Commodities
Home›Commodities›Mining›Rio Tinto and Glencore profit surge as metals prices s…
Rio Tinto and Glencore profit surge as metals prices stay elevated
Rio Tinto reported a 43.0% profit jump in the first half, while Glencore said its trading division earned $2.9 billion from January through July.
Rio Tinto and Glencore posted near-record updates, citing this year’s high commodity prices and ongoing uncertainty tied to the Middle East conflict, OilPrice reported.
Rio Tinto said it delivered a 43.0% jump in profit for the first six months of the year, attributing the strength to persistently elevated metals prices and an efficiency program it launched in 2025.
Glencore, which also has a large commodity trading arm, said its trading division made $2.9 billion between January and July, putting it on track to top its annual record $6.4 billion from 2022, with the wider company generating close to $3.5 billion and nearly beating its full-year forecast in just six months.
Both companies pointed to demand tailwinds from artificial intelligence and electrification, which have helped lift base metal prices such as copper and precious metals such as silver, OilPrice added.
Latest closeSilver $57.33 ▼2.0%|Copper $6.338 ▼0.0%