{"id":2858132,"version":0,"headline":"Rio Tinto advances Australian iron ore mine projects","dateModified":"2026-07-29T07:09:06Z","datePublished":"2026-07-29T04:41:13Z","articleBody":"

UK-Australian mining firm Rio Tinto has advanced construction at its Brockman Syncline 1, Hope Downs 2 and West Angelas iron ore mines, expecting to start production at all three mines in 2027, it said today.

The mines are due to replace the firm's depleting, older mines. The firm's Pilbara capital investment increased by 34pc on the year in January-June reflecting continued investment in Pilbara projects, it said in its half-year results released on 29 July.

The company recorded higher profitability at its Pilbara iron ore operations in January-June compared with a year earlier despite headwinds from a stronger Australian dollar and higher diesel prices.

Underlying earnings before interest, taxes, depreciation and amortisation (ebitda) at Rio Tinto's iron ore operations in the Pilbara region of Western Australia (WA) were $7bn in January-June, up by 5pc on the year because of higher realised iron ore prices and increased production.

Rio Tinto received an average of $105/dry metric tonne (dmt) cfr China for its 61pc ore and $122/dmt cfr China for its 65pc product in January-June, up from $101/dmt and $113/dmt, respectively, in January-June 2025.

Unit costs increased by $0.70/t on the year to $25/t, driven by a $2.10/t headwind from a stronger Australian dollar and a $0.80/t impact from higher diesel prices. This was at the higher end of Rio Tinto's 2026 unit production cost guidance of $23.50-25/wet metric ton (wmt) on a fob basis.

Cost headwinds were offset by productivity initiatives that increased plant operating time and allowed Rio Tinto to deliver higher volumes, the firm said. It achieved its highest half-year iron ore production result in eight years in January-June.

Full-year iron ore sales guidance for the firm's Pilbara operations remains at 323mn-338mn t for 2026.

The Argus ICX iron ore index was last assessed at $97.10/dmt cfr Qingdao on a 61pc Fe basis on 28 July, down from $97.65/dmt on 21 July. Argus last assessed 65pc Fe fines at $113.75/dmt cfr Qingdao on 28 July, down from $114.40/dmt on 21 July.

By Emma Partis

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UK-Australian mining firm Rio Tinto has advanced construction at its Brockman Syncline 1, Hope Downs 2 and West Angelas iron ore mines, expecting to start production at all three mines in 2027, it said today.

The mines are due to replace the firm's depleting, older mines. The firm's Pilbara capital investment increased by 34pc on the year in January-June reflecting continued investment in Pilbara projects, it said in its half-year results released on 29 July.

The company recorded higher profitability at its Pilbara iron ore operations in January-June compared with a year earlier despite headwinds from a stronger Australian dollar and higher diesel prices.

Underlying earnings before interest, taxes, depreciation and amortisation (ebitda) at Rio Tinto's iron ore operations in the Pilbara region of Western Australia (WA) were $7bn in January-June, up by 5pc on the year because of higher realised iron ore prices and increased production.

Rio Tinto received an average of $105/dry metric tonne (dmt) cfr China for its 61pc ore and $122/dmt cfr China for its 65pc product in January-June, up from $101/dmt and $113/dmt, respectively, in January-June 2025.

Unit costs increased by $0.70/t on the year to $25/t, driven by a $2.10/t headwind from a stronger Australian dollar and a $0.80/t impact from higher diesel prices. This was at the higher end of Rio Tinto's 2026 unit production cost guidance of $23.50-25/wet metric ton (wmt) on a fob basis.

Cost headwinds were offset by productivity initiatives that increased plant operating time and allowed Rio Tinto to deliver higher volumes, the firm said. It achieved its highest half-year iron ore production result in eight years in January-June.

Full-year iron ore sales guidance for the firm's Pilbara operations remains at 323mn-338mn t for 2026.

The Argus ICX iron ore index was last assessed at $97.10/dmt cfr Qingdao on a 61pc Fe basis on 28 July, down from $97.65/dmt on 21 July. Argus last assessed 65pc Fe fines at $113.75/dmt cfr Qingdao on 28 July, down from $114.40/dmt on 21 July.

By Emma Partis

","lead":"UK-Australian mining firm Rio Tinto has advanced construction at its Brockman Syncline 1, Hope Downs 2 and West Angelas iron ore mines, expecting to start production at all three mines in 2027, it said today.","cmsId":"24926863","source":"Censhare"}