The Rio Tinto Ltd (ASX: RIO) share price is in focus after the company reported that its iron ore sales soared in the three months to June 2026.
Rio Tinto is one of the world’s largest miners. It produces copper, iron ore, aluminium, lithium, bauxite and plenty more.
June 2026 quarter production
The business reported how it performed in the second quarter of 2026.
Copper
Copper production was 213kt for the quarter, down 7% compared to both the second quarter of 2025 and the first quarter of 2026.
The sold copper price rose to US$5.91 in the first half of 2026, up from US$4.36 in the first half of 2025.
Rio Tinto said that the Oyu Tolgoi (a large Mongolian copper project) ramp-up remains on track. It’s now progressing its next generation of copper growth options at Resolution and Winu.
Iron ore
Global iron ore production came to 87.1mt for the quarter, down 1% year on quarter, but up 5% year on year. Global iron ore sales were 88.8mt, up 5% year on year and up 17% year on year.
Rio Tinto noted that its share of Simandou (African project) fines production was 0.3mt, up 16% quarter on quarter. Delivery of permanent crushing facilities will support the ramp-up, which is expected in the second half. It had 7.6mt of uncrushed ore at the mine at the end of June.
Simfer mine construction and port infrastructure are both now more than three quarters complete, with full rail commissioning achieved in the first quarter.
The iron ore price achieved was US$85.2 per wet metric tonne (wmt) in the first half of 2026, up from US$84.2 in the first half of 2025.
Rio Tinto said that China’s crude steel and pig iron ore product increased in the second quarter on a quarter on quarter basis, but was down year on year.
Lithium, aluminium and bauxite
Bauxite production was 15.2mt, down 3% year on year, but up 14% quarter on quarter.
Aluminium production was 0.84mt, flat year on year, but up 1% quarter on quarter.
Lithium carbonate equivalent (LCE) production came to 14.6kt for the quarter, up 20% year on year and up 15% quarter on quarter.
Final thoughts on the Rio Tinto share price
Rio Tinto does not control what happens with commodity prices, but it is in control of its production and costs, which it appears to currently be doing a solid job at.
The Rio Tinto share price is up more than 40% in the last year, though it’s down 16% from early June. I wouldn’t call it a great buy today – particularly if resource prices drop.
But, I do think Rio Tinto offers compelling exposure to copper, lithium and African iron ore. It’s my preferred diversified resources pick on the ASX. The miner is cheaper than it was, but I’d prefer to invest at better value. I’d be happy about this update if I were a shareholder, though.
For now, there are other ASX dividend shares I’d rather buy.
