Rio Tinto Group (RIO) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

So a warm welcome to everyone, both here in the room and for those joining us remotely. We are pleased to be here today with our CEO, Jakob Salsholm, and CFO, Peter Cunningham, to present to you our 2025 half-year results. This will be followed by a Q&A session. Important. There are no planned fire evacuations today. If you hear the alarm, please follow instructions from the fire wardens here at the London Stock Exchange. With that, I would like to invite Jakob to the stage. Thank you, Rachel. Good morning, good evening to everyone joining us in person or online. I like to start by acknowledging and paying my respect to all traditional owners and First Nations people who host our operations around the world. It's great to be in London today. I am so proud of the first half financial results we're presenting today. In my time with Rio Tinto, we have had periods with higher prices, but this set of results are the strongest, demonstrating real momentum in improving operational performance, real value from a more diversified portfolio, and excellence in unlocking growth projects. This is allowing us to deliver very resilient financial performance despite lower iron ore prices and a tough start to the year with four cyclones in the Pilbara. Importantly, we are delivering on our strategy which we set out at our investor seminar in December last year. We remain on track for this year's guidance on production, projects and investments and on our strong mid-term production growth. We now have a solid foundation in place to drive ongoing efficiency and we have a diverse pipeline of growth options for the future. When I first started as Chief Executive, I said it would take time to build a stronger Rio Tinto. In February 2021, we introduced four objectives to unlock the potenti...