RIO Stock Recent News

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The U.S. has more than 12,500 active mines but an aging workforce is causing headaches for the industry.

Rio Tinto (RIO) will fully transition its Kennecott operations to renewable diesel in the first quarter of 2024, which will help lower its carbon footprint.

Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF) has confirmed the cost of the Simandou iron ore project in Guinea will be $6.2bn. Described as the world's largest untapped high-grade iron ore deposit, the project is a central focus of the mining major's expansion strategy.

Rio Tinto Group Chief Executive Officer Jakob Stausholm talks about the company's Simandou project in Guinea, China's economy and the nation's demand for commodities, and the mining giant's growth strategy. The world's top iron ore exporter will spend about $6.2 billion on development of the vast project as it aims to deliver higher-quality raw material to steelmakers seeking to curb emissions.

Rio Tinto's RIO, -0.81% single biggest investment over the next few years is likely to be a huge African iron ore project that could reshape global supplies of the steelmaking ingredient.

Rio Tinto's technological advancements in mining position it as an attractive investment opportunity with financial resilience and operational efficiency. The company's advanced operating model and emphasis on automation and big data analytics give it an edge over junior miners. Rio Tinto's adoption of advanced technology and automation has led to significant cost savings and productivity improvements, making it a leader in the mining industry.

Rio Tinto is a financially healthy mining company that produces key metals for the green revolution, making it an attractive long-term investment. The stabilizing economy and increasing demand for key metals, driven by the Green New Deal and climate neutrality goals, will benefit Rio Tinto's profits and long-term demand. As long as the global economy remains stable, Rio Tinto's fundamentals are favorable. Consequently, earnings and cash flows will rise again after declining for two years.

(Kitco News) - First ore from the initial development at "one of the best" undeveloped iron ore deposits is expected by the end of this decade.

About half of America's copper supply is imported and that could jump to two-thirds by 2035, according to S&P Global.