Rio Tinto Invests $1.2 Billion To Modernize Century-Old Quebec Hydropower Plant
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
Investment in Hydro Power: Rio Tinto plans to invest $1.2 billion to modernize its Isle-Maligne hydroelectric power plant in Quebec, marking its largest investment in hydro assets since the 1950s, which is essential for sustainable aluminum production and job security in the region.
Project Details and Impact: The modernization project will enhance energy efficiency and safety, involve over 300 workers at peak, and includes significant upgrades to turbine-alternator units and other infrastructure, with completion expected by 2032.
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.
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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.
