Rio Tinto(RIO)

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Rio2 Desalinated Water Update for Expansion of the Fenix Gold Mine
Globenewswire· 2025-09-24 12:00
VANCOUVER, British Columbia, Sept. 24, 2025 (GLOBE NEWSWIRE) -- Rio2 Limited (“Rio2” or “the Company”) (TSX: RIO; OTCQX: RIOFF; BVL: RIO) announces today that following comprehensive and exhaustive due diligence and negotiations, Rio2’s Chilean subsidiary, Fenix Gold Limitada (“Fenix Gold”), has signed two separate memorandum of understandings (an “MOU”) with two companies that have desalinated water distribution facilities located in the Copiapo area, to undertake studies for the potential supply of desali ...
US defence agency reportedly seeks to buy scandium oxide from Rio Tinto
Yahoo Finance· 2025-09-23 11:10
Core Viewpoint - The US Defense Logistics Agency (DLA) plans to purchase up to $40 million worth of scandium oxide from Rio Tinto over the next five years to enhance the US defense stockpile, aiming to secure a stable supply of this critical rare earth element following China's export controls [1][3]. Group 1: Acquisition Details - The DLA intends to acquire 6.4 tonnes of scandium oxide over five years, starting with nearly 2 tonnes in the first year, which represents about 5% of the global scandium oxide production of 40 tonnes last year [2]. - The current production capacity for scandium oxide is 80 tonnes, indicating a significant reliance on global supply chains [2]. Group 2: Supply Chain Context - China's export controls on scandium, imposed in late 2024, have constrained the supply chain, prompting the DLA's acquisition strategy for the National Defence Stockpile [3]. - Rio Tinto has been identified as the only vendor capable of meeting the government's product needs at the required capacity [3]. Group 3: Domestic Production Efforts - Rio Tinto is collaborating with the US Government to identify opportunities to increase domestic production and strengthen supply chains for the US market [4]. - In August, the US awarded up to $10 million to Elk Creek Resources to bolster domestic sources, highlighting ongoing efforts to reduce reliance on foreign materials [4]. Group 4: Technological Advancements - Rio Tinto achieved a breakthrough in 2020 by developing a method to extract high-purity scandium oxide from waste streams during titanium dioxide production, which eliminates the need for additional mining [5]. - The Canadian facility in Quebec has an annual production capacity of 3 tonnes of scandium oxide, indicating potential for increased domestic supply [5]. Group 5: Financial Implications - Rio Tinto announced gross costs of up to $300 million due to US tariffs on its primary aluminium exports from Canada during the first half of 2025, which may impact its financial performance [6].
US agency wants to buy scandium oxide from Rio Tinto for defence stockpile
Yahoo Finance· 2025-09-22 11:23
Core Insights - The U.S. Defense Logistics Agency plans to purchase up to $40 million worth of scandium oxide over the next five years to secure supplies for the national stockpile, following China's export controls on the material [1][2] - The acquisition includes a target of 6.4 metric tons of scandium oxide, with nearly 2 tons sought in the first year, representing about 5% of last year's global production [2][3] - Rio Tinto has been identified as the sole vendor capable of meeting the government's requirements for scandium oxide, with the company actively collaborating with the U.S. government to enhance domestic production [4][5] Company Insights - Rio Tinto's facility in Quebec, Canada, produced its first batch of scandium oxide three years ago and currently has an annual production capacity of 3 metric tons [5] - The company has developed a process to extract high-purity scandium oxide from titanium dioxide production waste, which eliminates the need for additional mining [4]
中国让沉睡百年的160亿吨高品位铁矿重见天日!
