ASX:RIO

ASX 200ASX:CSLASX:RIOASX:WDS

Australian Shares Advance; Rio Tinto Group Posts Higher H1 Underlying Earnings, Revenue

Australian shares advanced further on Wednesday, as investors reacted to softer-than-expected June quarter inflation data, cutting expectations of a rate hike.The S&P/ASX 200 Index gained 1.01%, or 90.80 points, to close at 9,038.60, setting a new 100-day high.Brent crude oil futures rose to trade around $86 per barrel after the US military said Iran launched multiple ballistic missiles, which had been intercepted.Overnight on Wall Street, the Dow Jones Industrial Average rose 1% and the S&P 500 inched up 0.2%, while the Nasdaq Composite fell 0.2%.On the domestic front, Australia's consumer price index rose 3.8% in the 12 months to June from a 4% increase in the year to May. Trimmed mean annual inflation was 3.6% in the 12 months to June, unchanged from the 12 months to May.In company news, Rio Tinto Group (ASX:RIO) reported Wednesday that its underlying earnings per basic share in the first half rose to $4.214, from $2.96 a year earlier. Consolidated sales revenue for the six months ended June 30 was $31.03 billion, up from $26.87 billion in the same period last year.Woodside Energy Group (ASX:WDS) reported second-quarter operating revenue of $4.19 billion, up 28% from $3.28 billion a year earlier. The company's quarterly production volume hit 41.3 million barrels of oil equivalent (MMboe), down 18% from 50.1 MMboe in the year-ago period.Lastly, CSL (ASX:CSL) is set to conduct clinical trial work to confirm the efficacy and safety of immunoglobulin manufactured using its Horizon 2 process. It expects clinical activities to start in mid-2027.

Update: Rio Tinto Group Posts Higher H1 Underlying Earnings, Revenue; Shares Up 5%

(Updates to add stock movement in the headline and last paragraph)Rio Tinto Group (ASX:RIO) reported Wednesday that its underlying earnings per basic share in the first half rose to $4.214, from $2.96 a year earlier.Analysts polled by FactSet were expecting an earnings of $4.32.Consolidated sales revenue for the six months ended June 30 was $31.03 billion, up from $26.87 billion in the same period last year. Analysts surveyed by FactSet expected $31.17 billion.The company maintained its 2026 guidance, forecasting consolidated copper production of 800,000 to 870,000 tonnes and total iron ore sales of 343 million to 366 million tonnes.The board declared an interim dividend of $2.11 per share, up from the $1.48 in the prior corresponding period, payable on Sept. 24 to shareholders on record as of Aug. 14.The company's shares rose around 5% in recent Wednesday trade.

ASX Preview: Australian Shares to Rise as Oil Slides on US-Iran Ceasefire Hopes; Rio Tinto Group Posts Higher H1 Underlying Earnings, Revenue

Australian shares are poised to rise on Wednesday, tracking a sharp drop in oil prices as hopes for a sustained pause in US-Iran hostilities eased concerns over global crude supply disruptions despite continued geopolitical uncertainty.Overnight, the S&P 500 and the Dow Jones Industrial Average rose 0.2% and 1%, respectively, while the Nasdaq Composite fell 0.2%.In the macroeconomy, Australia's consumer price index report is due at 11:30 am Sydney time.In corporate news, Rio Tinto Group (ASX:RIO) reported Wednesday first-half underlying earnings of $4.214 per basic share on revenue of $31.03 billion, compared with underlying earnings of $2.96 on revenue of $26.87 billion a year earlier.Woodside Energy Group's (ASX:WDS) operating revenue rose to $4.19 billion in the second quarter ended June 30 from $3.28 billion a year earlier.Australia's benchmark index rose 0.6%, or 53.8 points, to close at 8,947.80 on Tuesday.

