Rio Tinto Advances Sustainable Mining With C$7.6M Investment in Quebec Project
Rio Tinto Group (NYSE:RIO) ranks among the top stocks for an early retirement portfolio. Rio Tinto Group (NYSE:RIO) stated on June 12 that it planned to invest Cdn$7.6 million in an industrial demonstration project for evaluating ore sorting technology at its Lac Tio mine in Havre-Saint-Pierre, Quebec. A further Cdn$2.5 million is set to be contributed by the Quebec government through its support program for strategic mineral processing.
The project seeks to sift ore at the source based on its titanium and scandium levels. Through improved separation of commercially usable rock from waste rock, the procedure may minimize the amount of material transported between the mine and Rio Tinto's Sorel-Tracy processing complex, which might lower transportation costs and greenhouse gas emissions.
The project will be carried out in two stages, with activities in 2025 centering on technological validation, engineering, and ore sorting circuit commissioning. Meanwhile, additional machinery will be added in 2026 to automate the procedure and generate several batches of enriched ore.
One of the largest mining companies in the world, Rio Tinto Group (NYSE:RIO), is known for its vast range of mineral resource exploration and extraction. The company's mining portfolio includes lithium, aluminum, copper, iron ore, diamonds, gold, and molybdenum.
While we acknowledge the potential of RIO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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