Rio Tinto Keeps $5 Billion Capital Release Plan on Track

Rio Tinto plans to identify about $5 billion in capital release initiatives by the end of 2026 and has delivered more than $2 billion so far this year, while its Pilbara iron ore sales increased in the third quarter.

Sales from the company’s Pilbara operations totaled 85.7 million metric tons for the quarter ended Sept. 30, up 2% from a year earlier. The capital releases are part of a broader program targeting $5 billion to $10 billion.

Rio Tinto kept its 2026 Pilbara sales forecast at 323 million to 338 million metric tons. Sales for the first nine months of the year totaled 243.3 million metric tons.

Global iron ore sales reached 90.8 million metric tons in the third quarter, a 3% increase from the same period a year earlier. The company’s Oct. 14 production update did not give a date for announcing the remaining capital release initiatives.