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The latest announcement is out from Rio Tinto Limited ( (AU:RIO) ).
Rio Tinto has announced the initial reporting of Mineral Resources and Ore Reserves for seven lithium assets acquired from Arcadium Lithium. These assets include four lithium brines deposits in Argentina and three hard rock spodumene deposits in Canada and Australia. This announcement positions Rio Tinto to strengthen its presence in the lithium market, which is vital for the growing demand in electric vehicle batteries. The detailed reporting of these resources and reserves highlights the company’s strategic focus on expanding its lithium production capabilities, potentially impacting its market positioning and offering significant opportunities for stakeholders.
The most recent analyst rating on (AU:RIO) stock is a Hold with a A$129.50 price target. To see the full list of analyst forecasts on Rio Tinto Limited stock, see the AU:RIO Stock Forecast page.
More about Rio Tinto Limited
Rio Tinto Limited is a leading global mining group that focuses on finding, mining, and processing mineral resources. The company is involved in the extraction of various minerals, including lithium, which is crucial for the production of batteries used in electric vehicles and other technologies.
Average Trading Volume: 1,335,557
Technical Sentiment Signal: Buy
Current Market Cap: A$186.6B
For detailed information about RIO stock, go to TipRanks’ Stock Analysis page.