Rio Tinto Sees Record Copper Profit as Commodity Prices Surge

Rio Tinto's first-half performance was driven by copper, aluminium, and lithium, which collectively contributed more than half of the miner's underlying earnings before interest, taxes, depreciation, and amortization (EBITDA).

The company achieved a record $US5.7 billion in copper EBITDA, an 84 percent increase, while aluminium and lithium EBITDA climbed 38 percent to $US3.3 billion.

Rio's underlying EBITDA rose 28 percent to $US14.8 billion, with the result coinciding with a six percent increase in Pilbara iron ore production, reaching 162.3 million tonnes (Mt) and the region's strongest first-half performance since 2018.