Rio Tinto focuses on long-term copper growth via Oyu Tolgoi

Rio Tinto Ltd has seen significant share price momentum, rising approximately 21.6% since the start of 2025. While analysts from CommSec forecast relatively flat earnings per share for fiscal years 2026 and 2027, the company's long-term outlook is supported by major investments in copper.

The Oyu Tolgoi operation in Mongolia is a key driver for this growth. Copper production at the site increased by 31% in the first half of 2026, and the company expects the mine to produce an average of 500,000 tonnes of copper annually between 2028 and 2036. This scale could make Oyu Tolgoi the world’s fourth-largest copper mine by 2030.

Financially, Rio Tinto currently trades at a price-to-earnings ratio of approximately 15 times forecast earnings. Although the current dividend yield of around 3.62% is lower than its five-year average of 6.80%, the company continues to provide consistent income while developing major long-term assets.