Matt Britzman, senior equity analyst at Hargreaves Lansdown, said: “Rio Tinto echoed a familiar theme for this mining earnings season – copper stealing the spotlight.
“The copper division delivered a 114 per cent jump in cash profit (EBITDA), powered by the ramp-up at Oyu Tolgoi, and the numbers only reinforce why the market is increasingly valuing these diversified miners on their copper credentials.
“At the group level, cash profits rose nine per cent, as strong volumes and tight cost discipline offset softer iron ore prices, while a $6.5 billion dividend, maintaining a 60 per cent payout for a 10th straight year, gives income investors something to work with.
“With copper a clear focus for 2026, albeit with slightly higher costs than expected, new CEO Simon Trott is clearly betting that the red metal will define Rio’s next chapter.”
Contact details are available to account holders.
Create a free account to get in touch with this expert.