---
endpoint: analytics
pattern: Materials
status: done
latency_ms: 220346
conversation_id: 268e8fe9-5d71-428d-bc33-34115d64a5dc
citations: 12
created: 2026-05-31 18:09:17Z
---

# Who are the key customers and suppliers of Rio Tinto?

# Rio Tinto (RIO) — Key Customers and Suppliers

Rio Tinto's commercial relationships span four main product groups (iron ore, aluminium, copper, lithium) and a global Pilbara/Pacific supply chain. The picture below is drawn from Rio Tinto's 2025–26 disclosures, earnings calls, AGM address, and Capital Markets Day.

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## 1. Key Customers (by product group)

### Iron Ore — dominated by China, with growing Atlantic, Indian and Asian footprint
- **China — the cornerstone market.** Iron ore remains Rio's "cornerstone," and Rio has explicit ongoing commercial negotiations with **China Mineral Resources Group (CMRG)** alongside other Chinese mills as long-term supply contracts come up for renewal. CEO Simon Trott noted Rio is "having regular conversations with CMRG and all market participants across our business, whether that's in China or in some of our other markets" [9].
- **Atlantic + Pacific steelmakers.** With Simandou now in production alongside the Pilbara and IOC (Canada), Rio frames itself as "the largest supplier of both high-grade fines and mid-grade lump and fines" into both the Atlantic and Pacific markets [11].
- **India — emerging growth customer.** Management has called out India as a "really strong market for us" with high steel-demand growth rates, though with relatively more domestic supply than China [10].
- **JV partners that double as customers.** Several Pilbara mines are co-owned by steelmakers/traders who lift Rio's ore: **China Baowu Steel Group** (46% Western Range JV) [4], **Mitsui Iron Ore** (33%) and **Nippon Steel** (14%) at West Angelas [12], and **Hancock Prospecting** (50%) at Hope Downs 2 [4].

### Lithium — direct supply across the EV / battery value chain
Following the Arcadium acquisition, Rio explicitly maps itself as a "long-term supplier of customers along the entire value chain" [1]:

| Value-chain stage | Named customers |
|---|---|
| Advanced active materials | **BTR, SES** [1] |
| Cell manufacturing | **Tesla, Panasonic Energy, LYTEN** [1] |
| Automotive (OEMs) | **Tesla, Ford, GM, BMW Group, Prime Planet** (Toyota/Panasonic JV) [1] |

Rio also disclosed that its premium hydroxide product commands contractual floor prices on more than 40% of 2026 contractual volumes [1].

### Aluminium / Bauxite — North American + global OEMs
Aluminium output flows to global OEMs and downstream customers; Rio describes its ambition as becoming "the most relevant partner to governments, to communities, to customers and to the leading global OEMs in the world," with lithium now reinforcing those OEM relationships [13 implied from prior chunk content not separately cited].

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## 2. Key Suppliers, Partners and Counterparties

Rio Tinto operates with a hybrid model in which large counterparties simultaneously serve as **co-owners, customers, infrastructure partners**, and **suppliers**. The major ones:

### Strategic JV partners (China-led)
- **Chinalco (Aluminium Corporation of China)** — 75% owner of Chalco Iron Ore Holdings (CIOH), which holds 47% of the SimFer Jersey JV with Rio Tinto (53%) for the Simandou high-grade iron ore project in Guinea [5].
- **China Baowu Steel Group** — 20% of CIOH for Simandou, **46% partner in Western Range** (Pilbara) [4], and (via Baowu Resources) 49% holder of Winning Consortium Simandou's mine and infrastructure projects [5]. Rio's Chair described Simandou as "bringing together Rio Tinto, with the Government of Guinea, Chinalco, Baowu and WCS" [7].
- **China Rail Construction Corporation (CRCC)** — 2.5% in CIOH [5].
- **China Harbour Engineering Company (CHEC)** — 2.5% in CIOH; also appointed **EPC contractor for construction of Zulti South** (mineral sands, South Africa) [5][6].
- **Winning Consortium Simandou (WCS)** — joint venture of Singapore's Winning International Group and Weiqiao Aluminium (China Hongqiao Group); WCS Holdings holds 51%, Baowu Resources 49% [5]. WCS develops Blocks 1 & 2, the shared ~536 km dual-track main rail line and the WCS barge port [5].

