Rio Tinto Global Mining Group announced that its global iron ore sales increased 3% year-on-year and 2% quarter-on-quarter to 90.8 million tonnes in the third quarter of 2026, driven by increased supplies in the Pilbara and continued production expansion at Simandou in Guinea.
Global iron ore production totaled 89.7 million tons, an increase of 2% year-on-year and 3% compared to the previous quarter. In the period from January to September, production increased by 4% to 259.6 million tons, while sales increased by 3% to 255.3 million tons.
Pilbara shipments increased despite slight decrease производства
Rio Tinto's Pilbara production facilities in western China, Australia shipped 85.7 million tonnes of iron ore in the third quarter, up 2% from the same period last year and broadly unchanged from the previous quarter, boosted by strong mine production and good port inventory conditions. Production totaled 83.4 million tons, down 1% year-on-year and generally stable compared to the second quarter.
In the first nine months, Pilbara production increased by 3% to 245.7 million tons, while shipments increased by 4% to 243.3 million tons.
Meanwhile, Rio Tinto's portside iron ore sales in China totaled 4.7 million tons in the third quarter, compared with 4.9 million tons a year earlier. Approximately 71% of these volumes were sorted or mixed at Chinese ports, while portside stocks totaled 3.7 million tons at the end of September.
The annual production volume in Simandou reaches 10 million tons. тонн
SimFer operation In the third quarter, Simandou achieved an annual production level of approximately 10 million tons and continues to strive to achieve a production level of 60 million tons per year next year. in the second half of the year 2028.
Quarterly production reached 2.5 million tons, up 273% from the second quarter, while shipments to China totaled 2.2 million tons and sales totaled 1.3 million tons. In January-September, the volume of production and sales amounted to 3.7 million tons and 1.7 million tons, respectively, which corresponds to a 100% increase. The production in Simandou is ore ready to be loaded onto a train at the gates of the mine with final crushing started in China.
The construction of the SimFer mine was completed by about 84 percent, while the construction of the port and marine infrastructure was completed by 92 percent. The first ore is expected to arrive at one of the two stationary primary crushing plants and at the SimFer port in the fourth quarter of this year. 2026.
Canadian Production grows quarter over quarter кварталом
The Canadian iron ore company produced 3.8 million tons of pellets and concentrate in the third quarter. This figure increased by 30% compared to the previous quarter, but decreased by 5% year-on-year. calculus. Sales also totaled 3.8 million tons, an increase of 20% compared to the previous quarter, but a decrease of 6% year-on-year.
The quarterly growth reflects an increase in the utilization of processing plants and the restoration of normal port operations after the replacement of the ore loader. However, production in January-September decreased by 16 percent to 10.2 million tons, while sales decreased by 14% to 10.2 million tons.
The forecast for annual sales is maintained, despite the growth издержек
Rio Tinto maintained its forecast for global iron ore sales for 2026 at 343-366 million tonnes, which is 323-338 million tonnes from the Pilbara., 15-18 million tons from Canada and 5-10 million tons from Simandou.
The estimated cash cost per unit in Pilbara also remained unchanged at $23.5-$25.0 per tonne of FOB crude oil, depending on diesel fuel prices and the exchange rate. An increase in diesel fuel prices of $0.9/ton costs in the first nine months compared to the corresponding period until 2025, with the full year expected to reach $1.1/ton if gasoline prices remain around $175/barrel in the fourth quarter.
The company stated that the Middle East disruptions continue to create volatility in the energy and cargo markets, although their efficiency remains limited, with no significant disruptions to production or supply chains abroad.
Lower steel demand in China and higher transportation costs are putting pressure on рынок
According to Rio Tinto, the price of iron ore with an iron content of 61% averaged $97/in the third quarter, dry cargo shipments to China decreased by 8% compared to the previous quarter, while higher shipping costs reduced producer profits, especially for long-haul suppliers from the Atlantic.
According to the company's estimates, consumption of finished steel in China decreased by about 4% compared to the previous quarter and by 2% year-on-year. However, steel exports increased by 3% year-on-year to 122 million tons year-on-year, partially offsetting lower domestic demand and supporting steel and pig iron production..
Iron ore shipments by sea decreased by 1% compared to the previous quarter as higher operating and transportation costs put pressure on marginal suppliers, while China's domestic iron ore production decreased by 8% year-on-year due to floods, safety inspections and scheduled maintenance.
Pilbara replacement projects are ongoing for 2027
Rio Tinto continued to implement major equipment replacement projects in the Pilbara, and production is still scheduled to begin at Brockman Syncline 1, Hope Downs 2 and the West Angelas support project for 2027.
The Brockman Syncline 1 Project The $1.8 billion project has a planned capacity of 34 million tons per year, while the Hope Downs 2 project, including the Bedded Hilltop, has a capacity of 31 million tons per year and requires an investment of $800 million related to Rio Tinto. The West Angelas supporting project, with a capacity of 35 million tons per year and a $400 million investment share from Rio Tinto, is designed to extend the life of the existing концентратор.
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