Australia-based miner Rio Tinto has announced its financial results for 2025.
The company has posted a net profit of $9.96 billion for 2025, compared to $11.55 billion in 2024. In 2025, the company’s consolidated sales revenues increased by 7.9 percent to $54.04 billion compared to 2024. The company’s underlying EBITDA in the given period totaled $25.36 billion, up by 8.8 percent year on year.
According to Rio Tinto, the company’s iron ore operations remained its largest earnings contributor despite lower realized prices during the year. In Western Australia’s Pilbara region, production was broadly flat at 327.3 million mt on a 100 percent basis, while shipments totaled 326.2 million mt, reflecting a slight year-on-year decline following cyclone disruptions in the first quarter that were later offset by record mining rates and strong second-half shipments. The average realized Pilbara iron ore price declined to $90.0 per dry metric mt on FOB basis, contributing to an 11 percent drop in the segment’s underlying EBITDA to $15.2 billion, although the business still generated $10.6 billion in operating cash flow and $6.1 billion in free cash flow. Unit cash costs in the Pilbara were $23.5 per wet metric ton, slightly higher year on year due to inflation, a higher work index and cyclone recovery costs, partially mitigated by productivity improvements. In Canada, the Iron Ore Company of Canada recorded slightly lower production of 9.3 million mt attributable to Rio Tinto, reflecting mine and equipment reliability challenges, while realized pellet prices also declined year on year.
At the same time, Rio Tinto advanced its major long-term growth project at Simandou in Guinea, marking the first ore shipment in December 2025. The SimFer joint venture, in which Rio Tinto holds a majority interest alongside Chinese partners and the Government of Guinea, is targeting 60 million mt per year of high-grade iron ore capacity, with a phased ramp-up expected following full commissioning of rail and port infrastructure. Across the portfolio, total iron ore sales reached 342 million mt in 2025, and for 2026 the company’s guidance for total iron ore sales stands at 343-366 million mt, including initial Simandou volumes of 5-10 million mt. Despite price pressures, iron ore remains central to Rio Tinto’s strategy, supported by replacement mine developments in the Pilbara aimed at sustaining medium-term system capacity of 345-360 million mt per year and maintaining cost competitiveness.