Rio Tinto $RIO (+2.18%) and AMG Metals Materials (AMG M&M), an energy transition solutions provider, have signed a Memorandum of Understanding to jointly explore the feasibility of developing an integrated low-carbon aluminum project powered by renewable energy in India. AMG M&M is promoted by the two founders of Greenko and AM Green.

Together, the parties will explore the potential development of a primary aluminum smelter with a capacity of up to 1 million tonnes per annum (Mtpa) and alumina production of 2 Mtpa, both powered by renewable wind and solar energy supported by pumped hydro storage. The development includes a study to evaluate a potential primary aluminum smelter with a capacity of 500,000 tonnes per annum in a favorable location in India.

Rio Tinto Aluminum CEO Jérôme Pécresse said: "This study is an important step in our ambition to grow our global low-carbon aluminum footprint while exploring new project approaches and opportunities in emerging markets. The partnership with AMG Metals Materials allows us to explore how we can develop cost-effective and responsible aluminum production based on renewable energy. With its rapid economic growth and strategic location, India is a compelling location for this potential project and is in line with our long-term vision of a more diverse and resilient global aluminum business.

As part of the study, AMG M&M will explore a firm renewable energy solution with Greenko, while Rio Tinto will explore a commercial solution for alumina. The study will also evaluate smelting technology options to determine the most cost-effective solution for the project.

Mahesh Kolli, Group President of AMG Metals Materials and Greenko, said: "Over the last few years we have been able to deliver a variety of decarbonization solutions that include power, molecules, chemicals and fuels. We are delighted to now extend this to the materials sector. This MoU could deliver much-needed low-carbon metals at scale to drive decarbonization initiatives in global supply chains in the automotive, construction, packaging and many other industries."

The mining group Rio Tinto $RIO (+2.18%) felt only a limited impact on its raw materials in the first quarter from new tariffs imposed by US President Donald Trump on steel and aluminum imports. "However, it is uncertain how the tariffs will affect commodity markets in the future," the company said.

Rio Tinto is the largest foreign supplier of aluminum to the U.S., primarily from smelters it operates in neighboring Canada. The company has previously stated that it has contingency plans to sell aluminum to other markets, such as Europe.

On Wednesday, Rio Tinto said it expects the U.S. economy could be hurt by the tariffs. It noted that trade flows in borates - used in fertilizers, batteries and smartphone screens, among other things - "are already being adjusted in response to the tariffs imposed in the US and China".

According to the company, Rio Tinto's production in California, for example, covers around 30 percent of global demand for refined borates.

Iron ore shipments from Rio Tinto's $RIO (+2.18%) huge Australian mining operations are likely to be at the lower end of the mining company's estimates this year following the disruptions caused by four cyclones in recent months.

The mining group, which makes most of its profits from mining the steelmaking material in Australia's remote Pilbara region, said on Wednesday that it shipped 70.7 million tons of iron ore from these operations in the three months to March.

This is 9 percent less than in the same period last year and 17 percent less than in the immediately preceding quarter. It is the company's weakest first-quarter result since 2019.

Rio Tinto, the world's second-largest mining company by market value, was hit by disruption and damage from cyclones in northwest Australia in early 2025. The company recently estimated that it lost around 13 million tons of supply due to tropical cyclones Tahlia, Vince, Zelia and Sean.

The company said it still expects to ship between 323 and 338 million tons this year, confirming statements made in December. However, exports could be at the lower end of the range due to these losses.

The first quarter result disappointed analysts, who had expected shipments of around 73.3 million tons according to a consensus estimate compiled by Visible Alpha.

Rare Earths Limited is pleased to announce that it has entered into a binding agreement with Rio de Contas Desenvolvimentos Minerais Ltda (Rio Tinto Brazil) to amend the Amargosa Tenement Acquisition Agreement.

Amargosa Bauxite Project

Amargosa is a large, advanced-stage bauxite project acquired by Rio Tinto in 2023 and is adjacent to selected BRE rare earth properties in Bahia, Brazil.

The large bauxite project benefits from more than ten years of exploration by Rio Tinto, including 56,919 meters of drilling in 4,257 holes and detailed geological datasets.

Exploration to date has confirmed thick, high-grade bauxite zones from surface, including intercepts such as 27.5 meters with a total available alumina grade of 51.3% and minor amounts of reactive silica and iron.

BRE and Rio Tinto $RIO (+2.18%) have signed a binding agreement to replace the existing US$40 million bauxite milestone payment on the Amargosa bauxite project with a fixed royalty of US$1.00 per wet tonne on future bauxite sales.

Air Products & Chemicals $APD (+0.85%)

Ecolab $ECL (+1.64%)

CRH $CRH (-0.13%)

Linde $LIN (+1.12%)

Sherwin-Williams $SHW (+0.84%)

Rio Tinto (With $RIO (+2.18%) I am more interested in the attractive valuation, dividend and investments in future areas such as copper/lithium)

In the basic materials sector, stock selection was not easy for me. I had to adjust my usual quality standards somewhat and in some cases also make compromises (see above 🤓). The sector is very cyclical, which makes it more difficult to find companies with consistently stable performance. Many key figures are heavily distorted by fluctuations in commodity prices, economic influences or geopolitical factors. At the same time, however, it also offers interesting opportunities for long-term investors, especially if an anti-cyclical entry is successful 🫣.

