Rio Tinto chief executive Simon Trott has laid out what he called the miner’s “winning formula” for growth, as the company leans on its existing portfolio and a “strong pipeline of opportunities” to drive future production.
Speaking at the company’s 2026 annual general meetings in London and Perth, Trott said the company was working to make its operations “stronger, sharper and simpler”, with a focus on clearer priorities, faster decision making and reduced complexity across the organisation.
That approach, he said, is intended to lift returns across its three core businesses spanning iron ore, copper, aluminium and lithium.
Trott also pointed to a more disciplined approach to capital allocation, with investment decisions increasingly being weighed against competing uses of funding across the portfolio.
“Every dollar must deliver value. Every project must compete for capital,” he said.
The company is also continuing to advance a range of large-scale projects, including Simandou in Guinea, Oyu Tolgoi in Mongolia and lithium developments in Argentina.
“We are well positioned for the future – with industry-leading 3 per cent compound annual production growth to the end of the decade,” Trott said.
“…we have a strong pipeline of opportunities to extend growth well into the 2030s, particularly in copper. Including Resolution in Arizona, our Nuton leaching ventures and projects like Nuevo Cobre in Chile.”
Trott said the business also plans to release between $5 billion and $10 billion in cash from its asset base over time as part of its capital management approach.
Another central theme of the meeting was safety, following three fatalities across Rio Tinto operations since the previous AGM.
“Our colleagues’ deaths show we are not where we need to be on safety, which is the foundation of our business,” Trott said.
Echoing those sentiments, Chair Dominic Barton reinforced the company’s safety focus.
“As a board and as a business, we have a clear focus and an accountability: fatalities must be eliminated and everyone must go home safe, every day,” he said.
Barton also pointed to strong long-term demand for critical minerals including copper, lithium, aluminium and iron ore, driven by electrification, infrastructure and digital growth.
He further highlighted the role of partnerships in delivering major projects such as Simandou and ongoing engagement with host communities as central to maintaining social licence.
“I am very optimistic about Rio Tinto’s future,” Barton said.
“We have great people, world-class assets in the right commodities and a clear strategy. And importantly we have tremendous opportunity.”
