Rio Tinto has reported stable financial results for the first half of 2025, despite facing a decline in iron ore prices and operational disruptions caused by cyclones earlier in the year. The company’s Chief Executive, Jakob Stausholm, said: “We are delivering very resilient financial results with an improving operational performance helped by our increasingly diversified portfolio. Underlying EBITDA of $11.5 billion and operating cash flow of $6.9 billion, despite a 13% lower iron ore price, demonstrate the growing contribution from our Aluminium and Copper businesses and our Pilbara operations’ strong recovery from the four cyclones in the first quarter. We are reporting underlying earnings of $4.8 billion (after taxes and government royalties of $4.8 billion).
“Our strong cash flow enables us to maintain our practice of a 50% interim payout with a $2.4 billion ordinary dividend, as we continue our disciplined investment in profitable growth while retaining a strong balance sheet.
“We are well positioned to generate value from our best-in-class project execution, together with growing demand for our products, now and over the coming decades. We remain on track to deliver strong mid-term production growth, with solid foundations in place and a diverse pipeline of options for the future.”
The company announced Simon Trott will take over as Chief Executive starting August 25, 2025.
Financial highlights show net cash generated from operating activities was $6.9 billion, slightly down compared to the same period last year. Profit after tax attributable to Rio Tinto owners reached $4.5 billion, while underlying earnings were reported at $4.8 billion—a decrease compared to last year’s figures.
A major contributor to these results was an increase in copper production at Oyu Tolgoi and record bauxite output at Amrun and Gove sites. Aluminium and copper divisions provided greater stability against lower iron ore prices.
The company continues its focus on safety measures across all sites with an All Injury Frequency Rate (AIFR) of 0.39 during this period.
On environmental goals, Rio Tinto reports progress towards reducing Scope 1 and 2 emissions by half before 2030 relative to its 2018 baseline; emissions for H1 stood at 15.6 million tonnes CO2 equivalent—representing a reduction compared to previous years.
Project development remains active with several milestones reached: Simandou’s first shipment is now expected around November 2025; Western Range iron ore mine opened as scheduled; construction began at Hope Downs 2 and Brockman Syncline 1 following required approvals; acquisition of Arcadium Lithium was completed ahead of schedule in March for $6.7 billion; new lithium agreements were signed in Chile with Codelco and ENAMI.
In line with its commitment to responsible practices, Rio Tinto published its Modern Slavery Statement in May referencing an independent human rights assessment conducted in Guinea.
Efforts toward building relationships with Indigenous communities continue through co-management agreements such as that recently signed with Puutu Kunti Kurrama and Pinikura (PKKP), providing frameworks for engagement on heritage matters throughout mining lifecycles.
The interim ordinary dividend stands at $2.4 billion—maintaining a payout ratio consistent with previous periods—as Rio Tinto aims for disciplined growth investments while keeping a strong balance sheet position.
Further details can be found via Rio Tinto’s official release: https://www.businesswire.com/news/home/20250729862537/en/
