Rio Tinto CEO To Step Down, Launches $1.9B Bauxite Expansion Plan
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
CEO Transition: Rio Tinto's CEO Jakob Stausholm will step down later this year, having joined the company in 2018 and taken on the CEO role in January 2021. The company's Chair praised his leadership and emphasized a focus on operational performance moving forward.
Expansion Plans: Rio Tinto plans to begin preliminary work on the Kangwinan project to expand bauxite production at the Amrun mine in Queensland, aiming for increased output by 2029 and creating over 800 construction jobs while offsetting declines from other mines set to close.
Analyst Views on SLX
Wall Street analysts forecast SLX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SLX is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
0 Buy
0 Hold
0 Sell
Current: 93.440
Low
Averages
High
Current: 93.440
Low
Averages
High
No data
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
