Latest news with #OyuTolgoi
Business Insider
16-07-2025
- Business
- Business Insider
Rio Tinto reports Q2 Pilbara iron ore production 83.7 Mt, up 5% y/y
Reports Q2 Bauxite production 15.6 Mt, up 5% y/y. Reports Q2 Alumina production 1.8Mt, up 8% y/y. Reports Q2 mined Copper 229kt, up 15% y/y. Rio Tinto (RIO) CEO Jakob Stausholm said: 'We delivered excellent operational performance from our mine operations with record production from our bauxite business and from Oyu Tolgoi as it ramps up to become the world's fourth largest copper mine before the end of the decade. We continue to make strong progress in our production and growth projects, achieving our highest Pilbara Q2 production since 2018 and accelerating the first shipment from the Simandou high-grade iron ore project in Guinea. We will continue to drive progress towards our long-term strategy to deliver profitable growth and build a stronger, more diversified business.' Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with , delivered to your inbox every week.
West Australian
16-07-2025
- Business
- West Australian
Rio Tinto recovers from cyclone impacts but cops $460m blow on US aluminium tariffs
Rio Tinto's second-quarter iron ore shipments largely recovered from cyclone impacts in the previous three months, as the major miner prepares for a new chief executive to take charge. Exports of key steel-making material iron ore reached 79.9 million tonnes for the three months ended June 30, down one per cent from the same period last year, and slightly below analyst expectations. Shipments jumped 13 per cent from the first quarter, when four cyclones impacted ports servicing WA's mining hub the Pilbara. Iron ore achieved its highest second-quarter production level since 2018, turning out 83.7mt — up 20 per cent on the first quarter and 5 per cent from the same period a year ago. The company, which on Tuesday named iron ore boss Simon Trott as its new CEO, still relies on the steelmaking material for about 80 per cent of its underlying earnings. It seeks to boost production in the Pilbara while bringing its massive Simfer mine at the Simandou project in Guinea online this year. While Rio maintained full-year iron ore export guidance at between 323mt and 338mt, it said shipments would likely be at the lower end due to the impact of the cyclones. First exports from Simandou are expected in November. The miner is also pursuing growth in commodities key for the energy transition, namely its new lithium business as well as expansions in copper and aluminium production. Over 2025's first half, Rio incurred about $US300 million ($460m) of gross costs due to the US tariffs on aluminium exports from Canada. it said. Rio's large copper business continued a strong performance, with output up 15 per cent on the same time a year ago. This was mainly thanks to a ramp up at the company's massive Oyu Tolgoi underground copper mine in Mongolia. The company had 'record production from our bauxite business and from Oyu Tolgoi as it ramps up to become the world's fourth-largest copper mine before the end of the decade', Mr Stausholm said in the statement. Bauxite and aluminium production gained 6 per cent and 2 per cent, respectively. Rio's solid production performance comes amid an increasingly volatile business environment, with geopolitical tensions and trade barriers creating ongoing near-term economic risks, it said in the statement. In biggest customer China, 'headwinds such as trade tensions and a soft property market continue to pose challenges,' it said. For the US, 'the impact of tariffs is still feeding through to inflation and sentiment', Rio said. 'The housing market continues to be weak and building activities have been hampered by elevated mortgage rates and reduced labour supply.' Bloomberg
Business Wire
15-07-2025
- Business
- Business Wire
Rio Tinto releases second quarter 2025 production results
MELBOURNE, Australia--(BUSINESS WIRE)--Rio Tinto Chief Executive Jakob Stausholm said: 'We delivered excellent operational performance from our mine operations with record production from our bauxite business and from Oyu Tolgoi as it ramps up to become the world's fourth largest copper mine before the end of the decade. 'We continue to make strong progress in our production and growth projects, achieving our highest Pilbara Q2 production since 2018 and accelerating the first shipment from the Simandou high-grade iron ore project in Guinea. 