**Rio Tinto RIO.AX posted flat Q3 iron ore shipments on Tuesday, while expecting improved copper production

** Shares currently trading 0.8% higher at A$128.4

INVESTORS FOCUS ON SIMANDOU, OYU TOLGOI RAMP-UP

** Analysts at Macquarie (neutral; A$115 PT) say first ore was loaded at Simandou iron ore project in October with ramp-up on track

** Brokerage adds RIO’s portfolio simplification, capital discipline and ramp-ups at Simandou and Oyu Tolgoi offer tactical upside** Simandou ramp-up clarity gives perspective to some high outliers being discussed for CY26 — Morgan Stanley (equal-weight, A$129.50 PT)** UBS (neutral, A$130 PT) says in a note the speed of Simandou ramp-up in 2026/27 will have a material impact on the iron ore market** Ongoing ramp-up is going well but the potential change in the mine plan due to transfer of Entree licences is a concern, adds UBS** Finally, Morningstar expects volumes from the two Simandou joint ventures to ramp up to about 120 million metric tons by 2029

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com))