Rio Tinto is also a top producer of iron ore, a key ingredient in steel, which is the most-used metal alloy in the world. The company’s iron ore operations in Australia are composed of an integrated network of world-class mining assets, processing hubs, rail lines, and port terminals that help keep costs low.
It complements its leading operations with a large-scale copper business. It controls the massive Oyu Tolgoi mining project in Mongolia. The company also owns the Winu copper-gold project in Australia, which it's seeking to develop.
Finally, Rio Tinto approved the $2.5 billion Rincon project in Argentina in late 2024, its first commercial-scale lithium operation. It also acquired Arcadium Lithium for $6.7 billion in early 2025 to create a world-class lithium business to complement its leading iron ore, aluminum, and copper operations. Additionally, Rio Tinto and its partner Hancock Prospecting approved the Hope Downs 2 iron ore project in Australia to expand its iron ore business.