at the Rincon starter plant and the delivery of first tonnes from the Sal de Vida and Fénix 1B projects ahead of schedule. Global iron ore sales also demonstrated strength, rising 5% on a year-on-year basis, reflecting the effectiveness of productivity programs implemented across the group’s Australian operations.

Read the full announcement: Rio Tinto releases second quarter production results