The Rio Tinto Ltd (ASX: RIO) share price is in focus after the ASX mining share reported its June 2025 quarter update.
Rio Tinto is one of the largest miners in the world, producing commodities like iron ore, copper, lithium, aluminium and bauxite.
Rio Tinto’s June 2025 quarter
The ASX mining share reported pleasing growth for some of its commodities.
It reported its numbers compared to the second quarter of 2024 (year on year) and the first quarter of 2025 (quarter on quarter).
Pilbara iron ore production was 83.7mt for the quarter, 5% higher year on year and up 20% quarter on quarter. This was the strongest second quarter of production since 2018.
Copper production came to 220kt, an increase of 15% year on year and a rise of 9% quarter on quarter. Pleasingly, copper unit costs are expected to be at the low end of its annual guidance, thanks to copper production expectations now being at the high end for guidance for the year. This division is becoming increasingly important for Rio Tinto shares, in my opinion.
Aluminium production was 0.84mt, an increase of 2% year on year and 2% growth quarter on quarter.
Bauxite production was 15.6mt, an increase of 6% year on year and growth of 5% quarter on quarter.
Other developments
The diversified miner also announced that its lithium integration is progressing to plan, in line with its strategy to establish a world-class lithium business. The company has made a few acquisitions to achieve that goal.
It also revealed that the Simandou (an African iron project) first shipment is now expected to around November 2025, an acceleration, with 0.5mt to 1mt of shipments expected in 2025.
Rio Tinto also said it has continued making progress with its iron ore replacement strategy. The Western Range has opened on time and on budget, while Hope Downs 2 received all Government approvals in the second quarter.
The ASX mining share also reported that Simon Trott will be the new CEO, starting from 25 August 2025.
Final thoughts on the Rio Tinto share price
Rio Tinto shares aren’t as cheap as they were a few weeks ago. Mining shares can be quite volatile, so it can be useful to take advantage of those occasional declines.
Today may still be a good time to buy because Rio Tinto is diversifying away from a reliance on Australian iron ore. The current valuation is lower than it has been for most of the last two years, so it looks a decent time to consider the business.
But, for investors wanting more consistent dividend payouts, other ASX dividend shares may appeal more.
