Rio Tinto plc (NYSE: RIO) is in focus on 17 December 2025 as a cluster of iron-ore growth and decarbonisation headlines land alongside a renewed legal overhang tied to its alumina joint venture with Russia’s Rusal. In Australia, Rio-backed initiatives spanning Pilbara supply growth (Rhodes Ridge) and lower‑emissions iron and steel pathways (Calix “Zesty” and the NeoSmelt consortium) are shaping the narrative, while competitive pressure around Guinea’s next wave of high-grade iron ore projects continues to build.
What’s driving the Rio Tinto story on 17 December 2025
Here are the key Rio-linked developments circulating today:
- Rhodes Ridge steps into feasibility: The Rhodes Ridge JV approved a $191 million feasibility study toward a Pilbara iron‑ore mine that could initially produce 40–50Mtpa, with first ore targeted around 2030 (subject to approvals). [1]
- Green iron progress: Rio completed due diligence for Calix’s Zesty Green Iron Demonstration Project, unlocking an initial $3 million cash contribution and outlining Pilbara ore supply support if the project reaches a 2026 FID. [2]
- NeoSmelt spotlight: Australia’s ARENA-backed NeoSmelt effort—bringing together BlueScope, BHP, Rio Tinto, Woodside and Mitsui Iron Ore Development—is being positioned as a potential pathway to lower‑emissions steelmaking for Pilbara ores, with A$19.8 million allocated for a FEED study. [3]
- Rusal legal escalation: A Russian court ruling in favour of Rusal in a $1.32 billion claim against Rio Tinto adds uncertainty, even as Rio rejects the proceedings and says it will defend its position. [4]
- Market tone improves: London broker coverage today shows Berenberg lifting its Rio Tinto target to 5,300p while keeping a hold stance; Rio’s UK listing also printed a new 52‑week high during the session. [5]
Rio Tinto share price check
As of the latest available print in this briefing, Rio Tinto plc (NYSE: RIO) was indicated at $75.99.
In London, broker notes and market commentary pointed to a stronger tone in early trade, with Rio featuring among the day’s notable large‑cap miners. [6]
(Market prices are time-sensitive; always confirm live quotes before trading.)
Pilbara growth pipeline: Rhodes Ridge moves from “option” to feasibility
One of today’s most material operational headlines is the Rhodes Ridge iron‑ore project—often discussed as a long‑dated supply lever for Rio’s Pilbara system.
According to Mining Weekly’s coverage, the Rhodes Ridge JV approved a $191 million (A$294 million) feasibility study to progress the first phase of the project—described as one of the world’s largest undeveloped iron‑ore deposits. The JV partners are Rio Tinto (50%), Mitsui (40%) and AMB Holdings (10%), with Rio’s share of feasibility spend cited at $96 million (A$147 million). [7]
Key project parameters highlighted in the report include:
- The feasibility work will assess an initial operation producing 40–50 million tonnes per year of iron ore. [8]
- The partners also intend to invest $146 million (A$225 million) in exploration between 2026 and 2028 as part of the broader study program. [9]
- The feasibility study is expected to be completed in 2029, with first ore (subject to approvals) expected by 2030. [10]
- Longer-term, the project is framed as having potential capacity of about 100Mtpa and supporting Rio’s mid-term Pilbara capacity ambition of 345–360Mtpa. [11]
Why this matters for investors: Rio’s iron ore cash engine remains Pilbara-linked, but the industry is increasingly focused on product quality, replacement tonnes, and blend flexibility. A large, high-quality, infrastructure‑leveraged deposit like Rhodes Ridge can be strategically valuable—especially if it can be integrated into existing rail/port systems (as the report indicates is being considered). [12]
Decarbonising iron and steel: Zesty and NeoSmelt keep Pilbara “fit for future” talk alive
1) Calix “Zesty” green iron: due diligence completed, initial funding unlocked
A separate Australia-focused headline today: Rio Tinto has completed due diligence for Calix’s Zesty Green Iron Demonstration Project in Western Australia, enabling the first cash contribution of $3 million from Rio to the project. [13]
Mining.com.au reports that the companies executed a joint development agreement in mid‑November, with Rio funding over $35 million in cash and in‑kind support for demonstration of the technology. The Zesty approach is described as targeting up to 30,000 tonnes per year of hydrogen DRI or hot briquetted iron (HBI), and Rio would supply up to 10,000 tonnes of Pilbara iron ores for commissioning and operations if the project proceeds. A final investment decision is expected in 2026. [14]
Why this matters: Steel decarbonisation is becoming a commercial constraint, not just an ESG storyline. If lower‑emissions ironmaking routes struggle with Pilbara ore characteristics, the value of Australia’s dominant export ore bodies could be pressured over time. Rio’s participation in demonstration-scale pathways is one way the company is trying to protect demand durability for its core product suite.
2) NeoSmelt: ARENA-backed consortium aims to test a DRI–ESF pathway for Pilbara ores
In parallel, a newly published ARENA “Insights Spotlight” on the NeoSmelt joint venture puts fresh emphasis on collaborative decarbonisation R&D. The document states ARENA has allocated A$19.8 million toward a FEED study to investigate development of Australia’s largest ironmaking electric smelting furnace pilot plant on WA’s Western Trade Coast. It identifies the JV participants as BlueScope, BHP, Rio Tinto, Woodside and Mitsui Iron Ore Development. [15]
The interview-style publication also frames NeoSmelt as an effort to develop a lower‑carbon steelmaking alternative for Pilbara iron ore by combining Direct Reduced Iron (DRI) with an Electric Smelting Furnace (ESF), explicitly noting the technical challenge posed by the inherent properties of Pilbara ores and the need for cross‑value‑chain collaboration. [16]
Legal overhang: Russian court rules for Rusal in $1.32bn claim tied to Queensland Alumina
A more headline-risk development today concerns Rio’s long-running dispute with Rusal over Queensland Alumina Ltd (QAL).
