Rio Tinto invests USD 1.9 billion: Rio Tinto stock sits 22.44 percent below its high
Published on 10/23/2026 at 10:17 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSCapital and output milestones
- Rio Tinto committed USD 1.9 billion to Kangwinan on October 23, 2026.
- Third-quarter global iron ore sales reached 90.8 million tonnes, up 3.00 percent year over year.
- Rio Tinto stock trades at EUR 74.71 at 10:07 a.m. CEST at Lang & Schwarz on October 23, 2026, 0.48 percent below the Xetra close of October 22, 2026.
Rio Tinto (ISIN GB0007188757) will invest USD 1.9 billion in the Kangwinan bauxite project in Queensland, according to Rio Tinto on October 23, 2026. The stock was trading at EUR 74.71 at Lang & Schwarz, 0.48 percent below the Xetra close of EUR 75.07 on October 22, 2026.
Three milestones shape Weipa
On October 1, 2026, Rio Tinto secured Bell Bay Aluminium's operation through 2031, as stated on its Rio Tinto investor page. On October 14, 2026, its third-quarter review reported global iron ore sales of 90.8 million tonnes, up 3.00 percent from the third quarter of 2025, according to Rio Tinto. The October 23, 2026 Kangwinan decision adds a USD 1.9 billion capital commitment to that operating sequence.
What does Kangwinan add?
The project is designed to add 20 million tonnes of annual bauxite capacity at Weipa. It is intended to replace output from the ageing Andoom mine and help offset the planned 2029 end of production at Gove, while Weipa capacity rises from 38 million tonnes to 44 million tonnes per year.
The investment also extends the mine-to-port system around Amrun. A 15-kilometre conveyor and an expanded wharf are planned, while construction is expected to support more than 1,300 jobs. Rio Tinto says the investment is replacement capital already incorporated into its mid-term capital guidance.
When does output begin?
First Kangwinan output is targeted for 2029, with full production expected in 2032. The project therefore adds a long-dated growth element, but its near-term value depends on execution, permitting and the replacement of declining mines.
Stock stays below its yearly high
Rio Tinto Group has a market capitalization of EUR 121.4 billion as of October 23, 2026. Its 52-week range is EUR 58.65 to EUR 96.32, placing the current euro quote 22.44 percent below the high.
At the London Stock Exchange, the ordinary shares carry the ticker RIO. The company operates across iron ore, copper, aluminum, lithium and bauxite, with the latest operating figures showing higher copper and iron ore sales but lower third-quarter bauxite production of 15.7 million tonnes, down 4.00 percent from the third quarter of 2025.
Rio Tinto was trading at EUR 74.71 at Lang & Schwarz on October 23, 2026, at 10:07 a.m. CEST, 0.48 percent below the Xetra close of October 22, 2026 at EUR 75.07. The further course of trading is shown by the continuously updated real-time quote of Rio Tinto stock.
Rio Tinto stock key data
- Company: Rio Tinto plc
- ISIN: GB0007188757
- Ticker: RIO
- Primary exchange: London Stock Exchange
- Price Lang & Schwarz (as of October 23, 2026, 10:07 a.m. CEST): EUR 74.71
- Change versus Xetra close: minus 0.48 percent
- Xetra close (October 22, 2026): EUR 75.07
- Market capitalization: EUR 121.4 billion (as of October 23, 2026)
- 52-week range: EUR 58.65-96.32 (as of October 23, 2026)
- Sector / Industry: Basic Materials / Metal Mining
- Index membership: FTSE 100
Market context: Market report FTSE 100.