Sou Hu Cai Jing· 2025-09-22 01:03
Core Insights - The discovery of the Simandou iron ore deposit in Guinea, containing 16 billion tons of iron ore with a grade of 66%, has significant implications for the global iron ore market [1][5][14] - China's investment and infrastructure development in Guinea have revitalized the mining project, which had been dormant for over a century due to various challenges [3][11][13] Group 1: Project Background - The Simandou iron ore deposit was discovered in the 1990s during a period of increasing global demand for high-quality iron ore, particularly from developing countries like China [5] - The deposit's high-grade ore, exceeding the global average, positions it as a critical resource for the international market, with the potential to meet nearly two years of global demand [5][7] Group 2: Investment and Development - China has committed $14 billion to the development of the Simandou project, providing advanced technology and equipment, which has led to significant progress in infrastructure, including railways and ports [11][13] - The project is expected to create thousands of jobs in Guinea and facilitate local training in mining and maintenance, aligning with sustainable development goals [13][14] Group 3: Competitive Landscape - The involvement of major mining companies like Rio Tinto and BSGR in the past highlights the competitive interest in the Simandou project, but their inability to advance the project due to political instability and high costs paved the way for China's entry [9][11] - China's strategic approach and commitment to infrastructure development have positioned it favorably in the global mining sector, potentially making Guinea the third-largest iron ore exporter [14]
铁矿四季报:供给爬坡与需求韧性的博弈
Zi Jin Tian Feng Qi Huo· 2025-09-19 12:46
1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - Static calculations suggest that China's iron ore imports in 2025 may first decrease and then increase, with a year - on - year reduction of 8.08 million tons (-0.5%) to 1.228 billion tons. The new production capacity of mines in Australia and Brazil is expanding more slowly than expected, and events such as abnormal weather significantly affect shipments. Shipments are expected to improve in the fourth quarter. The total supply will decrease by 7.95 million tons (-0.51%) to 1.525 billion tons. [5][102] - In terms of demand, in 2025, the decline in the real estate sector in China will slow down, infrastructure investment will show positive year - on - year growth, and the manufacturing industry will continue to improve. The annual iron ore demand is estimated to be 1.496 billion tons, a year - on - year increase of 55.52 million tons (+3.85%). Overseas, the pig iron production in major iron ore - importing countries is expected to decline slightly, while India's steel demand will continue to be strong. [5][102] - As of early September 2025, the inventory at 45 ports was 138 million tons. Although the mine production capacity is slowly expanding in 2025, unexpected events such as abnormal weather have a large impact on shipments. The demand growth is resilient, and hot metal production shows the characteristic of "no off - season". Static calculations indicate that the iron ore supply - demand situation is moving towards a looser state, and there is a high possibility of inventory accumulation in the fourth quarter, but short - term supply - demand tightness may still occur. [5][102] 3. Summaries According to Relevant Catalogs Supply - Global Shipment: From January to August 2025, the global daily average shipment was 4.28 million tons/day, a 0.5% decrease compared to 4.3 million tons/day in the same period of the previous year. The shipments from Australia and Brazil decreased significantly in the first quarter due to weather effects and then recovered to the previous year's level. The shipments from non - mainstream regions have been consistently low in recent years. [10] - Australia: From January to August 2025, Australia's global average daily shipment was 2.476 million tons/day, a 0.69% increase compared to the same period in 2024. The average daily shipment to China was 2.082 million tons/day, a 1.86% increase. The main production capacity increments in Australia in 2025 come from the Western Range (officially put into production on June 6, 2025) and the Onslow project (the capacity launch may be delayed until September due to road upgrades). If the weather remains normal, the iron ore shipments in the fourth quarter may maintain a certain increment. [13] - Major Australian Companies: - Rio Tinto: From January to August 2025, the average daily shipment was 804,000 tons/day, a 2.9% decrease compared to the same period in 2024. The Western Range project, which was fully put into production on June 6, 2025, is the main source of production capacity increment, but due to weather effects, the annual shipment target is affected. [17] - BHP: From January to August 2025, the average daily shipment was 791,000 