Rio Tinto Q2: Pilbara Iron Ore Sales Beat Estimates, Maintains Guidance
Rio Tinto reported Q2 Pilbara iron ore sales of 85.3 Mt, above the 83.13 Mt estimate, and maintained its full-year guidance. The miner also lowered its 2026 copper cost guidance.
RIO
Rio Tinto's Q2 operational results exceeded expectations for Pilbara iron ore sales, which came in at 85.3 million tonnes versus an estimated 83.13 million tonnes. Production reached 83.5 million tonnes, while copper output stood at 213 kt.
The miner maintained its full-year Pilbara ore shipment guidance of 323-338 Mt and total iron ore sales forecast of 343-366 Mt. Additionally, Rio Tinto lowered its 2026 copper C1 net unit cost guidance to 30-50 cents per pound.
The company noted that operational impacts in the Middle East remain limited.
Source: First Squawk