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    RIO   GB0007188757

RIO TINTO PLC

(RIO)
  Report
Delayed London Stock Exchange  -  11:35 2022-12-05 am EST
5671.00 GBX   +1.56%
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Rio Tinto starts producing spodumene at Quebec plant

09/29/2022 | 11:47am EST

Sept 29 (Reuters) - Rio Tinto has started making spodumene concentrate, a mineral mined for its lithium content, at a plant in Quebec as the mining giant doubles down on production of the electric-vehicle battery metal.

"We are seeing strong interest in the market for a North American supply of spodumene concentrate to support production of lithium batteries," Stéphane Leblanc, managing director of Rio Tinto Iron and Titanium, said.

The Quebec plant was commissioned in June and produced its first ton of spodumene concentrate in July, according to the company.

Rio Tinto's lithium ventures have been in focus since its $2.4 billion Jadar project in Serbia was blocked earlier this year following protests sparked by environmental concerns about a planned mine.

In December last year, the company acquired Rincon Mining for $825 million to develop a large lithium brine project in the heart of Argentina's "lithium triangle". (Reporting by Ankit Kumar and Ruhi Soni; Editing by Shounak Dasgupta)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
RIO TINTO PLC 1.56% 5671 Delayed Quote.14.15%
TITANIUM OYJ 1.03% 14.65 Delayed Quote.-3.33%
All news about RIO TINTO PLC
04:45pMaterials Down on Fed Fears -- Materials Roundup
DJ
11:58aLONDON MARKET CLOSE: FTSE rises but New York feels heat from US jobs
AN
07:22aLONDON MARKET MIDDAY: FTSE 100 lifted by reopening hopes for China
AN
04:12aLONDON MARKET OPEN: FTSE 100 gain hindered as pound nears USD1.23
AN
01:10aAustralian shares end higher on mining boost; RBA decision in focus
RE
12/04Australian shares gain on mining boost, cenbank decision in focus
RE
12/02Citigroup Downgrades Rio Tinto to Neutral From Buy
MT
12/02LONDON MARKET MIDDAY: Oil stocks weigh on FTSE 100 as Total cuts ba..
AN
12/02Citigroup Downgrades Rio Tinto to Neutral from Buy, Trims PT
MT
12/02LONDON BROKER RATINGS: Jefferies raises AJ Bell to 'buy' from 'hol..
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Analyst Recommendations on RIO TINTO PLC
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Financials (USD)
Sales 2022 54 023 M - -
Net income 2022 14 158 M - -
Net Debt 2022 1 074 M - -
P/E ratio 2022 7,96x
Yield 2022 7,86%
Capitalization 115 B 115 B -
EV / Sales 2022 2,15x
EV / Sales 2023 2,38x
Nbr of Employees 49 000
Free-Float 65,5%
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Technical analysis trends RIO TINTO PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 23
Last Close Price 69,15 $
Average target price 64,28 $
Spread / Average Target -7,05%
EPS Revisions
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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