tons/day, a 1.28% increase compared to the same period in 2024. In the 2025 fiscal year (July 2024 - June 2025), BHP's 100% equity production reached 29 million tons, a record high. The South Flank mine may be the main source of increment, with a stable annual production capacity of 80 million tons in the 2025 fiscal year. It is expected that BHP will achieve a high - level production in 2025, and there will be no new projects put into production in the fourth quarter. [22] - FMG: From January to August 2025, the average daily shipment was 517,000 tons/day, a 4.87% increase compared to the same period in 2024. In the 2025 fiscal year, the target range was broadened to 190 - 202 million tons. The Iron Bridge project was originally scheduled to reach full production in September 2025 but has been postponed to the 2028 fiscal year. [27] - Brazil: From January to August 2025, Brazil's average daily shipment was 1.0391 million tons/day, a 2.2% increase compared to the same period in the previous year. Vale's average daily shipment was 951,600 tons/day, a 1.02% decrease compared to the same period in the previous year. In the first half of 2025, Vale's total production was 151 million tons, a 0.3% year - on - year decrease. The production in 2025 is expected to be close to the lower limit of the target (about 325 million tons) mainly due to the licensing issues in the Serra Norte mining area restricting the increment. The Capanema project is expected to be put into production in the first half of 2025, adding 15 million tons of production capacity. The S11D +20 mining area is expected to release production capacity in 2026. [31] - Non - mainstream Regions: In 2025, the iron ore shipments from India decreased significantly, while Canada increased its exports due to cost reduction through new technologies, and South Africa's export increment was mainly due to the optimization of railway transportation capacity. From January to August 2025, Canada's average daily shipment was 164,500 tons/day, a 5.85% year - on - year increase, and South Africa's average daily shipment was 152,300 tons, a 3.8% year - on - year increase. [36][41] - China's Domestic Production: In the first seven months of 2025, China's cumulative iron ore production decreased by 3.28% year - on - year. In the fourth quarter, production is expected to recover, and the domestic iron concentrate powder production in 2025 is expected to increase by 0.05% year - on - year to 297 million tons. Some new production capacities (such as the first - phase project of Liaoning Sishanling Iron Mine and Hebei Macheng Iron Mine) have been postponed, and safety and environmental inspections in Northeast and North China have led to the phased shutdown of small and medium - sized mines. [5][51] Demand - Domestic: In 2025, the decline in the real estate sector will slow down, infrastructure investment will show positive year - on - year growth, and the manufacturing industry will continue to improve. The annual iron ore demand is estimated to be 1.496 billion tons, a year - on - year increase of 55.52 million tons (+3.85%). From January to July 2025, the estimated pig iron production was 617 million tons, a cumulative year - on - year increase of 4.32%. The estimated pig iron production in 2025 is 920 million tons, a year - on - year increase of 3.65%. [5][73] - Overseas: From January to July 2025, overseas pig iron production was 234 million tons, a year - on - year decrease of 2.31%. Among the main overseas regions, India's pig iron production continued to grow at a high rate of 7.05%, while the pig iron production in other major steel - producing countries mainly declined. [56] Inventory - Port Inventory: In the first half of 2025, due to the decline in overseas shipments and unexpected demand, the iron ore inventory at ports decreased significantly. As of September 2025, the total inventory in the iron ore industry chain decreased by about 13.6 million tons compared to the end of 2024 to 192 million tons. Looking ahead to the fourth quarter of 2025, with the release of new production capacities and the slow decline in downstream demand, the downward trend of iron ore inventory may be reversed. [86] - Variety - specific Inventory: Based on data from 15 major ports, while the total inventory is slowly decreasing, there is significant differentiation among varieties. The inventory of Brazilian ore first decreased and then increased, and the inventory of Australian ore has recently decreased significantly. The inventory of low - grade ore has decreased significantly, the overall level of medium - grade ore has increased, and the inventory of PB fines has started to reach a high level. [90] Price - In the absence of obvious incremental expectations for pig iron demand in major overseas countries and in China, the iron ore supply - demand balance will be achieved through price cuts and shipment reductions, and the cost support around $80 - 85 per ton is relatively strong. [94]
黑色金属专题报告:西芒杜投产临近,矿石供需格局如何演变?
