06:42 AM EST, 12/04/2024 (MT Newswires) -- Rio Tinto (RIO) said Wednesday it expects 2025 capital expenditure to be about $11 billion, up from about $9.5 billion for this year.

The company also expects copper output to reach 780,000 to 850,000 tons in 2025, compared with 660,000 to 720,000 a year earlier.

Rio Tinto also reaffirmed its decarbonization budget of $5 billion to $6 billion through 2030 and projects a compound annual growth rate of 3% through 2033.