RIO is currently stuck in an eight-day losing streak, and options bears are piling on Rio Tinto plc ADR (NYSE:RIO) is getting into the lithium market. The global mining giant that produces iron ore, copper, aluminum, and other materials officially announced its purchase of U.S.-based Arcadium Lithium (ALTM) for $6.7 billion, or $5.85 per share. RIO is down 2% to trade at $65.37 in response, while ALTM is 30% higher to trade at $5.55. Rio Tinto stock gapped lower by 4.3% yesterday when the news first broke. ...

Rio Tinto (RIO, Financial), the world's second-largest mining company, has received board approval for its $6.7 billion cash acquisition of Arcadium Lithium (ALTM). This strategic move aims to position Rio Tinto as a leading producer of critical battery materials. The company announced plans to purchase Arcadium Lithium at $5.85 per share, representing a 90% premium over Arcadium Lithium's closing share price on October 4th, before Rio Tinto confirmed its bid. CEO Jakob Stausholm remarked that this acquisit ...

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Rio Tinto (RIO, Financial) has announced its acquisition of Arcadium Lithium (ALTM), stirring excitement in the lithium industry and causing stock prices of related companies to surge. This strategic move positions Rio Tinto as the world's third-largest lithium producer, following Albemarle and SQM. The acquisition has fueled speculation that smaller lithium producers may become targets for similar deals, leading to stock price increases exceeding 10% for companies such as Liontown Resources Ltd., Sayona Mi ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important? Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Rio Tinto (RIO) . Rio Tinto currently has an average brokerage recommendation (ABR) of 1.62, o ...

Rio Tinto (RIO) has completed its previously announced acquisition of the 11.65% interest in Boyne Smelters Ltd ("BSL") from Mitsubishi Corporation (MSBHF) . BSL is located at Boyne Island in Central Queensland and is Australia's second-largest aluminum smelter. This transaction takes Rio Tinto's ownership of BSL to 71.04% while Mitsubishi will no longer have any stake in the same. Rio Tinto to Increase Stake in BSL to 73.5% On May 31, Rio Tinto agreed to acquire a 2.46% share in BSL that was held by Sumito ...

RAD's Chief Security Officer, Troy McCanna, Highlights the Impact of AI-Driven Technology on Public Safety During Interview Detroit, Michigan, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Robotic Assistance Devices (RAD), a subsidiary of Artificial Intelligence Technology Solutions, Inc. (the "Company") (OTCPK:AITX), a global leader in AIdriven security and productivity solutions for enterprise clients, is pleased to announce that its solar-powered RIO™ 360 security tower was featured in a recent segment on News 5 Cle ...

VANCOUVER, British Columbia, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Rio2 Limited ("Rio2" or the "Company") (TSXV: RIO; OTCQX: RIOFF; BVL: RIO) today announces that its Chilean subsidiary, Fenix Gold Limitada, has received the principal Sectorial Permits it requires to begin construction at its Fenix Gold Project ("Fenix Gold" or the "Project") located in the Maricunga Gold Belt of the Atacama Region, Chile. These Sectorial Permits are: 1) Mining Methods; 2) Process Plant; 3) Waste Dumps & Stockpiles; and 4) Clos ...

Rio Tinto Group (RIO) shares have gained 10.3% in the past week, outperforming the industry's 9.7% rise and the Basic Materials sector's 4.9% return. The S&P 500 has moved up 0.4% in the same timeframe. The recent jump in the RIO stock is attributed to China's announcement of the largest stimulus package since the pandemic in an attempt to revive its economic growth to its 5% target for 2024. This has led to a muchawaited recovery in iron ore prices, which so far have been weighed down by weak demand in Chi ...

China's stimulus actions boosted the mining commodity sector this week, which is great news for iron ore producers like Rio Tinto. Shares in mining company Rio Tinto (RIO 0.45%) surged by 11.3% in the week to Friday morning. The move comes as China's central bank injected liquidity into the banking system to stabilize the real estate market and help China hit its growth target of about 5% in 2024. Rio Tinto and China The miner operates from four product groups: iron ore, aluminum, copper, and minerals. Iron ...