Dong Hai Qi Huo· 2025-09-19 06:17
Group 1: Report Industry Investment Rating - The report suggests a mid - term short - allocation strategy for iron ore [4][49] Group 2: Core Viewpoints of the Report - The iron ore supply - demand pattern will gradually change with the commissioning of Simandou Iron Ore at the end of the year. The probability of the spot price exceeding $110 in the medium term is low, so it is recommended to short - allocate iron ore. Also, pay attention to the strength conversion between black - sector varieties [4][49] - The commissioning of Simandou Iron Ore will increase the supply of iron ore. Mainstream and non - mainstream mines will expand production to seize market share. At the same time, iron ore demand at home and abroad is difficult to improve significantly [4][49] Group 3: Summary According to the Directory 1. Simandou Iron Ore Commissioning Process - It is planned to ship the first batch of iron ore from Simandou in November 2025, with a volume between 50 - 100 million tons, and export through the WCS port before the completion of the SimFer port. The SimFer mine and infrastructure are progressing well. The entire Simandou project's shipping volume in 2025 is expected to be between 250 - 300 million tons [9][10] 2. Impact of Simandou Iron Ore Commissioning on Mine Business Behavior - Before the commissioning of Simandou Iron Ore, the four major mines controlled the production rhythm. After its commissioning, they are likely to adjust their business strategies and expand production. Simandou Iron Ore's cost is similar to overseas non - mainstream mines but lower than domestic mines, which may cause the marginal cost curve of iron ore to shift downward and to the right [14][17][19] 3. Overseas Mine Supply Outlook 3.1 Mainstream Mine Supply Outlook - In 2025, the mainstream mine increment is 14.02 million tons, and after 2026, the increment may exceed 35 million tons. Each major mine has expansion plans, such as Rio Tinto's Western Range project, BHP's production target increase in some mines, and VALE's new project commissioning [20][21][25] 3.2 Non - mainstream Mine Supply Outlook - In addition to Simandou Iron Ore, other non - mainstream mines are also being commissioned. For example, Australia's Onslow Iron Ore may increase production in 2026, and Brazil's CSN plans to expand the Casa de Pedra mine and increase the capacity of the P15 new mining area [26][27] 4. Iron Ore Demand Hard to Increase Significantly 4.1 Domestic Iron Ore Demand Analysis - In the short term, domestic iron ore demand is relatively strong, but there is production - limiting pressure in the fourth quarter, and the focus may be on hot metal. In the medium - to - long term, steel consumption, especially real - estate steel consumption, is difficult to improve significantly, and iron ore demand is likely to continue to decline [31][34] 4.2 Overseas Iron Ore Demand Analysis - From January to July 2025, the pig iron output in other regions except China decreased year - on - year. In the next 2 - 3 years, the new steel - making capacity overseas is mainly electric - arc furnaces, accompanied by green transformation and technological upgrading, so iron ore demand is also difficult to improve significantly [39] 5. Iron Ore Investment Opportunities Analysis in Different Cycles - In the fourth quarter, there is a risk of negative feedback in the black - industry chain, and iron ore may make up for the decline after late October. In the medium term, iron ore may be weaker than other industrial products due to the expansion cycle, and attention can be paid to the strength conversion between black - sector varieties [41][47][49] 6. Summary - The commissioning of Simandou Iron Ore is unlikely to be affected by building a smelter locally. The shipping volume in 2025 is expected to be between 250 - 300 million tons, and supply is expected to recover further after 2026. The supply of mainstream and non - mainstream mines will expand. Domestic and overseas iron ore demand is difficult to improve significantly. The supply - demand pattern will change, and it is recommended to short - allocate iron ore in the medium term and pay attention to the strength conversion between black - sector varieties [46][49]
Is Rio Tinto Stock Undervalued?
