(Reuters) -Australian mining giant Rio Tinto forecast higher consolidated mined copper production for fiscal 2025 on Wednesday, driven primarily by an anticipated 50% surge in output from its Oyu Tolgoi operation in Mongolia next year.

Rio Tinto (NYSE:RIO) on Wednesday forecast higher copper output in the coming year as the miner ramps up the Oyu Tolgoi underground copper mine, but expects its annual iron ore shipments from its Australian operations to be little changed in 2025.

The mining giant has its eyes on more copper production in Western Australia. The post Rio Tinto shares higher on $615m copper deal with Sumitomo appeared first on The Motley Fool Australia.

LONDON (Reuters) -Anglo-Australian mining group Rio Tinto on Wednesday lifted its capital expenditure guidance for 2025 and forecast higher copper production, mostly on an anticipated 50% output surge from its Mongolian assets.