The mining corporation Rio Tinto announced a base annual profit for 2025 of $10.87 billion, matching the previous year’s results. Despite the decline in iron ore prices, the company managed to maintain financial stability thanks to strong performance in the copper segment.
This is reported by Finway
Changes in Profit and Expense Structure
Last year, profit from iron ore mining accounted for about 60% of the group’s total profit, whereas in 2024 this figure was 70%. The significant reduction in share is attributed to rising production costs in the Pilbara region (Western Australia) — costs increased by approximately $0.50 per ton due to inflationary pressures and weather anomalies. In 2026, Rio Tinto forecasts further increases in iron ore costs to a level of $23.5–25 per ton.
Key Projects and Outlook for 2026
Among the major events planned by the company for 2026 are the shipment of the first batch of high-quality iron ore from the Guinean Simandou deposit, the timely launch of the new backup mine Western Range within budget, and the start of construction of three additional iron ore mines in Pilbara on previously abandoned industrial sites.
“The company’s core iron ore mining business has been affected by falling prices for this commodity, which has been offset by strong performance in the copper division.”
According to Rio Tinto’s official report, the company sold 342 million tons of iron ore last year. For 2026, sales volumes are expected to increase to 343–366 million tons, with the Simandou deposit accounting for 5 to 10 million tons.