Forbes· 2025-09-17 13:15
Core Viewpoint - Rio Tinto's stock performance has been modest in 2025, influenced by concerns over iron ore demand from China, despite solid commodity fundamentals [2][6] Revenue & Earnings Potential - In 2024, Rio Tinto reported nearly $54 billion in revenue, a slight decrease from the previous year due to declining iron ore prices, while maintaining strong EBITDA margins of around 45% [3] - The net income was approximately $12 billion, translating to earnings per share in the range of $6.50–7.00 [3] Valuation Metrics - With a share price around $63, Rio Tinto trades at just below 10x earnings, which is a discount compared to global mining peers averaging 12–13x [4] - The stock has a price-to-book ratio of approximately 1.6x and an appealing dividend yield of nearly 6%, supported by strong free cash flow generation [4] Financial Stability - Rio Tinto has relatively low net debt of around $10 billion, allowing flexibility to maintain shareholder returns even in weaker commodity environments [5] - The company is focusing capital expenditures on iron ore, copper, and battery metals to capitalize on long-term electrification and infrastructure needs [5] Conclusion - The current valuation suggests investor hesitance regarding China's demand and iron ore prices, yet with a forward P/E ratio below 10 and a strong balance sheet, the stock appears attractively priced for long-term investors [6] - If commodity prices stabilize and copper growth accelerates, Rio Tinto could see earnings growth and multiple expansion, potentially offering a 20–30% upside from current levels [6] Additional Insights - Rio Tinto represents a classic value proposition, with the market potentially underestimating the strength of its cash flows and portfolio robustness [7]
Asian Markets Track Global Markets Lower
RTTNews· 2025-09-17 03:35
Market Overview - Asian stock markets are mostly trading lower, influenced by negative cues from global markets and concerns over the US Fed's anticipated interest rate cut [1][2] - Australian shares are notably lower, with the S&P/ASX 200 falling below 8,850, driven by weakness in mining and financial stocks [3][4] Australian Market Details - The S&P/ASX 200 Index decreased by 61.60 points or 0.69% to 8,816.10, while the All Ordinaries Index fell by 59.00 points or 0.65% to 9,092.20 [4] - Major miners like BHP Group and Rio Tinto are down over 1%, with Fortescue declining 1.5% and Mineral Resources slipping almost 3% [4][5] Company-Specific News - BHP announced plans to suspend operations and cut 750 jobs at a Queensland coking coal mine due to low prices and high state royalties [5] - In the tech sector, Afterpay owner Block is gaining almost 1%, while WiseTech Global and Xero are up more than 1% each [6] - PYC Therapeutics shares are down over 28% following the sudden resignation of CEO Dr. Rohan Hockings [7] Currency and Other Markets - The Australian dollar is trading at $0.668, while the Japanese stock market is modestly higher, with the Nikkei 225 up 93.52 points or 0.21% [8][9] - In the US market, major averages ended modestly lower, with the Dow down 125.55 points or 0.3% [14]
Rio Tinto Group (RIO): A Bull Case Theory
Yahoo Finance· 2025-09-16 17:01
Group 1 - Rio Tinto Group's share was trading at $63.72 as of September 8, with trailing and forward P/E ratios of 10.15 and 10.72 respectively [1] - The company operates through segments including Iron Ore, Aluminium, Copper, and Minerals, and is currently trading at a trailing P/E of approximately 8× as of September 2025, indicating a significant discount relative to sector peers and the broader market [2] - In 2024, Rio Tinto generated roughly $9.5 billion in free cash flow, resulting in a price-to-FCF multiple of about 7×, which is materially lower than the industry median of around 15× [2] Group 2 - The combination of strong free cash flow and undervalued earnings positions Rio Tinto as an attractive opportunity for equity and cash-focused investors, suggesting substantial upside potential if commodity cycles normalize [3] - The company is not among the 30 Most Popular Stocks Among Hedge Funds, with 36 hedge fund portfolios holding RIO at the end of the first quarter, down from 39 in the previous quarter [5] - Despite the potential of RIO as an investment, certain AI stocks are considered to offer greater upside potential and carry less downside risk [5]
Rio Tinto Stock: The Income Is Strong, The Catalysts Are Weak (NYSE:RIO)
Seeking Alpha· 2025-09-14 03:47
Group 1 - Rio Tinto is a significant player in the global mining industry, with a diverse portfolio that includes iron, copper, aluminium, and lithium, contributing to a strong balance sheet [1] - The company's focus on these key minerals positions it well for long-term growth and stability in the market [1] Group 2 - The article does not provide specific financial data or performance metrics for Rio Tinto, focusing instead on the company's strategic positioning within the mining sector [1]