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Anglo-Australian mining group Rio Tinto on Wednesday lifted its capital expenditure guidance for 2025 and forecast higher copper production, mostly on an anticipated 50% output surge from its Mongolian assets.
“As we ramp up the Oyu Tolgoi underground copper mine , deliver the Simandou high-grade iron ore project in Guinea, and build out our lithium business through the proposed acquisition of Arcadium, we are underwriting a decade of profitable growth,” CEO Jakob Stausholm said. Its Rincon starter project in Argentina achieved first lithium production last week, it said, but the huge Jadar project in Serbia,The world’s largest iron ore producer said it expects copper production in fiscal 2025 of 780,000-850,000 tons, against 660,000-720,000 tons a year earlier.
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