Mining Weekly reports that a Russian court ruled in favour of Rusal in a 104.75 billion rouble (~$1.32 billion) lawsuit against Rio Tinto, tied to Rio taking sole control of QAL following Australian sanctions. The case was reportedly heard behind closed doors. [17]
Crucially for markets, the same report cites Rio’s position: the company rejects the Russia-based proceedings, characterising the claim as an attempt to re-litigate matters already decided in Australia, and says it will continue defending its position and take steps to protect its rights and assets. [18]
Why investors care: even if enforceability is uncertain, litigation can create headline volatility, complicate stakeholder relationships, and distract management—especially when it touches globally strategic assets and sanctions-related precedents.
Guinea iron ore: Simandou’s scale attracts attention—and competition
While today’s biggest “new” Rio headlines are Australia-linked, Guinea remains the strategic swing factor for global high‑grade iron ore.
Rio’s own Simandou project page reiterates the structure and infrastructure scale: Rio holds rights to blocks 3 and 4 via the Rio Tinto SimFer JV, and co-develops a 600km rail and port corridor through the CTG infrastructure vehicle. [19]
The same page notes Rio announced in July 2025 that first shipment was accelerated to around November 2025, with ramp-up projected over 30 months and production reaching 60Mtpa at SimFer by 2028. [20]
Today, that Simandou-led reordering of iron ore supply chains is part of a wider geopolitical and competitive story. The Financial Times reports on a US-linked iron ore developer seeking to build a new Guinea-to-Liberia export corridor positioned against the China-backed Simandou buildout. [21]
Separately, Capital Brief reports Ivanhoe Atlantic has shelved plans for a roughly $300 million ASX listing until at least mid‑2026, saying it is focusing on construction at its Kon Kweni project in Guinea while dealing with scrutiny over alleged China ties. [22]
Why this matters to Rio: Simandou is often framed as a “once in a generation” supply event. Any adjacent projects (or export-corridor politics) can influence pricing power for premium ore, infrastructure access, and the longer-term competitive landscape for seaborne iron ore.
Analyst and market sentiment: Berenberg lifts target; Rio prints a fresh 52‑week high in London
Broker notes and price action added a bullish tone to Rio’s day:
- Alliance News coverage (via Shares Magazine) reported Berenberg raised Rio Tinto’s price target to 5,300p (from 5,200p) while maintaining a hold recommendation. [23]
- MarketBeat reported Rio Tinto’s London-listed shares reached a new 52-week high, printing as high as 5,764p during trading. [24]
ESG and operational culture: Rio updates shipping safety focus
Not all of today’s Rio updates are purely “market moving,” but they matter for Google Discover audiences and long-term risk narratives.
Rio Tinto updated a corporate story on maritime safety and crew welfare today, stating it owns 17 vessels and charters another 230 ships, moving more than 300 million tons of cargo a year. The company also says its “Designated Owners and Operators” program has reduced critical shipboard incidents at terminal facilities by 40% versus a 2022 baseline and that DOO partners now represent nearly 50% of its annual global dry bulk shipping volume. [25]
What to watch next for Rio Tinto investors
If you’re tracking Rio Tinto into year-end and early 2026, the market’s next questions likely cluster around:
- Rhodes Ridge milestones: feasibility scope, approvals pathway, and how the mine would be integrated into Pilbara rail/port logistics. [26]
- Green iron economics: whether Zesty can prove cost and scalability, and what a 2026 FID would mean for Rio’s “Pilbara ore in a low‑carbon value chain” thesis. [27]
- NeoSmelt outcomes: what the FEED work reveals about technical viability and the investment required to pilot DRI–ESF routes at meaningful scale. [28]
- Legal process risk: how Rio manages the Rusal dispute across jurisdictions and what investors should assume about worst-case scenarios. [29]
- Simandou ramp narrative: confirmation of shipment cadence and the pace toward targeted production by 2028. [30]
References
1. www.miningweekly.com, 2. mining.com.au, 3. arena.gov.au, 4. www.miningweekly.com, 5. www.sharesmagazine.co.uk, 6. www.sharesmagazine.co.uk, 7. www.miningweekly.com, 8. www.miningweekly.com, 9. www.miningweekly.com, 10. www.miningweekly.com, 11. www.miningweekly.com, 12. www.miningweekly.com, 13. mining.com.au, 14. mining.com.au, 15. arena.gov.au, 16. arena.gov.au, 17. www.miningweekly.com, 18. www.miningweekly.com, 19. www.riotinto.com, 20. www.riotinto.com, 21. www.ft.com, 22. www.capitalbrief.com, 23. www.sharesmagazine.co.uk, 24. www.marketbeat.com, 25. www.riotinto.com, 26. www.miningweekly.com, 27. mining.com.au, 28. arena.gov.au, 29. www.miningweekly.com, 30. www.riotinto.com