'We will continue to drive progress towards our long-term strategy to deliver profitable growth and build a stronger, more diversified business.' Executive Summary We're pleased to have announced Simon Trott as Chief Executive with effect from 25 August 2025. Copper equivalent (CuEq) production rose 13% in Q2 YoY, and 6% YoY for the half year, driven by strong performance in our copper business and the contribution of the Arcadium acquisition. Copper production is now expected at the higher end, and copper unit costs around the lower end, of full year guidance ranges. Pilbara iron ore achieved its highest Q2 production since 2018, recovering well from Q1 extreme weather impacts. Bauxite achieved a second consecutive quarterly production record and is now expected at the higher end of the full year production guidance range. Lithium integration progressing to plan, in line with our strategy to establish a world-class lithium business. Simandou first shipment accelerated to around November 2025, with 0.5 to 1.0 Mt of shipments expected in 2025 (SimFer scope from Blocks 3 & 4). Continued progress with our Iron Ore replacement strategy: Western Range opened on time and on budget, while Hope Downs 2 received all Government approvals in Q2. The full second quarter production results are available here This announcement is authorised for release to the market by Andy Hodges, Rio Tinto's Group Company Secretary. LEI: 213800YOEO5OQ72G2R82 Classification: 3.1 Additional regulated information required to be disclosed under the laws of a Member State
Yahoo
04-07-2025
- Business
- Yahoo
Sandvik gains Oyu Tolgoi's $28m order for underground mining equipment
Sandvik has secured an order valued at Skr270m ($28.3m) from Oyu Tolgoi LLC for underground mining equipment. The equipment, including loaders and trucks, will be used at the Oyu Tolgoi copper-gold mine in the South Gobi Desert, Mongolia. The order was recorded in the second quarter of 2025, with deliveries scheduled to commence in October and continue until November 2026. Sandvik Mining business area president Mats Eriksson stated: 'Sandvik loaders and trucks have consistently delivered industry-leading performance for Oyu Tolgoi, and we are very pleased to be able to continue to support safety, productivity and cost efficiency in the mining operations.' Oyu Tolgoi LLC, a joint venture between Rio Tinto and the government of Mongolia, operates the Oyu Tolgoi mine, which is considered one of the world's largest known copper-gold deposits. The partnership structure of Oyu Tolgoi comprises the government of Mongolia with a 34% stake and Rio Tinto with 66%. Rio Tinto also manages the operations. The Oyu Tolgoi mine has been producing copper concentrate since 2013, when its copper concentrator, Mongolia's largest industrial complex, began operations. The initiation of underground production in March 2023 has elevated Oyu Tolgoi to a leading position among global copper producers, with an expected peak production of 500,000 tonnes per annum (tpa). In addition to the mining equipment order, Sandvik Mining has also recently obtained IEC 62443-4-1 certification at Maturity Level 2. This certification underscores Sandvik's commitment to embedding cybersecurity measures into its product design and development processes. The IEC 62443-4-1 standard is an internationally recognised benchmark that ensures secure product development practices within the industrial automation and control systems sector. "Sandvik gains Oyu Tolgoi's $28m order for underground mining equipment" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Mint
22-06-2025
- Business
- Mint
Rare-earth crunch: India's quest for critical minerals must race the clock
Aditya Sinha , Aatman Shah Our EV makers face a rare-earth magnet scarcity while the country faces a steep challenge in securing local supplies of various rarely found critical minerals. But a Quad-led effort could forge a realistic action plan to create a supply chain independent of China. India should advocate a partnership within the Quad, anchored by an Indo-Pacific Rare Earth Processing Hub in India. Gift this article Globally, critical mineral development is marked by long gestation cycles, taking 15–25 years from discovery to production, given the inherently uncertain nature of exploration and hurdles at multiple stages of mine development. Australia's Olympic Dam project took 13 years and Mongolia's Oyu Tolgoi took 20 years. Globally, critical mineral development is marked by long gestation cycles, taking 15–25 years from discovery to production, given the inherently uncertain nature of exploration and hurdles at multiple stages of mine development. Australia's Olympic Dam project took 13 years and Mongolia's Oyu Tolgoi took 20 years. Even in the US, the Thacker Pass lithium project was delayed by about a decade as it faced environmental litigation. These delays reflect universal geological, regulatory, social and financial constraints. India's critical mineral strategy faces added hurdles from legacy inefficiencies, under-resourced exploration and fragmented institutional coordination. Geologically rich areas like Bastar Craton and Karbi Anglong are yet to move beyond early-stage