Subsequent purchase at $RIO (-1.52%) only just above my initial investment. This doubled the commodities sector in my portfolio.

The mining group Rio Tinto
$RIO (-1.52%)
$RIO (-1.14%) is providing more than eleven billion US dollars for the development of its lithium business, according to Barrenjoey analyst Glyn Lawcock.

This also includes money for the joint venture with the Chilean company Enami.

He expects the mining group alone to put up more than five billion dollars for the full development of a pipeline of lithium projects, Lawcock writes.

Rio Tinto said it will contribute about $425 million in cash, its direct lithium extraction technology and other non-monetary contributions to bring the project with Enami to a final investment decision.

Barrenjoey rates Rio Tinto as "Overweight" and sets a price target of 126.00 Australian dollars. The share is trading 1.0 percent lower at 115.82 Australian dollars.

Rio Tinto $RIO (-1.52%) wants to increase the capacity of its Amrun bauxite mine in the Australian state of Queensland. The mining group has announced that it is carrying out initial work to expand capacity.

Rio Tinto wants to ensure that it has enough bauxite available for its alumina plants and customers.

The project, called Kangwinan, includes a new mine and an expansion of port capacity, which would allow Rio Tinto to almost double its bauxite production in the Weipa Southern region, where Amrun is located. First production is planned around 2029, Rio Tinto said.

Production from the Kangwinan project will replace the loss of the Adoom mine in Queensland and the Gove mine in the Northern Territory, which Rio Tinto expects to close towards the end of the decade.

The aluminum oxide that Rio Tinto produces in its refineries in Queensland will be processed into aluminum in aluminum smelters in Australia and New Zealand. Rio Tinto intends to make the final investment decision in 2026.

A bauxite production capacity of up to 20 million tons would be added in Weipa Southern. The current capacity is around 23 million tons. According to the company, early work such as a camp for construction workers and an access road have already been approved.

Jakob Stausholm will be leaving his post at the world's largest iron ore producer this year. He will manage the company until a successor is found.

Melbourne. The head of the Anglo-Australian mining group Rio Tinto
$RIO (-1.52%) has announced his resignation. Jakob Stausholm will step down from his post later this year, the company announced on Thursday. The search for a successor is already underway.

In the meantime, the Danish manager will continue to lead the company until a new CEO is appointed. The world's largest iron ore producer had appointed the former CFO as CEO in 2020. His predecessor Jean-Sebastien Jacques had to step down after Rio Tinto blew up 46,000-year-old Aboriginal rock caves in the Juukan Gorge in order to access iron ore.

Source: Handelsblatt

@SAUgut77 now you can welcome me back to the club :P We seem to have similar interests in certain stocks ;)

Greetings go out to all like-minded people. :)

Rio Tinto $RIO (-1.52%) plans to ship the first iron ore from the Simandou project in Guinea in November, marking an important milestone for the world's largest high-grade iron ore mine.

The project, which is expected to produce 120 million tons annually, is 75% controlled by Chinese companies, with Rio Tinto holding the remaining 25%.

Separately, Rio Tinto closed a US$399 million deal to sell a 30% stake in its Winu copper-gold project in Australia to Japan's Sumitomo Metal Mining (SMM). The Winu project, which was discovered in 2017, contains an estimated 741 million tons of resources, including copper and gold.

Rio Tinto is now working on a pre-feasibility study for a mill capable of processing 10 million tons per year.

Rio Tinto $RIO (-1.52%) is investing USD 1.2 billion in the modernization of a hydroelectric power plant in Quebec to secure future aluminum production in the Canadian province. The mining and metals company said the move will secure its aluminum production in Saguenay-Lac-Saint-Jean for the long term and ensure a more efficient, safe and reliable supply of renewable energy to its smelters, foundries and other facilities.

The aluminum smelters in the Saguenay-Lac-Saint-Jean region are a hub for the production of a material used to manufacture everything from cans to cars to military aircraft. The plants have come under scrutiny after foreign-made aluminum became one of the first targets in the Trump administration's trade war when tariffs on aluminum and steel were imposed, which went into effect in March. Much of the aluminum the U.S. imports comes from Canada.

The diversified, globally active mining company Rio Tinto $RIO (-1.52%) has taken the next significant step in the battery metals sector by committing USD 900 million for a 49.99% stake in Chile's Salar de Maricunga, a world-class lithium project controlled by Chilean state-owned mining company Codelco.

"We are honored to have been selected as Codelco's partner to execute a world-class project with direct lithium extraction technology in the Salar de Maricunga," said Jakob Stausholm, CEO of Rio Tinto, on Monday.

"Codelco is a strategic partner for Rio Tinto in Chile... We aim to bring significant investment and long-term benefits to the Atacama region by jointly advancing Maricunga and Nuevo Cobre."

The Salar de Maricunga in Chile's Atacama region is one of the highest-grade undeveloped lithium brine resources in the world and offers the potential for scalable, long-life, low-cost production. The joint venture plans to use direct lithium extraction technology to increase efficiency and reduce environmental impact, particularly with regard to water consumption, which is a critical issue in an arid region such as northern Chile.

Under the terms of the agreement, Rio Tinto will make an initial investment of USD 350 million to support feasibility studies and resource assessments required for a final investment decision. If the project is built, a further $500 million will be invested and a bonus payment of $50 million will be made if lithium production commences by the end of 2030.

Dear Getquin Community,

As I would like to complete my portfolio with a maximum of 3 additional individual stocks in order to be represented in almost every sector, I need your support.

I am missing consumer staples, industrials and basic materials.

I would like to focus on growth with an ok dividend increase.

Do you know any good consumer stocks with good growth potential? $PEP (+0.03%)
$KO (+1.08%)
$ULVR (+0.74%)
$PG (+1.21%) The consumer stocks are good, but I don't feel there is much growth potential.

If possible, affordable shares as I can only buy whole shares. No $LOTB (+1.78%)

industry I can't choose between $CAT (-0.65%)
$SIE (+0.35%) or something regional like $STR (-0.64%) decide.

Basic materials: I'm absolutely not in there.

I would have looked at $LIN (+0.91%)
$APD (+2.19%)
$RIO (-1.52%) although I see little upside potential in the latter.

Please let me know your opinion on this, or perhaps you have already had good or bad experiences.

MfG Flo

The Norwegian sovereign wealth fund wants to seek dialog with the mining companies Rio Tinto and South32 due to environmental concerns.

The board of the world's largest sovereign wealth fund said it had come to this decision after the Ethics Council - an independent advisor appointed by the Norwegian government - recommended that it sell its shares in the companies. Instead, the board decided to take an active influence. It had decided to work with the companies to reduce serious environmental damage over a period of five to ten years.

According to LSEG data, the fund holds around 2.5 percent of Rio Tinto PLC $RIO (-1.52%)0.13 percent in Rio Tinto Ltd $RIO (-1.14%) and 2.6 percent in South32. In its recommendation, the Ethics Council had referred to environmental concerns in connection with the companies' involvement in the Mineração Rio do Norte (MRN) joint venture, a major bauxite mine in the Brazilian Amazon.