60 Million Tonnes: Rio Tinto’s 2028 Production Goal for Simandou

Rio Tinto aims to scale its Simandou iron ore production capacity in Guinea to 60 million tonnes per year by the second half of 2028, targeting a sixfold increase from its current annualized cadence of 10 million tonnes achieved in the third quarter of 2026, latribune.fr reported.

Rio Tinto Increases Production at West African Deposit

The Anglo-Australian company published a report on Wednesday, October 14, 2026, outlining its accelerated timeline for the massive West African deposit. Rio Tinto recorded a production of 2.46 million tonnes for the third quarter of 2026, a sharp rise from the 660,000 tonnes produced the previous quarter. These early volumes represent raw material prepared for train transport ahead of final crushing in China. Operations focus on blocks 3 and 4 through the SimFer joint venture, which unites Rio Tinto, a Chinese consortium led by Chinalco, and the Guinean state. Rio Tinto holds an indirect participation of approximately 45 percent, securing an attributable capacity of 27 million tonnes annually by 2028. Combined with the Winning Consortium Simandou, which operates blocks 1 and 2, local port and rail infrastructure aims to export up to 120 million tonnes of iron ore per year.

Rio Tinto Diversifies Operations Away from Pilbara Region

Capital outlays match the scale of the venture. Rio Tinto budgeted up to $6.2 billion for its share of mine and infrastructure expenses at Simandou. Semi-annual results showed that $1.7 billion of that financial envelope remained to be spent as of July 1, 2026. Beyond output growth, the project provides Rio Tinto with geographic diversification away from its primary operations in the Pilbara region of Australia. Pilbara output targets 345 to 360 million tonnes annually, yielding fine and lump ores with an average iron content of 60.8 percent under the Pilbara Blend brand. Simandou ore offers a higher grade of 65.8 percent, matching the quality profile of the company’s IOC subsidiary in Canada, which operates at a nominal capacity of 23.3 million tonnes of concentrate per year. Bold Baatar, commercial director at Rio Tinto, explained that the multi-continent footprint broadens the company’s product offerings and helps address industry demands for decarbonization.

Equipment Delays Coincide with Declining Iron Ore Prices

Reaching the 2028 target depends heavily on uncompleted heavy equipment installations. Operational momentum slowed during the first half of 2026 following a fatal accident and reliability issues with temporary preparation facilities. Rio Tinto plans to commission a permanent crusher and the SimFer port during the fourth quarter of 2026, moving away from its current reliance on the Winning Consortium Simandou port. This industrial ramp-up coincides with declining global commodity values. The World Bank projects average iron ore prices of $97 per ton in 2026 and $95 per ton in 2027, driven by soft Chinese construction demand and rising global supply volumes. BMI analysts note that incoming shipments from Simandou will amplify this downward price pressure. Even so, Rio Tinto maintains a sales target of 5 to 10 million tonnes for SimFer in 2026, building on the 1.7 million tonnes sold over the first nine months of the year.