Rio Tinto plc is a UK-based metals and mining company operating across several segments: Iron Ore, Aluminium, Copper, Corporate, and Minerals. The company has an integrated portfolio of iron ore assets, including a network of 17 mines, four independent port terminals, and a rail system spanning approximately 2,000 kilometers. The Aluminium business comprises four bauxite mines located in Australia, Brazil, and Guinea; four alumina refineries in Australia, Brazil, and Canada; 14 aluminum smelters in Canada, Australia, New Zealand, and Oman; and seven hydropower plants in Canada. The Copper segment includes three copper operations in the United States, Mongolia, and Chile, as well as three c... Rio Tinto plc is a UK-based metals and mining company operating across several segments: Iron Ore, Aluminium, Copper, Corporate, and Minerals. The company has an integrated portfolio of iron ore assets, including a network of 17 mines, four independent port terminals, and a rail system spanning approximately 2,000 kilometers. The Aluminium business comprises four bauxite mines located in Australia, Brazil, and Guinea; four alumina refineries in Australia, Brazil, and Canada; 14 aluminum smelters in Canada, Australia, New Zealand, and Oman; and seven hydropower plants in Canada. The Copper segment includes three copper operations in the United States, Mongolia, and Chile, as well as three copper projects in the United States, Mongolia, and Australia. Additionally, the company produces gold, silver, molybdenum, and other metals as by-products of its copper operations. The Minerals segment spans four key sectors: borates, titanium dioxide, iron ore, and diamonds. The Commercial segment manages global sales and marketing, procurement, and marine and logistics operations. Rio Tinto operates in 35 countries worldwide, leveraging its extensive asset base and diverse portfolio to meet the global demand for critical materials. Read more

In 2023, global production of usable iron ore was estimated at 2.5 billion tons (bt). The largest iron ore-producing countries include Australia (approximately 900 million tons per annum), Brazil (380 million tons), China (360 million tons), India (240 million tons), and Russia (100 million tons). Crude steel production reached 1.89 bt in 2023, with China’s crude steel accounting for 54% of total output. In 2024, growth in steel-consuming sectors is expected to decline more sharply than previously estimated (-2.7% compared to -1.6%). This is driven by a second consecutive recession in the construction sector and the first downturn in the automotive sector since 2020.