Diversified miner Rio Tinto Group delivered a strong second-quarter operational performance, with group-wide copper equivalent production up 13% year-on-year, underpinned by solid gains across its copper, bauxite, iron-ore and titanium businesses.

The miner maintained its 2025 production and cost guidance across all key commodities and upgraded its copper outlook to the upper end of forecasts.

“We delivered excellent operational performance from our mine operations with record production from our bauxite business and from Oyu Tolgoi as it ramps up to become the world’s fourth largest copper mine before the end of the decade,” said outgoing CEO Jakob Stausholm on Wednesday.

“We continue to make strong progress in our production and growth projects, achieving our highest Pilbara second-quarter production since 2018 and accelerating the first shipment from the Simandou high-grade iron-ore project in Guinea.”

Iron-ore shipments from the Pilbara reached 79.9-million tonnes, up 13% from the first quarter but down 1% year-on-year, as operations recovered from severe weather in early 2025. Production totalled 83.7-million tonnes, up 5% year-on-year and 20% sequentially, marking the strongest second-quarter performance in seven years.

However, Rio continues to expect full-year shipments at the lower end of its 323-million- to 338-million-tonne guidance, citing continued weather risks and approval timelines.

Copper output climbed 15% year-on-year to 229 000 t, driven by the ramp-up at Oyu Tolgoi in Mongolia and stable performance at Escondida in Chile. Rio said full-year production was now tracking toward the upper end of its 780 000 t to 850 000 t guidance, while unit costs were expected at the lower end of $130/lb to $150/lb, supported by gold by-product credits and higher volumes.

Bauxite output set another quarterly record at 15.6-million tonnes, up 6% year-on-year and expected at the top of the 57-million- to 59-million-tonne guidance range, following strong operational momentum. Alumina production rose 8% year-on-year to 1.8-million tonnes, while aluminium output gained 2% to 0.84-million tonnes.

Rio Tinto said it incurred about $300-million in gross costs tied to US aluminium tariffs on Canadian product during the first half of 2025. While a “substantial part” had been offset by higher premiums on US sales when the 25% tariff was introduced in March, the premium could no longer fully compensate when the Trump administration last month doubled tariffs on Canadian aluminium to 50%, the company stated.

Titanium dioxide slag production increased 13% year-on-year to 0.3-million tonnes and is expected to close the year at the lower end of its 1.0-million- to 1.2-million-tonne guidance, reflecting softer market demand.

At the Iron Ore Company of Canada, pellets and concentrate production rose 14% year-on-year to 2.5-million tonnes, with full-year guidance unchanged at 9.7-million to 11.4-million tonnes. Boric oxide production also edged up 6%, on track to meet its 0.5-million-tonne target.

Rio reaffirmed its full-year production and unit cost guidance across all businesses. The company highlighted favourable exchange rate tailwinds in Australia and strong internal cost control in copper.

Elsewhere, Rio is accelerating development at the Simandou iron-ore project in Guinea, now targeting first shipments as early as November, with 0.5-million to 1.0-million tonnes expected this year from the SimFer scope (Blocks 3 & 4).

In Western Australia, the Western Range project opened on time and on budget, while Hope Downs 2 received full government approvals in the second quarter, supporting Rio’s iron-ore replacement strategy.

The second quarter also saw progress in lithium, with integration advancing in line with plans to build a world-class lithium business - a key component of Rio’s portfolio diversification strategy.

“We will continue to drive progress towards our long-term strategy to deliver profitable growth and build a stronger, more diversified business,” added Stausholm, who is being succeeded by iron-ore chief Simon Trott next month.