Rio Tinto Group

SUPERIOR, Arizona--(BUSINESS WIRE)--Rio Tinto has approved a $144 million investment by Resolution Copper (Rio Tinto share: $79 million) to advance the next phase of development at the project in Arizona, one of the world's largest untapped copper deposits and a potential major new source of domestically produced copper for the United States. The investment builds on the completion of the historic land exchange in March 2026, which unlocked the project's next phase. It is additional to approxim.

Rio Tinto's Q3 iron ore production increased 2%, while stronger Pilbara shipments supported unchanged full-year guidance. Oyu Tolgoi copper output rose 27%, offsetting weaker performance at Escondida and operational disruptions at Kennecott. Higher diesel costs and a stronger Australian dollar could add approximately $694 million in annual Pilbara costs on a 100% operations basis.

Rio Tinto Group is rated a BUY, driven by robust copper growth, resilient segmental earnings, and a 16% upside to a $98.75 target. Copper's share of RIO revenue has surged to 35.6% in H1 2026, with strong pricing and demand tailwinds from electrification and supply constraints. The aluminum segment remains resilient despite tariffs and supply shocks, while iron ore faces headwinds from Chinese demand stagnation and CMRG negotiations.

Rio Tinto is evaluating the construction ​of a new lithium plant in Argentina ‌that would require about $1 billion in additional investment, Chief Executive Simon Trott said.