exploration. The Geological Survey of India has historically focused on bulk commodities, resulting in inadequate pre-auction data on rare minerals under the post-2015 regime. Our lack of fully validated reserves tends to deter private sector participation. Infrastructure gaps, tribal rights issues and delayed clearances further slow progress. Also, India faces steep technical barriers in downstream processing. Rare earth separation requires up to 180 solvent extraction steps, demanding precision in chemical parameters and contamination control. Australia, while mining over half the world's lithium, processes only a fraction domestically and relies heavily on China. Indonesia's efforts to process nickel through 'high-pressure acid leach' (HPAL) plants have been marred by shutdowns, cost overruns and corrosion-related technical failures. Also Read: Rare earths: China is choking its own prospects of leadership India suffers from five critical deficits. First, process R&D infrastructure is minimal, with pilot-scale capability available only with a handful of government labs like CSIR-NML and BARC. Second, India lacks commercial-scale plants for key processing methods like 'solvent extraction-electrowinning' (SX-EW) or HPAL that are essential for extracting materials like copper, lithium or nickel from complex ores. Third, Indian facilities don't offer the ultra-high purity needed for battery-grade lithium or rare-earth magnets. Fourth, our hazardous waste handling is inadequate; the processing of some rare earths generates radioactive tailings and acidic sludge that require advanced containment systems. Finally, India lacks digitized continuous process control systems that are essential for safe, consistent and scalable refining. Without addressing these gaps, India won't be able to capture value beyond raw extraction (whenever mining starts). Also Read: China risks overplaying its hand by curbing rare earth exports Fortunately, there have been a slew of reforms lately. The Mines and Minerals (Development and Regulation) Amendment Act of 2023, for instance, empowers the Centre to exclusively auction mineral concessions for 24 critical minerals. It also removes six minerals from the restrictive list of atomic minerals, thereby opening them up to the private sector. The Act also introduces a new category of exploration licences through reverse bidding, allowing private and foreign firms to undertake reconnaissance and prospecting for deep-seated, high-value critical minerals. Aimed at attracting foreign investment and explorers with advanced technology and risk capital, the regime was launched in March 2025, with auctions for 13 blocks across eight states. The government also aims to introduce viability gap funding, ease regulatory norms and fast-track rare-earth mine auctions. The aim is to capture 10% of global rare-earth processing capacity supported by incentives under the National Critical Mineral Mission (NCMM) 2025 and a proposed ₹ 1,500 crore recycling incentive scheme. While state-run firms are being mobilized, the real thrust must come from private participation. Magnet imports doubled in 2024-25 and tightening Chinese export controls have added to the urgency. But this is too little too late. While China has mastered the entire value chain, India has not even scratched the surface. Our processing technology is primitive and concentrated in a single state-owned company, Indian Rare Earths Ltd. Recent reforms cannot compensate for decades of lost time, inadequate research and strategic inertia. By the time we catch up, the geopolitical window may shut. Without speed and global alignment, current efforts risk being symbolic. India should advocate a partnership within the Quad, anchored by an Indo-Pacific Rare Earth Processing Hub in India. Each member can offer a unique strength: Australia has raw materials, Japan has technology and India could do the processing, while the US invests and generates demand. Under the NCMM 2025, a research stream led by the Anusandhan National Research Foundation should drive innovation across the value chain. This would include scaling advanced extraction methods like bio-leaching and solvent extraction, developing capabilities for rare earth separation and ultra-high-purity fabrication, and building digital infrastructure. Further, while restricting exports to promote downstream industries is a valid strategy, it should be pursued only after India has developed adequate processing capacity. At the same time, the planning and construction of processing facilities must begin in parallel with mining and exploration, rather than waiting for their completion. Even these efforts would barely scratch the surface. What India needs are radical, time-bound disruptions. The authors are public policy professionals. Topics You May Be Interested In
