Rio Tinto to Get Less Than Half of Earnings From Iron Ore Next Year -- Market Talk

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0128 GMT - Rio Tinto is likely to get 48% of its Ebitda from iron ore in 2026, down from 81% in 2023, Citi analyst Ephrem Ravi estimates. The miner is diversifying its earnings even as its giant Simandou iron-ore project in Guinea ramps up, helped by growth in its copper division. The shift also reflects forecast moves in prices, including a soft outlook for iron ore, Ravi says. He reckons Rio's copper business is "on track for solid growth," tipping increases of 7% in 2026 and 5% in 2027. Ravi says investors should get a clearer picture of the miner's growth plans when it holds an investor briefing on Dec. 4. Citi has a neutral rating on Rio Tinto. The stock is up 1.5% in Sydney at A$133.78. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

 

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November 16, 2025 20:28 ET (01:28 GMT)

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