ASX 200ASX:RIOASX:WDS

Rio Tinto Group Posts Higher H1 Underlying Earnings, Revenue

Rio Tinto Group (ASX:RIO) reported Wednesday that its underlying earnings per basic share in the first half rose to $4.214, from $2.96 a year earlier.Analysts polled by FactSet were expecting an earnings of $4.32.Consolidated sales revenue for the six months ended June 30 was $31.03 billion, up from $26.87 billion in the same period last year. Analysts surveyed by FactSet expected $31.17 billion.The company maintained its 2026 guidance, forecasting consolidated copper production of 800,000 to 870,000 tonnes and total iron ore sales of 343 million to 366 million tonnes.The board declared an interim dividend of $2.11 per share, up from the $1.48 in the prior corresponding period, payable on Sept. 24 to shareholders on record as of Aug. 14.

Asia3d ago

Duratec Secures Four Contracts Totaling AU$70 Million

Duratec (ASX:DUR) said it secured four contracts across its core energy, marine, and mining and industrial sectors for a combined value of around AU$70 million, according to a Tuesday Australian bourse filing.This included a construction management contract at Orica's (ASX:ORI) Hunter Valley hydrogen hub, a contract to deliver ECI services as part of the design of the jet fuel expansion program on behalf of Perth Airport, a wharf infrastructure remediation project by Fremantle Port Authority as part of the Kwinana Bulk Jetty upgrade, and the Gove structural integrity remediation services project at Rio Tinto's (ASX:RIO) bauxite export facilities in Nhulunbuy, Northern Territory, the company said.Duratec's shares added about 1% in recent Tuesday trade, while Rio Tinto Group's shares were down 2%.

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Asia9d ago

Rio Tinto Signs Five-Year Bio Pellet Offtake Agreement With SuperChar for Gladstone Alumina Refineries

Rio Tinto (ASX:RIO) signed a five-year offtake agreement with Australian bioenergy company SuperChar for the supply of locally produced bio pellets for use at its alumina refineries in Gladstone, with deliveries targeted to commence in 2028, according to a Wednesday statement.The company said it plans to undertake a range of operational demonstrations and assessments of bio pellet blends ranging from 5% to 50% as a supplement to coal used in boilers at its Gladstone alumina refineries, with scope to increase supply over time if the project is successful.SuperChar plans to establish a bio pellet production facility in the Gladstone region using locally grown bana grass as feedstock, with initial capacity to produce 35,000 tonnes of bio pellets per year, and at full contract volumes could reduce reported Scope 1 emissions by up to 90,000 tonnes of carbon dioxide equivalent annually, the statement added.SuperChar is targeting the progressive roll-out of bana grass planting starting later in the year, with bio pellet production to begin in 2028.Rio Tinto's shares rose 2% in recent Wednesday trade.

Asia10d ago

Fortescue, Rio Tinto Shares Fall as Iron Ore Price Drops

Shares of Fortescue (ASX:FMG) fell nearly 1%, and those of Rio Tinto (ASX:RIO) were down 0.2% in recent trading on Tuesday after iron ore prices fell to the lowest level in nearly two weeks.The price of iron ore dropped by 1% to $98.60 per tonne.Meanwhile, shares of BHP Group (ASX:BHP) gained nearly 1%.

ASX:BHPASX:FMGASX:RIO

Asia15d ago

Rio Tinto Group's Second-Quarter Update Broadly in Line With Expectations, RBC Capital Markets Says

Rio Tinto Group's (ASX:RIO) second-quarter update was broadly in line with expectations, although a roughly $1.2 billion increase in working capital that weighed on cash flow was a highlight, RBC Capital Markets said in a Wednesday note.The focus now turns to first-half results due July 29, with the investment firm forecasting a 28% increase in earnings before interest, taxes, depreciation, and amortization (EBITDA), and flat net debt at $14.3 billion.The company's second-quarter Pilbara shipments of 85.3 million tonnes rose 7% from a year earlier and 18% from the linked quarter as roughly half of the 8 million tonnes of first-quarter cyclone losses were recovered, RBC said.The miner also cut its copper C1 net unit cost forecast to between $0.30 and $0.50 per pound, reflecting stronger-than-expected gold by-product credits and productivity gains. RBC expects copper to contribute 30% to group EBITDA in the first half, up from 27% in the same period a year earlier.Additionally, the equity research firm expects the company to report first-half underlying EBITDA of $14.87 billion and a net profit after tax of $6.4 billion. It does not foresee any changes to Rio Tinto's full-year outlook.RBC kept an underperform rating on Rio Tinto with a price target of AU$143.

