Rio boosts Pilbara shipments, loads first ore at Simandou
Rio Tinto (ASX: RIO) has recorded strong results for Q3 CY25, backed by rebounding iron ore prices and advancing operations at the Simandou iron ore project in Guinea.
The company shipped 84.3mt of iron ore from its WA operations during Q3 CY25, narrowly missing the estimated guidance of 85.5mt.
Rio’s $6.2b Simandou project reached a major milestone with the loading of first ore on the newly commissioned mine-to-rail-to-port system. First shipments are expected in November, with a ramp-up to the site’s full capacity of 60mtpa expected over the next 30 months.
Rio Tinto chief executive Simon Trott says the company continues to strengthen performance from its assets.
“We are also focused on delivering a strong finish to the year from the Pilbara site,” he said.
“Our growth projects are also progressing at pace — at Simandou, we started loading first ore at the mine for movement down the rail and to the port in October.”
The fatality of one Rio Tinto’s workers at the SimFer site has brought back safety considerations for the company.
“Safety remains our number one priority. We are deeply saddened by the tragic death of Mohamed Camara at the SimFer mine site and are committed to learning across our business to prevent future incidents. This has been a time for huge reflections on safety across the group.,” Mr Trott said.
In March, Reuters reported that 13 workers had been killed during the construction of the port and railway between June 2023 and November 2024.
Last week, Winning Consortium Simandou (WCS), the company developing part of the Simandou project, reported a fatal accident that killed three workers. The incident is currently under investigation.
Global economies
Rio Tinto says business and consumer sentiment in the global market had weakened during the quarter due to persistent trade tensions with China entering Q3 under pressure from persistent deflation, decelerating manufacturing, moderating exports and a sustained soft property sector. Despite these challenges, the Chinese Government remains committed to its 5% annual growth target, relying on targeted stimulus in infrastructure and technology rather than broad measures.
During Q3, China diversified its iron ore sources, boosting purchases from smaller iron ore suppliers, with Rio’s combined shipments remaining flat on the year, Rio reported.
Copper production increased by 9% year-on-year for a total of 204,000t, underpinned by ramp-ups at Rio’s Oyu Tolgoi copper mine in Mongolia, putting the company on track to achieve the higher end of the year guidance.
“Setting back-to-back quarterly production records in our bauxite business and at Oyu Tolgo — where the underground ramp-up remains on track to boost copper output by more than 50% this year,” Mr Trott said.
“We are on track to meet production guidance for 2025, with an upwards revision to bauxite this quarter, and are well positioned to deliver compelling mid-term production growth.”
The strong performance follows the introduction of a new business model that saw the company simplify operations to focus on aluminium and lithium, iron ore and copper — with borates and iron and titanium under strategic review.