Copper And Aluminum Plug A Potential Profit Hole For Rio Tinto
Copper earnings jumped 84% and aluminum earnings rose 38% as Rio Tinto’s interim dividend increased 43% to $2.11 a share.
- On Wednesday, Rio Tinto reported a 43% jump in June half-year profit to $6.85 billion, driven by strong copper and aluminum earnings that offset declining iron ore revenue.
- Diversification away from iron ore dominance has proven timely as Chinese steel production peaks and the Chinese Government demands price cuts, eroding the mineral's profitability.
- Underlying pre-tax copper earnings surged 84% to $5.7 billion while aluminum earnings rose 31% to $3.3 billion, demonstrating Rio Tinto's successful pivot toward technology-driven metals.
- Chief Executive Simon Trott called the result a 'step change in performance,' as Rio Tinto shares surged 2.75% to $166.82 on the Australian stock exchange.
- Trott identified data centers as a key growth driver, noting hyperscaler capital expenditure is forecast to reach $1 trillion next year, fueling demand for copper and aluminum.
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12 Articles
Rio Tinto has no plans to invest in aluminum casting capacity in the United States, despite the recent offer by the Trump government to halve tariffs on some metal imports for companies that make this kind of investment, according to the director-president, Simon Trott. Exclusive material for subscribers. To have full access, access the link of the subject and register.
Rio Tinto half-year results surge driven by copper growth and robust cash flow
Mining giant Rio Tinto has announced a stronger-than-expected financial performance for the first half of 2026, highlighted by a 47% rise in underlying profit to US$6.7 billion and a 5% jump in its share price to US$167.20. The company declared an interim dividend of US$2.11 per share, surpassing market consensus and reflecting confidence in its …
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