Rio Tinto vs Zijin Mining: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Rio Tinto PLC (RIO.LSE)

Q3 202617 Jun – 10 Sep 2026

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Rio Tinto Q3: Profit Surges, But China Demand and Output Risks Loom

Profit and Dividend Jump First-half profit rose 43% to $6.85bn, helped by an 84% jump in copper earnings from Mongolia. The dividend increased to $2.11 per share, rewarding shareholders.
This is the main positive financial result that drove investor sentiment during the period.
Lithium and Iron Ore Growth Lithium is now the fastest-growing division, targeting 200,000 tonnes by 2028. Q2 iron ore sales rose 5% with better pricing, supporting revenue.
These operational highlights show progress in key growth areas and near-term sales strength.
China Delays Pilbara Blend Purchases China, nearly 60% of revenue, told mills to delay Pilbara Blend purchases amid contract talks, creating near-term sales uncertainty and weighing on sentiment.
This is a major new risk that could hurt sales and investor confidence.
Copper Output Falls and Cost Pressures Copper output fell 7%, while weaker iron ore and lithium prices plus higher expansion debt could pressure returns, offsetting some positive momentum.
These operational and financial headwinds present a real counterweight to the strong profit growth.

August 202627 Jul – 10 Sep 2026

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Rio Tinto's profit jumps on copper; China iron ore pressure

First-half profit surges 43% Rio Tinto's underlying profit rose 43% to $6.85bn, the best in four years, driven by an 84% jump in copper earnings from Mongolia. The interim dividend increased to $2.11 per share, rewarding shareholders.
This is the core financial result that directly boosts investor confidence and the stock's value.
Growth projects and asset sales advance Rio advanced a $2–3bn infrastructure asset sale, awarded $110m in Resolution Copper contracts, secured Tomago smelter power through 2038, gained Indigenous consent for Winu copper-gold, agreed to buy Aurukun bauxite, and invested $15m in Mogotes Metals.
These actions show Rio is actively strengthening its portfolio and securing long-term operations, supporting future growth.
China delays Pilbara Blend purchases China's state iron ore buyer told mills to delay Pilbara Blend purchases during contract talks, threatening near-term sales. China provides nearly 60% of Rio's revenue, giving Beijing pricing leverage and creating uncertainty.
This is a major headwind that could hurt Rio's sales and pricing power in its largest market.

Latest19 Aug – 10 Sep 2026

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China ore squeeze hits Rio, but copper and bauxite growth advance

China delays Pilbara Blend iron ore purchases China's state iron ore buyer told steel mills to hold off buying Rio's Pilbara Blend during contract talks. China takes nearly 60% of Rio's revenue, so this directly threatens near-term iron ore sales and gives Beijing leverage over prices.
This is the single biggest new force on Rio's earnings and the stock.
Winu copper-gold project clears Indigenous hurdle Rio won consent from the Nyangumarta people for its Winu copper-gold mine in Western Australia, targeting production by 2030. It is Rio's most advanced new copper project, supporting long-term growth as copper demand rises.
A concrete step forward for Rio's copper expansion, a key growth driver.
Rio buys Aurukun bauxite project Rio agreed to acquire the Aurukun bauxite project in Queensland from Glencore and Mitsubishi, extending its nearby bauxite operations. The deal still needs government approvals, but it strengthens long-term reserves for its aluminium business.
Adds a new growth asset to Rio's bauxite/aluminium pipeline.
Small Mogotes investment expands copper exploration Rio closed a US$15 million investment in Mogotes Metals for about a 5% stake and a technical alliance on the Filo Sur copper project in Argentina and Chile. It is a small but strategic bet on future copper supply.
Shows Rio actively building early-stage copper options, though the financial impact is small.

27 Jul – 13 Aug 2026

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Rio Tinto's profit jumps 43% on copper; asset sales and smelter deal advance

First-half profit surges 43% on copper strength Rio Tinto's first-half underlying profit rose 43% to $6.85 billion, the highest in four years, as copper earnings jumped 84% on Mongolian output. The interim dividend rose to $2.11 per share. Stronger profit and cash flow support the shares.
This is the period's biggest earnings event and directly lifts the investment case for RIO.LSE.
$2–3 billion infrastructure asset sale draws private equity interest Rio Tinto is selling infrastructure assets in Canada and Western Australia for $2–3 billion, with Blackstone, KKR, Apollo and Stonepeak interested. Proceeds would fund growth and streamline the business, a plus for the shares.
The sale is a concrete step in Rio Tinto's portfolio management plan and could unlock capital for investors.
Resolution Copper advances with $110 million contracts Resolution Copper awarded $110 million in contracts for early work on its Arizona underground mine, part of a $500 million program. Rio Tinto owns 55%. Progress on this large future copper project supports long-term growth expectations.
It shows real progress on a major copper growth project, which matters for Rio Tinto's long-term earnings.
Tomago aluminium smelter secures power through 2038 Rio Tinto-backed Tomago smelter secured a power deal through 2038, with renewables from 2033. This keeps Australia's largest aluminium smelter running and cuts emissions, reducing uncertainty over a key asset.
It removes a major risk to Rio Tinto's aluminium operations and supports stable future production.

