LONDON (Reuters) -Anglo-Australian mining group Rio Tinto on Wednesday lifted its capital expenditure guidance for 2025 and forecast higher copper production, mostly on an anticipated 50% output surge from its Mongolian assets.

Rio Tinto forecast higher mined refined copper production next year, driven by an anticipated surge in output from the Oyu Tolgoi mine.

(Reuters) - Australian mining giant Rio Tinto on Wednesday forecast a boost in its consolidated mined copper production for fiscal 2025, driven primarily by an anticipated 50% surge in output from its Oyu Tolgoi operation in Mongolia next year.

Rio Tinto Plc will sell a 30% stake in its Winu copper-gold project in Australia to Japan’s Sumitomo Metal Mining Co. for $399 million.

Rio Tinto has struck a deal with Sumitomo to build a new copper and gold mine in Western Australia, after years of speculation about whether the project is big enough to fit in the mining giant’s grand plans.

Rio Tinto said on Wednesday it has formed a joint venture with Japan’s Sumitomo Metal to develop and operate the Winu copper-gold project in Western Australia. Under the terms of the joint venture, Rio Tinto will continue to develop and operate Winu,