Rio Tinto’s Capital Markets Day included a range of tangible objectives. On production, it expects to grow annual production by an average of 3% out to 2030.
On costs it’s looking to lower unit costs by 4% over the same period. Rio’s also looking to deliver $650mn of efficiencies over the next three months, mainly by cutting corporate costs.
There was no specific net debt target, but the focus is on retaining an A grade credit rating, helped by the planned generation of $5-10bn from project partnerships.
For 2025, production guidance has been increased for copper but lowered for iron ore. In 2026, production is expected to stay broadly flat.
The shares were up 3.9% in early trading.
Our view
HL view to follow.
Rio Tinto key facts
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This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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