July 202617 Jun – 16 Jul 2026

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Rio Tinto's copper and lithium growth push meets iron ore recovery

Lithium to become fastest-growing division Rio Tinto expects lithium to grow faster than any other division, tripling output to 200,000 tonnes by 2028 using new extraction technology. Rising demand from battery storage, not just electric cars, supports this. A new growth engine lifts the company's long-term earnings outlook.
This is a new strategic growth driver that directly boosts future revenue and investor confidence.
Q2 iron ore sales rise 5% with better pricing Rio Tinto sold 5% more iron ore in the second quarter, with average prices improving to $85.2 per tonne. This shows strong demand for its core product, supporting cash flow. Copper output fell 7%, but lower copper costs and a 20% jump in lithium production partly offset that.
This is the latest operational update showing core business strength and pricing power.
Oyu Tolgoi loan rate adjusted with Mongolia Rio Tinto and Mongolia agreed to lower the interest rate on the Oyu Tolgoi shareholder loan, reflecting reduced project risk. This improves financial terms and eases a long-running dispute. The mine remains on track to produce 500,000 tonnes of copper yearly from 2028.
This resolves a key geopolitical risk and improves project economics, directly benefiting the stock.
Valuation test amid battery metals push A valuation analysis suggests Rio Tinto is 13% undervalued, but weaker iron ore and lithium prices plus higher debt from expansion could pressure returns. The stock fell 9.7% in a month but is up 12.8% this year. The market is weighing growth against near-term headwinds.
This captures the central tension investors face: growth potential versus pricing and leverage risks.

17 Jun – 16 Jul 2026

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Rio Tinto's copper and lithium growth push meets iron ore recovery

Lithium to become fastest-growing division Rio Tinto expects lithium to grow faster than any other division, tripling output to 200,000 tonnes by 2028 using new extraction technology. Rising demand from battery storage, not just electric cars, supports this. A new growth engine lifts the company's long-term earnings outlook.
This is a new strategic growth driver that directly boosts future revenue and investor confidence.
Q2 iron ore sales rise 5% with better pricing Rio Tinto sold 5% more iron ore in the second quarter, with average prices improving to $85.2 per tonne. This shows strong demand for its core product, supporting cash flow. Copper output fell 7%, but lower copper costs and a 20% jump in lithium production partly offset that.
This is the latest operational update showing core business strength and pricing power.
Oyu Tolgoi loan rate adjusted with Mongolia Rio Tinto and Mongolia agreed to lower the interest rate on the Oyu Tolgoi shareholder loan, reflecting reduced project risk. This improves financial terms and eases a long-running dispute. The mine remains on track to produce 500,000 tonnes of copper yearly from 2028.
This resolves a key geopolitical risk and improves project economics, directly benefiting the stock.
Valuation test amid battery metals push A valuation analysis suggests Rio Tinto is 13% undervalued, but weaker iron ore and lithium prices plus higher debt from expansion could pressure returns. The stock fell 9.7% in a month but is up 12.8% this year. The market is weighing growth against near-term headwinds.
This captures the central tension investors face: growth potential versus pricing and leverage risks.

Zijin Mining Group Co Ltd Class A (601899.CG)

Q3 20263 Jul – 21 Aug 2026

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Zijin shines on record gold, copper prices and profit surge

Gold and silver prices rally on central bank buying and tight supply Gold and silver prices rose sharply as central banks bought more and mine supply lagged, shifting demand to policy and reserves. This lifted Zijin's revenue and profit.
Higher precious metal prices directly boost Zijin's earnings and stock price.
Copper prices climb on DRC export bans and falling LME inventories Copper prices rose due to export bans in the DRC and lower LME inventories. Zijin said the ban had limited operational impact, but higher copper prices still supported earnings.
Copper is a key revenue driver for Zijin, and price increases directly improve profitability.
First-half net profit jumps 68% to 39.2 billion yuan Zijin's first-half net profit surged 68% to about 39.2 billion yuan on higher output and prices. The company also raised its interim dividend to 4.20 yuan per 10 shares, over 11.1 billion yuan.
Strong profit growth and higher dividends attract investors and support the stock price.
Ethiopian approval of $4 billion Allied Gold acquisition Ethiopian regulators approved Zijin's $4 billion acquisition of Allied Gold, expanding gold resources and reducing uncertainty. Shares surged over 20% in July as investors favored dividend-paying blue chips.
The acquisition approval removes a major overhang and boosts growth prospects, driving the stock higher.