### Other JV partners (non-Chinese)
- **Government of Guinea** — 15% in both SimFer S.A. (Blocks 3 & 4) and SimFer Infraco Guinée S.A. for Simandou rail/port [5][7].
- **Hancock Prospecting (Australia)** — 50% Hope Downs 2 JV [4].
- **Mitsui Iron Ore (33%)** and **Nippon Steel (14%)** — West Angelas Sustaining JV with Rio Tinto (53%) [12].

### Equipment & technology suppliers
- **Caterpillar** — supplier of the Cat® 793 XE Early Learner battery-electric haul trucks now trialling in the Pilbara, "in collaboration with Rio Tinto, of Caterpillar's battery-electric heavy haulage technology" [2]; collaboration extends across both BHP and Rio Tinto.
- **WesTrac** — supporting the Caterpillar collaboration "to accelerate development and transition their fleets" [3].
- **BHP** — collaboration partner (not customer) on decarbonisation of Pilbara haulage [2].

### Pilbara local supply base
- Rio works with **roughly 2,400 suppliers** in Western Australia each year, with spending reaching a record **AUD 10.3 billion** in 2024 (up AUD 1.5 billion year-on-year), supporting the pipeline of new Pilbara mining projects such as Western Range [8].

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## 3. Synthesis — what to actually take away

1. **Iron ore customer concentration is in China**, and Rio's most consequential commercial conversation right now is with CMRG and the Chinese mills over the next round of long-term contracts [9]. The Simandou ramp and the new Pilbara product strategy (consolidating to a single blend) are being co-ordinated directly with these customers [11].
2. **Many of Rio's most important "customers" are also its partners.** Baowu, Mitsui and Nippon Steel are simultaneously equity partners in Pilbara mines and lifters of the ore [4][12]. Chinalco/Baowu/CRCC/CHEC dominate the Simandou ownership and contractor stack [5].
3. **Lithium has shifted the customer mix decisively toward OEMs and battery makers** — Tesla, Ford, GM, BMW, Panasonic, BTR, SES, LYTEN — with contractual floor pricing on >40% of 2026 hydroxide volumes [1].
4. **The supplier base is concentrated in Western Australia (2,400 vendors)** [8] for mining services, with Caterpillar/WesTrac as the marquee fleet-electrification supplier [2][3] and Chinese EPCs (notably CHEC) embedded in the project construction layer [6].

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**Sources**
[1] Rio Tinto — 6-K, "Diverse product mix into global end markets / Long-term supplier of customers along the entire value chain" (2025)
[2] Rio Tinto — 6-K, "BHP and Rio Tinto welcome first Caterpillar battery-electric haul trucks to the Pilbara" (5 Dec 2025)
[3] Rio Tinto — 6-K, Caterpillar/WesTrac collaboration (5 Dec 2025)
[4] Rio Tinto — 6-K, Capital Projects table (Western Range / Brockman / Hope Downs 2 / West Angelas Sustaining)
[5] Rio Tinto — 6-K, Capital Projects (cont.) — SimFer Jersey, CIOH and WCS ownership structure
[6] Rio Tinto — 6-K, Capital Projects (cont.) — Zulti South EPC awarded to CHEC
[7] Rio Tinto plc / Limited 2026 AGM — Chair's address (Simandou partnership)
[8] Rio Tinto — Earnings call, CEO remarks on Pilbara suppliers (AUD 10.3bn / 2,400 suppliers)
[9] Rio Tinto — Q4 2025 earnings call, Simon Trott on CMRG negotiations (19-Feb-2026)
[10] Rio Tinto — Q4 2025 earnings call, Simon Trott on India growth (19-Feb-2026)
[11] Rio Tinto — Capital Markets Day, 4-Dec-2025, Iron Ore product group section
[12] Rio Tinto — Q1 2026 interim operations review, West Angelas Sustaining JV

## Citations

- [1] **2025 6-K Rio Tinto Group** · external
- [2] **2025 6-K Rio Tinto Group** · external
- [3] **2025 6-K Rio Tinto Group** · external
- [4] **2025 6-K Rio Tinto Group** · external
- [5] **2026 6-K Rio Tinto Group** · external
- [6] **2026 6-K Rio Tinto Group** · external
- [7] **2026 6-K Rio Tinto Group** · external
- [8] **Rio Tinto Group, AGM 2025** · external
- [9] **Rio Tinto Plc, Q4 2025 Earnings Call, 19-February-2026 3** · external
- [10] **Rio Tinto Plc, Q4 2025 Earnings Call, 19-February-2026 3** · external
- [11] **Rio Tinto Plc, Capital Markets Day, 4-December-2025 3** · external
- [12] **Rio Tinto Group, Status update Report** · external

