Rio Tinto is one of the world's largest mining companies, extracting and selling metals and minerals used in construction, manufacturing, and the energy transition. Its core products are iron ore, copper, and aluminium, with a growing lithium business following the 2025 acquisition of Arcadium Lithium. Iron ore, mined primarily in the Pilbara region of Western Australia, is Rio Tinto's largest business and sold predominantly to Chinese steelmakers. Copper is produced at Oyu Tolgoi in Mongolia, Kennecott in Utah, and through an equity stake in Escondida in Chile. Aluminium is produced through a vertically integrated bauxite-to-aluminium chain spanning mining, refining, and smelting across Australia, Canada, and New Zealand. Lithium operations — brine and spodumene mining with downstream processing — are focused in Argentina and Canada, targeting battery-grade lithium carbonate and hydroxide. Rio Tinto is a price-taker across all its markets, so earnings are primarily driven by commodity prices and production volumes. Growth projects include the ramp-up of the Oyu Tolgoi underground mine, the Simandou high-grade iron ore project in Guinea, Pilbara replacement mines to sustain system capacity, and multiple lithium expansion projects targeting ~200 kt LCE capacity by 2028. Rio Tinto returns 40-60% of underlying earnings as ordinary dividends, paying at the top of that range for ten consecutive years.