Rio Tinto: good results due growing and diversifying portfolio

LONDON – Rio Tinto is delivering very resilient financial results with an improving operational performance helped by its increasingly diversified portfolio. Underlying EBITDA of $11.5 billion and operating cash flow of $6.9 billion, despite a 13% lower iron ore price, demonstrate the growing contribution from its Aluminium and Copper businesses and Pilbara operations’ strong recovery from the four cyclones in the first quarter. Rio Tinto is reporting underlying earnings of $4.8 billion (after taxes and government royalties of $4.8 billion).

Rio Tinto Chief Executive Jakob Stausholm said: “Our strong cash flow enables us to maintain our practice of a 50% interim payout with a $2.4 billion ordinary dividend, as we continue our disciplined investment in profitable growth while retaining a strong balance sheet.

“We are well positioned to generate value from our best-in-class project execution, together with growing demand for our products, now and over the coming decades. We remain on track to deliver strong mid-term production growth, with solid foundations in place and a diverse pipeline of options for the future.”

Executive Summary

• Rio Tinto has announced Simon Trott as Chief Executive with effect from 25 August 2025.
• Very resilient financials with stable net cash generated from operating activities of $6.9 billion and underlying EBITDA of $11.5 billion, despite a 13% lower iron ore price and the impact of the cyclones in Q1, underpinned by its improving operational performance, diversifying portfolio and a rising contribution from its Aluminium and Copper businesses.
• Profit after tax attributable to owners of Rio Tinto of $4.5 billion (referred to as “net earnings” throughout this release).
• Interim ordinary dividend of $2.4 billion, a 50% payout, in line with its practice.
• Successful delivery of projects: Simandou first shipment accelerated to around November 2025, Western Range iron ore opened on time and on budget and construction commenced at Hope Downs 2 and Brockman Syncline 1 following receipt of all necessary approvals. Arcadium Lithium acquisition closed ahead of schedule in March and Rio Tinto enriched its lithium pipeline through two new agreements in Chile with Codelco and ENAMI.