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LONDON - Rio Tinto (NYSE:RIO) delivered resilient financial results for the first half of 2025, with underlying EBITDA of $11.5 billion and operating cash flow of $6.9 billion, despite a 13% lower iron ore price compared to the same period last year.
The mining giant reported a 6% increase in copper equivalent production year-on-year, demonstrating progress in its strategy to diversify its portfolio. Underlying earnings came in at $4.8 billion after $4.8 billion in taxes and government royalties.
"We are delivering very resilient financial results with an improving operational performance helped by our increasingly diversified portfolio," said Rio Tinto Chief Executive Jakob Stausholm, who will step down from his role on August 25, 2025, to be succeeded by Simon Trott.
The company declared an interim dividend of $2.4 billion, representing a 50% payout ratio, maintaining its commitment to shareholder returns while investing in growth opportunities.
Rio Tinto’s Aluminium and Copper businesses showed strong performance, with underlying EBITDA increasing by 50% and 69% respectively, helping offset challenges in the Iron Ore segment, which saw a 24% decline in underlying EBITDA due to lower prices and weather disruptions.
The company completed the acquisition of Arcadium Lithium for $6.7 billion in March, positioning itself as a major player in the lithium sector. Integration of the business is progressing as planned, with the company reporting that its lithium pipeline has been enriched through new agreements in Chile with Codelco and ENAMI.
Net debt increased to $14.6 billion at the end of June, up from $5.5 billion at the end of 2024, primarily due to the Arcadium acquisition.
The company maintained its 2025 production guidance across most commodities and reported that its Simandou iron ore project in Guinea is advancing well, with first shipment accelerated to around November 2025.
Based on a press release statement, Rio Tinto continues to focus on its four strategic objectives: becoming the best operator, maintaining impeccable ESG credentials, excelling in development, and strengthening its social license to operate.
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