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Rio Tinto Limited ( (AU:RIO) ) just unveiled an announcement.
Rio Tinto has announced the initial reporting of Mineral Resources and Ore Reserves for seven lithium assets acquired through the purchase of Arcadium Lithium. These assets include four lithium brine deposits in Argentina and three hard rock spodumene deposits in Canada and Australia. This marks the first time Rio Tinto is reporting these resources in compliance with the JORC Code and ASX Listing Rules. The announcement highlights Rio Tinto’s strategic expansion into the lithium market, which is crucial for the growing demand in electric vehicle batteries and renewable energy storage. This move is expected to strengthen the company’s position in the lithium industry and provide significant opportunities for growth and development.
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 operates in various sectors, including aluminum, copper, diamonds, energy products, gold, industrial minerals, and iron ore. With a strong emphasis on sustainability and innovation, Rio Tinto aims to deliver value to its stakeholders while minimizing environmental impact.
Average Trading Volume: 1,335,557
Technical Sentiment Signal: Buy
Current Market Cap: A$186.6B
See more insights into RIO stock on TipRanks’ Stock Analysis page.