Rio Tinto copper production surges 27% in Q3

• Rio Tinto reported strong operational growth, highlighted by a 27% year-on-year increase in third-quarter copper production.
• The company maintained all full-year 2026 production guidance metrics across its major commodity lines.
• Rio Tinto continues executing its strategic decarbonisation steps alongside a target US$5 to US$10 billion capital release programme.

Rio Tinto (ASX:RIO) reported a 27% year-on-year surge in third-quarter copper production driven by performance at Oyu Tolgoi.

The mining company maintained its full-year 2026 guidance, keeping copper production targets between 800 and 870 kilotonnes.

"We remain on track for a US$1.8 billion annualised productivity benefit run-rate by the end of 2026. Our major projects remain on schedule and budget, underwriting our growth profile to 2030," said Rio Tinto CEO Simon Trott.

The company stated it achieved over US$2 billion in capital release year-to-date under its broader US$5 to US$10 billion capital management programme.

Following the announcement, the Rio Tinto share price was down at $161.

The group continued ramping up operations at Simandou, reaching an annualised iron ore production rate of ~10 million tonnes per annum in the quarter.

Rio Tinto also completed the rebuild of the flash-converting furnace at Kennecott ahead of schedule.