ASX 200ASX:EVNASX:KCNASX:RIO

Australian Shares Up; Rio Tinto Group Reports Lower Q2 Copper Production

Australian shares rose on Wednesday as investors reacted to a slowdown in inflation in the US.The S&P/ASX 200 Index rose 0.37%, or 32.60 points, to close at 8,841.10.The US consumer price index fell 0.4% in June, its first decline since the COVID-19 pandemic.Brent crude oil futures were trading around $85 per barrel as hostilities continued between the US and Iran.Overnight, the S&P 500 and Nasdaq Composite rose 0.4% and 0.9%, respectively.In company news, Rio Tinto Group (ASX:RIO) reported a 7% year-over-year decline in the second-quarter consolidated copper production to 213,000 tonnes, while global iron ore production fell 1% to 87.1 million tonnes. Iron ore production at its Pilbara operations during the period remained flat year over year at 83.5 million tonnes, while Pilbara iron ore sales rose 7% to 85.3 million tonnes.Kingsgate Consolidated (ASX:KCN) has restarted processing at Thailand-based Chatree gold mine's Plant 1 at 50% of normal capacity following remediation works and modifications to the plant's processing circuit.Lastly, Evolution Mining (ASX:EVN) reported group production of 179,655 ounces of gold for the June quarter. Group production was 182,388 ounces of gold in the prior corresponding period.

GenusPlus Secures AU$55 Million Contract for Western Australia Substation Expansion from Rio Tinto

GenusPlus Group (ASX:GNP) secured a contract valued at around AU$55 million for the construction of a 220 kilovolts Millstream substation expansion at the Millstream substation project site in Western Australia under the master construction agreement with Rio Tinto Group (ASX:RIO), according to a Wednesday Australian bourse filing.Construction will begin immediately and is estimated to be completed in mid-2028. Genus was awarded a master construction agreement for electrical, instrumentation, and control works from Rio Tinto in March.Shares of GenusPlus rose over 2% in recent trading on Wednesday, while those of Rio advanced over 1%.

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Wire16d ago

Rio Tinto Group's Q2 Update Shows Production in Line With Consensus, Says Jefferies

Rio Tinto Group (ASX:RIO) reported second quarter production exceeding expectations for Pilbara iron ore production and shipments, while performance across its other major operating assets was also broadly in line with market forecasts, according to a Wednesday Jefferies note.The investment firm added that the company has reduced unit cost guidance in copper to $0.30 to $0.50 per pound from $0.65 to $0.75 per pound due to higher gold prices and operational improvement initiatives."While mostly an uneventful report from Rio, the [quarter-on-quarter] rebound in volumes at certain assets in 2Q is encouraging," the investment firm said.Jefferies kept a hold rating on Rio Tinto with a price target of AU$187.The company's shares rose past 1% in recent Wednesday trade.

Update: Rio Tinto Group Reports Lower Q2 Copper Production; Reaffirms 2026 Targets

(Updates to add stock movement in the fourth paragraph)Rio Tinto Group (ASX:RIO) reported a 7% year-over-year decline in the second-quarter consolidated copper production to 213,000 tonnes, while global iron ore production fell 1% to 87.1 million tonnes, according to a Wednesday Australian bourse filing.The company said iron ore production at its Pilbara operations during the period remained flat year over year at 83.5 million tonnes, while Pilbara iron ore sales rose 7% to 85.3 million tonnes.The company maintained its 2026 Pilbara iron ore sales guidance at 323 million to 338 million tonnes. It also reaffirmed its consolidated copper production guidance of 800,000 to 870,000 tonnes and global iron sales outlook of 343 million to 366 million tonnes.The company's shares rose past 1% in recent Wednesday trade.

