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    RIO   GB0007188757

RIO TINTO PLC

(RIO)
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Delayed London Stock Exchange  -  11:38 2022-06-24 am EDT
4989.50 GBX   +1.62%
11:40aU.S. court upholds Arizona land swap deal for Rio Tinto copper mine
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06/24RIO TINTO : Memorandum of Understanding signed on cooperation to combat climate change and desertification
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06/24RIO TINTO : Memorandum of Understanding signed on cooperation to combat climate change and desertification
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Rio Tinto Looking to Jumpstart Serbia Lithium Project, Outgoing Chairman Says

05/04/2022 | 08:44pm EDT

By Rhiannon Hoyle


Rio Tinto PLC will seek to get plans for a new lithium mine in Serbia back on track following last month's elections in the country, outgoing Chairman Simon Thompson told an Australian shareholder meeting on Thursday.

Serbia in January revoked Rio Tinto's licenses for the Jadar lithium project following community protests over environmental concerns. Mr. Thompson said an inability to publish Rio Tinto's environmental studies--which he said need to first be approved by the government under local rules--led to "a bit of a vacuum" and the spread of misinformation about the project leading into the April elections.

Serbian President Aleksandar Vucic was re-elected, although his Serbian Progressive Party fell short of a majority in the concurrent parliamentary election.

"We very much hope that we will be able to discuss all of the options with the government of Serbia now the elections are out of the way to see whether we can progress this project," Mr. Thompson told investors.


Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com


(END) Dow Jones Newswires

05-04-22 2244ET

Stocks mentioned in the article
ChangeLast1st jan.
RIO TINTO PLC 1.62% 4989.5 Delayed Quote.1.99%
SILVER 0.00% 21.11 Delayed Quote.-9.80%
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Financials (USD)
Sales 2022 59 675 M - -
Net income 2022 18 812 M - -
Net cash 2022 2 823 M - -
P/E ratio 2022 5,41x
Yield 2022 14,1%
Capitalization 103 B 103 B -
EV / Sales 2022 1,67x
EV / Sales 2023 1,90x
Nbr of Employees 49 000
Free-Float 65,4%
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 61,19 $
Average target price 77,67 $
Spread / Average Target 26,9%
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Managers and Directors
Jakob Stausholm Chief Executive Officer & Executive Director
Peter Lloyd Cunningham Chief Financial Officer & Executive Director
Dominic S. Barton Chairman
Mark Davies Chief Technical Officer
Arnaud Soirat Chief Operating Officer
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