Oyu Tolgoi copper output rises 27% in the third quarter to 113,500 tonnes
Rio Tinto’s third-quarter report shows Oyu Tolgoi lifted copper production 27% year on year on the underground ramp-up, bringing output for the first nine months to 312,000 tonnes.
Copper production at Oyu Tolgoi rose 27% year on year to 113,500 tonnes in the third quarter of 2026, according to Rio Tinto's quarterly production report published on October 14. Output was 17% higher than in the previous quarter, and production for the first nine months reached 312,000 tonnes, up 29%.
Underground ramp-up drives growth
Rio Tinto said the increase was driven by the continued ramp-up of underground operations, higher ore grades and improved recovery rates. Of the 11.2 million tonnes of ore treated in the quarter, 3.8 million tonnes came from the underground mine, where the average copper head grade reached 2.36%. The operation produced 493,000 tonnes of copper concentrate containing 123,600 ounces of gold. The third quarter of 2025 had been affected by a planned concentrator shutdown, which this year took place in the second quarter.
"Oyu Tolgoi copper production increased 29% year-to-date, with the operation running at a ~450 kt annualised rate in the quarter," Rio Tinto Chief Executive Simon Trott said. The company said the ramp-up remains on track to deliver an average of around 500,000 tonnes of copper a year from 2028 to 2036.
Lower gold grades ahead in the open pit
Rio Tinto said it had recently completed mining a high gold-grade area of the open pit and that the next planned phases contain lower gold grades for the rest of 2026 and into 2027. It added that in June 2026 the Government of Mongolia agreed to begin work on resolving the Entrée licence transfer for Panel 1. While that is in progress, the company is advancing Panels 0 and 2 North, followed by Panel 2 South. During the quarter it also formally signed the previously agreed adjustment to the Oyu Tolgoi shareholder loan interest rate, as part of the periodic review under the Shareholders Agreement.
Rio Tinto's total copper production was 205,000 tonnes in the quarter, flat year on year, as growth at Oyu Tolgoi offset declines at Kennecott and Escondida, a point highlighted by BloombergTV Mongolia. The group's 2026 copper production guidance remains unchanged at 800,000–870,000 tonnes.
The report comes as debate continues in Mongolia over the government's public survey on how to spend Oyu Tolgoi dividends and over proposed amendments to the Minerals Law.
Sources: Rio Tinto third quarter 2026 operations review; BloombergTV Mongolia.
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