August 202622 Jul – 21 Aug 2026

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Zijin's profit jumps 68% on gold and copper strength

Gold demand shifts to fundamentals Gold demand is growing faster than mine supply, and central banks are buying. This supports higher gold prices, which boosts Zijin's revenue and profit from its gold mines.
Explains the long-term demand driver behind Zijin's gold business.
Copper supply worries lift prices The DRC export ban and falling LME inventories have pushed copper prices higher. Zijin says the ban has limited impact on its operations, but higher copper prices still benefit its copper sales.
Shows a key supply-side factor affecting copper prices and Zijin's earnings.
Record first-half profit and dividend Zijin reported first-half net profit up 68% to 39.2 billion yuan, with strong cash flow and production growth. It proposed a dividend of 4.2 yuan per 10 shares, rewarding shareholders.
The latest earnings confirm strong financial performance and shareholder returns.
Blue-chip safe-haven demand Investors are favoring blue-chip stocks with stable dividends and earnings certainty. Zijin's shares surged over 20% in July as part of this shift, attracting capital.
Highlights the market rotation into blue chips that has boosted Zijin's stock.

Latest22 Jul – 21 Aug 2026

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Zijin's profit jumps 68% on gold and copper strength

Gold demand shifts to fundamentals Gold demand is growing faster than mine supply, and central banks are buying. This supports higher gold prices, which boosts Zijin's revenue and profit from its gold mines.
Explains the long-term demand driver behind Zijin's gold business.
Copper supply worries lift prices The DRC export ban and falling LME inventories have pushed copper prices higher. Zijin says the ban has limited impact on its operations, but higher copper prices still benefit its copper sales.
Shows a key supply-side factor affecting copper prices and Zijin's earnings.
Record first-half profit and dividend Zijin reported first-half net profit up 68% to 39.2 billion yuan, with strong cash flow and production growth. It proposed a dividend of 4.2 yuan per 10 shares, rewarding shareholders.
The latest earnings confirm strong financial performance and shareholder returns.
Blue-chip safe-haven demand Investors are favoring blue-chip stocks with stable dividends and earnings certainty. Zijin's shares surged over 20% in July as part of this shift, attracting capital.
Highlights the market rotation into blue chips that has boosted Zijin's stock.

July 20263 Jul – 14 Jul 2026

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Zijin's profit surge, dividend hike, and Ethiopia deal approval lift shares

Gold sector strength Gold and silver prices are up sharply year-on-year, and the precious metals sector is shifting to a policy- and reserves-driven phase. This boosts demand for gold miners like Zijin, pushing its stock up as investors expect higher revenue.
Explains the broader sector tailwind that lifts Zijin's price.
68% profit growth forecast Zijin expects first-half 2026 net profit of about 39.1 billion yuan, up 68% from a year earlier, driven by higher output and selling prices. This strong earnings growth signals the company is making much more money, which supports a higher stock price.
Directly shows the company's financial performance, a key price driver.
Bigger interim dividend Zijin plans to pay an interim dividend of 4.20 yuan per 10 shares, totaling over 11.1 billion yuan, exceeding its earlier proposal. A larger payout returns more cash to shareholders, making the stock more attractive and likely pushing its price up.
Dividend increases directly enhance shareholder returns and investor appeal.
Ethiopia approves Allied Gold deal Ethiopian regulators cleared Zijin's $4 billion acquisition of Allied Gold, with closing expected before July 29. This removes a major hurdle, expands Zijin's gold resources, and reduces uncertainty, which should lift the stock price.
Regulatory approval is a key step that de-risks a major growth acquisition.

3 Jul – 14 Jul 2026

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Zijin's profit surge, dividend hike, and Ethiopia deal approval lift shares

Gold sector strength Gold and silver prices are up sharply year-on-year, and the precious metals sector is shifting to a policy- and reserves-driven phase. This boosts demand for gold miners like Zijin, pushing its stock up as investors expect higher revenue.
Explains the broader sector tailwind that lifts Zijin's price.
68% profit growth forecast Zijin expects first-half 2026 net profit of about 39.1 billion yuan, up 68% from a year earlier, driven by higher output and selling prices. This strong earnings growth signals the company is making much more money, which supports a higher stock price.
Directly shows the company's financial performance, a key price driver.
Bigger interim dividend Zijin plans to pay an interim dividend of 4.20 yuan per 10 shares, totaling over 11.1 billion yuan, exceeding its earlier proposal. A larger payout returns more cash to shareholders, making the stock more attractive and likely pushing its price up.
Dividend increases directly enhance shareholder returns and investor appeal.
Ethiopia approves Allied Gold deal Ethiopian regulators cleared Zijin's $4 billion acquisition of Allied Gold, with closing expected before July 29. This removes a major hurdle, expands Zijin's gold resources, and reduces uncertainty, which should lift the stock price.
Regulatory approval is a key step that de-risks a major growth acquisition.