Rio sees 2025 copper output at 780,000850,000 tons
Lifts capex forecast to 11 billion for next year
Projects 3 CAGR from 2024 onwards across operations

LONDON, Dec 4 Reuters AngloAustralian mining group Rio Tinto on Wednesday lifted its capital expenditure guidance for 2025 and forecast higher copper production, mostly on an anticipated 50 output surge from its Mongolian assets.

Across operations, it is projecting 3 compound annual growth from 2024 onward. While Rio Tinto39;s profits primarily stem from iron ore, it is increasing its focus on copper, demand for which is expected to benefit from the energy transition.

The miner aims to reach annual copper production of 1 million metric tons by 2030, evolving into a major player in the clean energy supply chain focusing on highquality, lowemission raw materials.

As we ramp up the Oyu Tolgoi underground copper mine in Mongolia, deliver the Simandou highgrade iron ore project in Guinea, and build out our lithium business through the proposed acquisition of Arcadium, we are underwriting a decade of profitable growth, CEO Jakob Stausholm said.

The company expects overall capital expenditure to rise to 11.0 billion for fiscal 2025 1 billion above a previous forecast from 9.5 billion in 2024.

The Simandou iron ore project in Guinea, set to be the world39;s largest new iron ore mine, will add around 5 to global seaborne supply when it comes on line at the end of 2025. Rio plans to spend about 6.2 billion on the…