Rio Tinto (RIO,RIO.L) reported 9% year-over-year copper equivalent production growth across its portfolio for the first quarter. Global iron ore sales were up 2% from last year. The company reported second highest first quarter Pilbara production since 2018, up 13% from prior year. Rio Tinto said its 2026 production/sales guidance is unchanged. Also, 2026 unit cost guidance is unchanged.
With regard to Middle East conflict, the company noted that, to date, on the supply-side, the direct impacts on operations have been limited, while its commodity prices have responded favourably.
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Business News
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.