Financial Wire

Rio Tinto Group Reports Higher Q1 Copper Equivalent Production, Iron Ore Production

-- Rio Tinto Group (ASX:RIO) on Tuesday reported a 9% year-over-year increase in copper equivalent production in the first quarter, while global iron ore production jumped 12% to 82.8 million tonnes.

The company said first-quarter iron ore production at its Pilbara operations rose 13% year over year to 78.8 million tonnes, and Pilbara iron ore sales ticked 2% higher to 72.4 million tonnes.

Tropical cyclones impacted Pilbara shipments by about 8 million tonnes, with around half expected to be recovered, Rio Tinto said.

The company maintained its 2026 Pilbara iron ore sales guidance at 323 million to 338 million tonnes. It also reaffirmed consolidated copper production guidance of 800,000 to 870,000 tonnes and the total iron sales outlook of 343 million to 366 million tonnes.

Related Articles

Asia

Market Chatter: Japan to Back Biofuel Pilot in Mozambique, Ghana with 4 Billion Yen Funding

Japan's Ministry of Economy, Trade and Industry will provide 4 billion yen or $25.2 million in subsidies to support a large-scale marine biofuel pilot initiative in Mozambique and Ghana, according to a Nikkei report on Tuesday.The funding is aimed at covering startup costs until the project becomes profitable, with the dual objective of diversifying energy sources while aiding the environment and local farmers, the publication said.The initiative, led by Tokyo-based Nippon Biofuel, will cultivate jatropha. This hardy plant grows in poor soil and produces oil-rich seeds without straining food supplies, unlike corn or other biofuel crops, the news daily said.Fuel production facilities will be built in both countries, where local workers will be employed to handle all stages from cultivation to manufacturing, the report said.The resulting biofuel is expected to power domestic Japanese cargo vessels, Africa-bound freight ships, and commercial boats based in Singapore, offering a solution to multiple challenges, it added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$^N225
Asia

Peel Mining Secures New South Wales Exploration License; Shares Up 7%

Peel Mining (ASX:PEX) secured exploration license EL9887, covering the newly identified Thunderstruck prospect in New South Wales, according to a Tuesday filing with the Australian bourse.The prospect was identified during a review of open-file geological data within the Cobar Basin, the filing said.The company is now aiming to fast-track drilling to test the target, subject to regulatory approval, per the filing.Shares rose 7% in morning trade on Tuesday.

$ASX:PEX
Asia

Invictus Energy Secures Binding Commitments for AU$10 Million Placement; Shares Down 18%

Invictus Energy (ASX:IVZ) said it has secured binding commitments for a AU$10 million placement of about 166.7 million shares at an issue price of AU$0.06 each, according to a Tuesday filing with the Australian bourse.Settlement of the placement is expected on April 28, and the company plans to use the proceeds to finance further works at its 80%-owned Cabora Bassa oil and gas exploration project in northern Zimbabwe, per the filing.Shares of Invictus Energy were down 18% in recent Tuesday trade.

$ASX:IVZ