LONDON, July 1, 2026, 16:05 BST
- Rio Tinto plc (LON:RIO) traded at 7,081p/7,082p, slipping 0.56% as the FTSE 100 dropped 0.50%.
- Rio Tinto and Mongolia reached a deal to change the shareholder loan rate for Oyu Tolgoi. Rio said the project still targets average copper output of around 500,000 tonnes per year from 2028 to 2036.
- Rio’s 66% stake in the planned Oyu Tolgoi output carries an annual value of about $4.4 billion at the June 30 LME three-month copper price, before taking out costs, taxes, royalties and financing.
Rio Tinto plc (LON:RIO) fell in London trading on Wednesday. The miner announced a new deal with Mongolia that lessens one political risk at its Oyu Tolgoi copper project, but the mine is expected to take on more of the group’s growth as its iron ore business sees tougher conditions.
Hargreaves Lansdown’s delayed prices had Rio at 7,081p to sell and 7,082p to buy, down 40p, or 0.56%. The FTSE 100 on the same feed was off 0.50%, so Rio lagged the index by a small margin. The quote page listed 1.05 million shares traded, a market cap of £115.17 billion, price/earnings at 14.10, and a 4.24% dividend yield.
Investors got what they wanted—Rio reduced its risk on a big copper asset, but shares barely moved. The stock still traded with the broader FTSE miners, tracking the day’s index and commodity moves.
| London quote snapshot | Price / quote | Day move | Note |
|---|---|---|---|
| Rio Tinto plc (LON:RIO) | 7,081p/7,082p | -0.56% | FTSE 100 off 0.50% on same delayed feed |
| BHP Group Ltd (LON:BHP) | 3,107p/3,110p | +0.29% | Shares edged higher on HL data |
| Anglo American plc (LON:AAL) | 3,677p last trade | -0.54% | Davy shows price 20 minutes delayed as of 16:03 London time |
| Glencore plc (LON:GLEN) | 515.20p/515.30p | +0.25% | HL delayed feed |
Rio said June 30 it reached a deal with the Mongolian government to change the shareholder loan interest rate at Oyu Tolgoi. The company also said both will address Entrée mine lease questions and look to speed up shareholder payouts.
Katie Jackson, chief executive of Rio Tinto Copper, said the new rate brings Oyu Tolgoi closer to a “lower risk, steady state operation.” Rio owns 66% of the mine, with Mongolia holding 34% through Erdenes Oyu Tolgoi, the company said. Rio Tinto
The Financial Times said Rio agreed to halve Oyu Tolgoi management fees and to drop the interest rate on Mongolia’s loan by 2.5 points. Rio’s statement didn’t give the exact new rate.
| Oyu Tolgoi value check | Figure | Why it matters |
|---|---|---|
| Expected copper production, 2028 to 2036 | ~500,000 tonnes per year | Rio’s ramp-up goal, on a 100% basis |
| Rio’s stake | 66% | Works out to about 330,000 tonnes a year of copper attributable to Rio before factoring in project terms |
| LME copper three-month price, June 30 | $13,366 per tonne | From latest Westmetall LME pricing table |
| Gross metal value of Rio’s 66% share | ~$4.41 billion per year | Reporter math; this isn’t revenue, cash flow or profit |
Copper is still trading at strong levels, keeping Oyu Tolgoi important for Rio’s equity story. Westmetall data put LME cash copper at $13,341 a tonne and three-month copper at $13,366 on June 30. LME copper stocks stood at 329,225 tonnes.
Rio stock hasn’t recovered to the high it reached in this year’s mining rally. According to Google Finance, Rio’s shares in London touched a 52-week high of 9,117p and a 52-week low of 4,187p. At the 7,081p delayed quote, the price is around 22% under that high and about 69% above the 52-week low.
Copper is still drawing buyers in the mining space. Reuters Breakingviews said Wednesday that South32 ASX:S32, which just sold aluminium operations to Alcoa Corp (NYSE:AA), would see copper make up around 55% of EBITDA and could end up in play, with big copper assets in short supply.
For Rio, markets are waiting on production numbers, not any new deal talks. According to the company’s financial calendar, Rio will report its second-quarter operations review for 2026 on July 15. Half-year results come out July 29 at about 08:30 AEST, or 23:30 BST the night before.