Which companies do you see as particularly promising for a long-term investment?

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I am also fascinated by the idea of profiting from gold actively and with dividends. That's why I've been looking at gold stocks and have my eye on Franco-Nevada and Agnico Eagle in particular. Neither of them made it into the selection above, but I wanted to mention them anyway. Even though I am not yet invested, I will definitely continue to monitor both stocks.

$FNV (-0.68%) Franco Nevada is a royalty company with low operating risk but high gold price leverage.

$AEM (-0.65%) Agnico Eagle is a classic mining company with a good balance sheet and a decent dividend history.

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Primetals Technologies, together with its partner Mitsubishi $8058 (+1.44%)the steel manufacturer voestalpine $VOE (+1.13%) and the mining group Rio Tinto $RIO (+2.18%) signed a cooperation agreement for the construction of an industrial-scale prototype plant for hydrogen-based iron production in Linz, Austria.

The aim of the partners is to drive forward the development of fluidized bed and smelting technologies that could lead to net-zero CO2 emissions in iron production. The plant, which is scheduled to go into operation in mid-2027, will be the first time that a hydrogen-based direct reduction plant for fine ore will be integrated with a smelting plant producing pig iron briquettes, pig iron and pig iron.

The prototype plant will combine two core technologies of Primetals Technologies - hydrogen-based fine ore reduction (HYFOR) and the smelter. HYFOR is the first DR technology for processing iron ore fines without agglomeration and has been in pilot operation at the voestalpine Donawitz site since 2021. The smelter uses renewable energy to melt and further reduce the direct reduced iron (DRI), producing pig iron with potentially zero CO2 emissions.

"This project represents a significant step forward in future-proof ironmaking - for the first time we will implement a continuous production process with hydrogen-based direct reduction," said Alexander Fleischanderl, Chief Technology Officer and Head of Green Steel at Primetals.

"The combination of HYFOR and Smelter is a highly innovative development that has the potential to change the industry, similar to how the LD converter (BOF) has impacted steel production. We are very proud to have voestalpine, Rio Tinto and Mitsubishi as strong partners and together we are able to play a key role in shaping the future of ironmaking with net CO2 emissions."

The new plant will have a capacity of three tons of pig iron per hour.

Mitsubishi, a strategic partner in the development, will support the expansion of the technology through its ferrous raw materials business. "Mining and trading of ferrous raw materials has been one of our core businesses for many decades, and we intend to develop a new range of low-emission metals to support the decarbonization of the steel industry," said Kenichiro Tauchi, COO of the Group's ferrous raw materials business.

"HYFOR and Smelter are promising new technologies to accelerate the decarbonization of the steel industry, and Mitsubishi Corporation is pleased to participate as a strategic partner of Primetals Technologies in the development of these breakthrough technologies together with leading partners in the steel supply chain."

voestalpine sees the project as being in line with its greentec steel strategy. "With greentec steel, voestalpine has a clear step-by-step plan for CO2-neutral steel production," says voestalpine CEO Herbert Eibensteiner.

"As a first step, a green electric arc furnace will be put into operation at both the Linz and Donawitz sites from 2027. By 2029, we will reduce our CO2 emissions by up to 30% compared to 2019. This corresponds to almost 5% of Austria's total annual CO2 emissions and makes greentec steel the largest climate protection program in Austria. Our long-term strategy is to achieve climate-neutral steel production with green hydrogen. Together with Primetals Technologies and Rio Tinto, we are taking a completely new and promising path in research into hydrogen-based pig iron production."

Rio Tinto, one of the world's largest iron ore producers, will supply 70% of the iron ore feedstock for the plant, sourced from its Pilbara operations, the Iron Ore Company of Canada and the future Simandou operations.

"We are pleased to join a consortium that covers the entire iron and steelmaking value chain," said Thomas Apffel, General Manager for Steel Decarbonization at Rio Tinto. "By contributing our ironmaking expertise and iron ore from the Pilbara, Iron Ore Company of Canada and the future Simandou operations, we aim to drive the development and adoption of fluidized bed technology. This fines-based ironmaking solution is a compelling alternative to shaft furnace technology as it eliminates the need for pelletization, which can offer significant benefits to both steelmakers and mining companies. Rio Tinto welcomes the addition of further participants to the consortium and looks forward to supporting the widespread adoption of this innovative technology."

The project has been supported by several EU and Austrian government initiatives. These include the Austrian Federal Government's "Transformation of Industry" program managed by Kommunalkredit Public Consulting (KPC), the "Twin Transition" initiative managed by Austria Wirtschaftsservice (aws), the EU Coal and Steel Research Fund under the Clean Steel Partnership and the EU's Clean Hydrogen Partnership under the Hydrogen Valleys.