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Rio Tinto Limited ( (AU:RIO) ) has issued an update.
Rio Tinto has announced updates to its Mineral Resources and Ore Reserves in several key locations to support its 2024 annual reporting. The company reported significant increases in Proved Ore Reserves at its Amrun deposit in Australia and in Ore Reserves at the Porto Trombetas deposit in Brazil. Additionally, there was an increase in Indicated Mineral Resources at the Winu project in Western Australia and a substantial rise in Mineral Resources at the Quebec Operations in Canada. These updates reflect improvements in classification methodologies and confidence in the underlying resources, but also highlight some decreases in Mineral Resources in certain areas due to reclassification and updated data.
More about Rio Tinto Limited
Rio Tinto Limited is a leading global mining group focused on finding, mining, and processing mineral resources. The company operates across a variety of sectors including aluminum, copper, diamonds, gold, industrial minerals (borates, titanium dioxide, and salt), iron ore, and uranium, with significant market focuses in Australia, Canada, and Brazil.
YTD Price Performance: 5.08%
Average Trading Volume: 771
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $108.6B
See more insights into RIO stock on TipRanks’ Stock Analysis page.
