Rio Tinto reported flat underlying earnings of $10.87 billion for 2025, matching 2024 results despite weaker iron ore prices. The world's largest iron ore producer saw earnings boosted by a 5% increase in sales volumes and an 8% uplift in copper-equivalent production.

Iron ore earnings fell 11% as benchmark prices dropped about 6%, but the copper segment more than doubled, driven by sharply higher output at the Oyu Tolgoi underground mine. Aluminium and lithium earnings also rose on stronger bauxite and alumina production, while net profit declined 14% to $9.97 billion due to higher debt and one-off acquisition costs.

Chief Executive Simon Trott said Rio remains on track to deliver about 3% compound annual growth in copper-equivalent output to 2030, supported by projects including Simandou iron ore in Guinea and lithium expansions in Argentina and Canada. The miner declared a final dividend of $2.54 per share, down slightly from $2.55 a year ago.