Rio Tinto reported a 47% increase in profits for the first half of 2026, driven largely by rising demand for copper, a key component used in artificial intelligence (AI) data centres, renewable energy technologies, and electric vehicles. The mining company posted earnings of £5 billion for the six months ending June 30, with over half of its revenue coming from copper and aluminium sales.

The surge in AI-related infrastructure has prompted a shift in mining priorities, as data centres require substantial amounts of copper for their construction and operation. Copper’s importance in facilitating the transition to renewable energy—through its use in solar panels and electric vehicles—has further contributed to its growing market value.

Rival miner Glencore, which abandoned merger talks with Rio Tinto earlier this year, also reported increased production figures. Glencore’s copper output rose by 15% in the half-year period ending March 31. Copper, aluminium, and lithium collectively accounted for 57% of Glencore’s earnings during this timeframe.

Following the earnings announcements, Rio Tinto’s shares rose by 1.6%, while Glencore’s stock gained 2.8%, reflecting investor confidence in the expanding market for copper and related metals. Both companies appear positioned to benefit from ongoing growth in demand for materials critical to AI infrastructure and clean energy technologies.