Rio Tinto's $1.8 Billion Iron Ore Expansion Ramps Up In Australia: Details
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
Investment in Brockman Syncline Mine: Rio Tinto is investing $1.8 billion to develop the Brockman Syncline mine in Western Australia, aiming to extend the mine's life and maintain iron ore production, with first ore expected in 2027.
Acquisition of Arcadium Lithium: The company has completed a $6.7 billion buyout of Arcadium Lithium plc, which will enhance its lithium production capacity, targeting an increase from 75,000 tonnes to 150,000 tonnes by 2028.
Analyst Views on RIO
Wall Street analysts forecast RIO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for RIO is 88.33 USD with a low forecast of 66.50 USD and a high forecast of 129.50 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.
3 Analyst Rating
1 Buy
2 Hold
0 Sell
Moderate Buy
Current: 86.350
Low
66.50
Averages
88.33
High
129.50
Current: 86.350
Low
66.50
Averages
88.33
High
129.50
About RIO
Rio Tinto plc is a United Kingdom-based mining and materials company. It operates in over 35 countries, and its portfolio includes iron ore, copper, aluminum and a range of other minerals and materials. Its segments include Iron Ore, Aluminum, Copper, and Minerals. The Iron Ore segment includes iron ore mining and salt and gypsum production in Western Australia. Its iron ore operations in Pilbara comprise an integrated network of over 18 iron ore mines and four independent port terminals. The Aluminum segment includes bauxite mining, alumina refining, and aluminum smelting and recycling. The Copper segment includes mining and refining of copper, gold, silver, molybdenum, other by-products and licensing of extraction technologies. The Minerals segment includes mining and processing of borates, diamonds, iron concentrate and pellets from the Iron Ore Company of Canada, lithium and titanium dioxide feedstock.
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.
