Australian miner Rio Tinto has revealed its production guidance for 2026, along with its financial forecast and general strategy for the given year.
For the year 2026, the company expects its total iron ore sales to amount to 343-366 million mt, with 323-338 million mt produced at its Pilbara operations and 5-10 million mt produced at the Simandou iron ore project.
Simon Trott, CEO of Rio Tinto, emphasized that the company plans to consolidate its operations into three world-class businesses, iron ore, copper, and aluminium & lithium, and that it aims to “release $5-10 billion from its existing asset base by exploring commercial, partnership or ownership options across land, infrastructure, mining and processing assets such as iron and titanium, and borate operations.
The company also reaffirmed its target to reduce carbon emissions by 50 percent by 2030, revising its expected capital requirement down to $1-2 billion from the previous estimate of $5-6 billion. This shift reflects growing third-party investment in renewable energy infrastructure and the company’s disciplined approach to capital deployment.
Under long-run consensus prices, Rio Tinto estimates that its EBITDA could increase by 40-50 percent by 2030. According to the company, this growth will be driven by 20 percent growth in its copper operations, lower costs and more efficient capital allocation.