ASX Preview: Australian Shares to Rise Amid Middle East Tensions; Rio Tinto Group Reports Lower Q2 Copper Production

Australian shares are poised to rise on Wednesday after oil prices climbed to a one-month high as renewed US-Iran tensions and concerns over disruptions to crude flows through the Strait of Hormuz lifted energy stocks, while investors weighed the inflation risks from higher fuel costs.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 0.4%, 0.9%, and 0.02%, respectively.In the macroeconomy, investors are eyeing the consumer inflation expectations report on Thursday.In corporate news, Rio Tinto Group (ASX:RIO) reported a 7% year-over-year decline in the second-quarter consolidated copper production to 213,000 tonnes, while global iron ore production fell 1% to 87.1 million tonnes.Evolution Mining (ASX:EVN) reported group production of 179,655 ounces of gold for the June quarter.Australia's benchmark index closed flat at 8,808.50 on Tuesday.

ASX 200ASX:EVNASX:RIO

Rio Tinto Group Reports Lower Q2 Copper Production; Reaffirms 2026 Targets

Rio Tinto Group (ASX:RIO) reported a 7% year-over-year decline in the second-quarter consolidated copper production to 213,000 tonnes, while global iron ore production fell 1% to 87.1 million tonnes, according to a Wednesday Australian bourse filing.The company said iron ore production at its Pilbara operations during the period remained flat year over year at 83.5 million tonnes, while Pilbara iron ore sales rose 7% to 85.3 million tonnes.The company maintained its 2026 Pilbara iron ore sales guidance at 323 million to 338 million tonnes. It also reaffirmed its consolidated copper production guidance of 800,000 to 870,000 tonnes and global iron sales outlook of 343 million to 366 million tonnes.

Asia17d ago

Rio Tinto Group Says JP Morgan Ceases to be Substantial Holder

Rio Tinto Group (ASX:RIO) said JPMorgan Chase and its affiliates ceased to be substantial holders of the firm, effective July 9, according to a Tuesday Australian bourse filing.

ASX 200ASX:BHPASX:RIOASX:SIG

Asia21d ago

ASX Midday Sector Update: Materials Stocks Rise, Health Care Struggles

Materials stocks advanced 2.3% to lead gainers in midday trading Friday as markets digested reports of renewed clashes in the Middle East.BHP Group (ASX:BHP) shares rose nearly 3%, and Rio Tinto (ASX:RIO) climbed past 3%.On the flip side, health care stocks fell 1.6% to lead decliners.Sigma Healthcare (ASX:SIG) was 2% lower after it said on Thursday that shareholders Jack and Sam Gance may sell up to 20% of their respective stakes in the company once the shares are released from escrow.

Equities23d ago

Energy Resources of Australia Shareholder Appeals Court Approval of Rio Tinto's Compulsory Takeover

Energy Resources of Australia (ASX:ERA) said shareholder Zentree Investments is appealing the Australian Federal Court's approval of Rio Tinto Group's (ASX:RIO) compulsory acquisition of the remaining shares in the firm, according to a Wednesday filing with the Australian bourse.The appeal extends the timeframe for the deal's completion to 14 days after the appeal is determined.Energy Resources of Australia said it will monitor the appeal proceedings and engage with the ASX to determine what implications the appeal has on its suspension from trading and delisting.Rio Tinto shares fell 2% in recent Wednesday trade.

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Japan23d ago

ASX Midday Sector Update: Energy Stocks Gain, Materials Struggle

Energy stocks led gainers with a rise of 2.6% in midday trading Wednesday as oil prices advanced more than 2%.Woodside Energy (ASX:WDS) gained nearly 3%, and Santos (ASX:STO) jumped almost 5%.Most other sectors were lower, however, with materials shedding 2.4% to lead decliners.BHP Group (ASX:BHP) fell about 3%, and Rio Tinto Group (ASX:RIO) retreated past 2%.

ASX 200ASX:BHPASX:RIOASX:STOASX:WDS

Asia25d ago

Rio Tinto Group Says JPMorgan Chase Becomes Substantial Holder

Rio Tinto Group (ASX:RIO) said that JPMorgan Chase and its affiliates acquired voting power of 5.13%, making them substantial holders as of July 1, according to a Monday Australian bourse filing.The bank holds 19.1 million ordinary shares of the mining giant.Rio Tinto's shares gained about 1% in recent Monday trade.