Anglo-Australian mining group Rio Tinto 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 Tinto’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 high-quality, low-emission raw materials.
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.
Rio in October agreed to buy lithium producer Arcadium for $6.7 billion, a strategic move set to make it the world’s third-largest lithium miner, significantly boosting its presence in the electric vehicle battery supply chain.
The world’s largest iron ore producer said it expects copper production in fiscal 2025 of 780,000-850,000 tons, against 660,000-720,000 tons a year earlier.

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