Rio Tinto and Glencore both reported substantial profit gains for the first half of 2025, according to Oilprice and Bloomberg Markets. Rio Tinto recorded a 43% increase in profit over the period, while Glencore's trading division generated $2.9bn, with both companies citing elevated commodity prices and geopolitical uncertainty stemming from Middle East conflict as contributing factors. Bloomberg Markets separately reported that Rio Tinto's results came despite headwinds from China's economic slowdown and US tariff campaigns.
Rio Tinto CEO Simon Trott stated that iron ore demand remains resilient and stable, providing direct commentary on the company's primary revenue driver. Glencore's trading division performance was attributed in part to market volatility, which amplified returns across metals and commodities.
Rio Tinto (RIO) and Glencore (GLEN) are the directly reporting companies whose H1 financials form the basis of the story. Iron ore is Rio Tinto's principal extracted commodity and a key revenue contributor in the reported results. Copper and zinc are among the metals underpinning Glencore's trading division revenues as reported by Oilprice.
Sources: Oilprice, Bloomberg Markets