Rio Tinto stock rises 1.47 percent as Bell Bay deal secures 2031

Published on 10/04/2026 at 12:46 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Rio Tinto stock's first-half 2026 revenue reached USD 31.0 billion, up 16 percent year over year. Bell Bay secured support through 2031.

Aquarellmalerei der roten Pilbara-Landschaft mit Felsformationen und weitem Himmel — Rio Tinto plc (ISIN GB0007188757) ist in der australischen Pilbara-Region aktiv, hier als Aquarell-Landschaft dargestellt, Illustration mit AI erstellt.

Rio Tinto stock (ISIN GB0007188757) rose 1.47 percent to GBp 7,056 on the London Stock Exchange on October 2, 2026, putting the shares at 77.4 percent of their 52-week high of GBp 9,117. The immediate company catalyst was a power and government support agreement for the Bell Bay aluminum smelter through 2031.

Bell Bay secures five more years

According to Rio Tinto on October 1, 2026, Hydro Tasmania will supply electricity to Bell Bay until December 31, 2031, while the Tasmanian and Australian governments will provide additional support. The agreement replaces a power arrangement that was due to end on December 31, 2026.

The smelter produces 190,000 tonnes of aluminum annually and is 100 percent owned by Rio Tinto, according to the same company release. The operation supports 550 full-time employees and more than 1,200 indirect jobs, giving the agreement significance beyond the plant's output.

First-half earnings add operating support

Rio Tinto's first-half 2026 revenue reached USD 31.0 billion, up 16 percent from the first half of 2025, while net income rose 47 percent to USD 6.66 billion, Simply Wall St reported in its July 30, 2026 earnings update. First-half EPS increased to USD 4.10 from USD 2.79 in the comparable period.

That earnings mix matters for the Bell Bay news. The smelter's fixed power pathway improves visibility for one aluminum asset, while Rio Tinto's broader result still depends on commodity prices, especially iron ore and copper. Management also reported first-half underlying EBITDA of USD 14.8 billion, up 28 percent, and free cash flow growth of 75 percent in the July 2026 earnings call summary.

Analysts expect further upside

Consensus coverage remains constructive. MarketScreener listed an Outperform mean consensus from 21 analysts, with an average target of USD 101.95. The same page also identifies October 12, 2026 as the publication date for Rio Tinto's third-quarter operating results.

The stock's trading range frames that optimism: the October 2 price of GBp 7,056 stood below the 52-week high of GBp 9,117 but above the 52-week low of GBp 4,899. Volume reached 2,022,555 shares during the session, giving the Bell Bay agreement a market backdrop of firm daily buying rather than a new high.

Rio Tinto stock trades below yearly high

Rio Tinto stock was last at GBp 7,056 on the LSE on October 2, 2026 at 4:39 p.m. London time, up 1.47 percent on the session. The combination of a 2031 power framework and 16 percent first-half revenue growth leaves execution and commodity prices as the key variables for the next results update.