According to The Australian Financial Review, Rio Tinto chief executive Jakob Stausholm wants to expand the company’s lithium and copper divisions at a time when investors are increasingly supportive of deals and his big mining rivals are consolidating.
Fresh from reporting a $US5.75 billion ($8.9 billion) half-year profit, Mr Stausholm said Rio had reached an “inflection point” as internal growth projects such as Mongolia’s Oyu Tolgoi copper mine and Argentina’s Rincon lithium approached important delivery milestones. “We would like to strengthen our lithium business, and we also have opportunities to grow our copper business,” he said. “I couldn’t care less about what the lithium price is in the next 12 months, I’m more thinking about how will the market and demand be over the next decade or two, and lithium is necessary in almost any construct of a battery.” https://www.afr.com/companies/mining/rio-tinto-interim-dividend-misses-estimates-20240730-p5jxqq
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