Copper strength keeps Rio Tinto annual profit flat

Rio Tinto reported flat full-year earnings, as strong copper performance helped offset weaker conditions in its core iron ore business.

The mining giant posted underlying earnings of $10.87 billion for the year ended December 31, unchanged from the previous year and broadly in line with analyst expectations, News.Az reports, citing Reuters.

Higher copper prices and increased production volumes provided support to the group’s results. However, the company’s flagship iron ore division continued to face pressure from growing global supply, which weighed on prices and limited overall profit growth.

Rio Tinto remains the world’s largest iron ore producer, and the commodity continues to be a key driver of its financial performance. The latest results highlight the company’s increasing reliance on diversification into other minerals such as copper to balance volatility in iron ore markets.

The earnings update comes shortly after Rio Tinto walked away from potential merger talks with Glencore, signaling the company’s focus on organic performance and portfolio strength rather than large-scale consolidation.

Despite mixed commodity trends, the miner’s steady results underscore the resilience of its diversified asset base amid shifting global demand and supply dynamics in key metals markets.

News.Az 

By Aysel Mammadzada