Rio Tinto Confirmed as Preferred Partner for the Salares Altoandinos Lithium Project in Chile
This was announced by Empresa Nacional de Minería/ENAMI, which is a state-owned Chilean mining company. This partnership marks a significant step for Rio Tinto in expanding its lithium interests.
Aerial view of an open pit mine, with workers extracting minerals.
Under the proposed terms of the agreement, Rio Tinto will acquire a 51% stake in the Salares Altoandinos project, with ENAMI retaining the remaining 49%. The completion of this transaction is contingent upon the execution of binding agreements, receipt of regulatory approvals, and other standard closing conditions. Rio Tinto is set to advance the preliminary and detailed feasibility studies for the project, which will pave the way for a conclusive final investment decision.
The CEO of Rio Tinto, Jakob Stausholm, expressed honor at being chosen by ENAMI, and highlighted the Salares Altoandinos project's potential to become a world-class lithium development. He also emphasized the opportunity to build on Rio Tinto's existing interests in Nuevo Cobre and Salar de Maricunga, which aims to support Chile's position as a leading producer of minerals crucial for the energy transition. Rio Tinto Group (NYSE:RIO) explores, mines, and processes mineral resources worldwide. It operates through Iron Ore, Aluminium, Copper, and Minerals Segments.
While we acknowledge the potential of RIO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RIO and that has 100x upside potential, check out our report about the cheapest AI stock.
READ NEXT: and .
Disclosure: None. This article is originally published at Insider Monkey.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
16 minutes ago
- Yahoo
BigBear.ai Cuts 2025 View After Weak Q2
(NYSE:BBAI) sank about 20% after hours as a tough Q2 and a sharp guidance cut swamped the company posted a loss per share of $0.71 versus a consensus loss of $0.06. Revenue was $32.5 million, down 18% year over year and below the $40.58 million estimate. Warning! GuruFocus has detected 4 Warning Signs with BBAI. Full year 2025 revenue is now pegged at $125 million to $140 million, cut from $160 million to $180 million. Management blamed federal contracting disruptions and said recent capital raising lines up with opportunities tied to the One Big Beautiful Bill, especially at the Department of Homeland Security. CEO Kevin McAleenan said efficiency efforts have disrupted programs that support the U.S. Army as it consolidates and modernizes data architecture. That backdrop drove the guide down. sells AI powered software that helps clients analyze data, spot blind spots and predict outcomes, but near term visibility just got tougher. a big earnings miss and a sizable guide cut refocus investors on execution, award timing and next proof points are federal award flow and Q3 pacing updates that can reset confidence in 2025 targets. This article first appeared on GuruFocus.
Business Wire
17 minutes ago
- Business Wire
Rosen Law Firm Urges SelectQuote, Inc. (NYSE: SLQT) Stockholders with Losses in Excess of $100K to Contact the Firm for Information About Their Rights
NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of purchasers of securities of SelectQuote, Inc. (NYSE: SLQT) between September 9, 2020 and May 1, 2025. SelectQuote describes itself as an 'insurance broker which sells Medicare Advantage and other health insurance plans online and by telephone.' For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653. The Allegations: Rosen Law Firm is Investigating the Allegations that SelectQuote, Inc. (NYSE: SLQT) Misled Investors Regarding its Business Operations. According to the lawsuit, throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (1) SelectQuote was directing Medicare beneficiaries to the plans offered by insurers that best compensated SelectQuote, regardless of the quality or suitability of the insurers' plans; (2) SelectQuote did not provided unbiased comparison shopping for Medicare Advantage insurance plans; (3) SelectQuote received illegal kickbacks to steer Medicare beneficiaries to certain insurers and limit enrollment in competitors' plans; (4) as a result, SelectQuote had not complied with applicable laws, regulations, and contractual provisions; (5) SelectQuote was vulnerable to regulatory and legal sanctions as a result of its conduct, including claims that it had violated the False Claims Act; and (6) as a result of the foregoing, defendants' positive statements about SelectQuote's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages. What Now: You may be eligible to participate in the class action against SelectQuote, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by October 10, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders. Follow us for updates on LinkedIn: on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome.
Yahoo
22 minutes ago
- Yahoo
Arhaus, Sleep Number, Williams-Sonoma, Academy Sports, and Bath and Body Works Shares Skyrocket, What You Need To Know
What Happened? A number of stocks jumped in the morning session after a tame inflation report boosted investor hopes for an interest rate cut from the Federal Reserve. The latest Consumer Price Index data showed the annual inflation rate held steady at 2.7%, reassuring investors who had feared that tariffs could lead to a spike in consumer prices. This milder-than-expected reading gives the Federal Reserve more flexibility to consider lowering interest rates, possibly as soon as next month. A potential rate cut could reduce borrowing costs for consumers and businesses, stimulating more spending and providing a significant boost for the retail industry. Adding to the optimism, reports of a 90-day tariff truce with China further eased concerns about future price pressures. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Among others, the following stocks were impacted: Home Furniture Retailer company Arhaus (NASDAQ:ARHS) jumped 7.1%. Is now the time to buy Arhaus? Access our full analysis report here, it's free. Home Furniture Retailer company Sleep Number (NASDAQ:SNBR) jumped 7.3%. Is now the time to buy Sleep Number? Access our full analysis report here, it's free. Home Furniture Retailer company Williams-Sonoma (NYSE:WSM) jumped 3.3%. Is now the time to buy Williams-Sonoma? Access our full analysis report here, it's free. Sports & Outdoor Equipment Retailer company Academy Sports (NASDAQ:ASO) jumped 5.4%. Is now the time to buy Academy Sports? Access our full analysis report here, it's free. Beauty and Cosmetics Retailer company Bath and Body Works (NYSE:BBWI) jumped 3%. Is now the time to buy Bath and Body Works? Access our full analysis report here, it's free. Zooming In On Sleep Number (SNBR) Sleep Number's shares are extremely volatile and have had 89 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The previous big move we wrote about was 8 days ago when the stock gained 4.5% on the news that markets rebounded following a sharp sell-off in the previous trading session as a weaker-than-expected July jobs report fueled investor hopes for a potential interest rate cut. The U.S. economy added only 73,000 jobs in July, falling well short of the 110,000 expected by economists. This disappointing data has led to a dramatic shift in market sentiment regarding the Federal Reserve's next move. According to the CME FedWatch Tool, the probability of a September interest rate cut has surged from around 40% to over 80%. Lower interest rates generally stimulate the economy by making borrowing cheaper for consumers. This can lead to increased spending on discretionary items, such as apparel and home goods, which directly benefits consumer retail companies. The prospect of more accommodative monetary policy is therefore boosting investor confidence in the sector's outlook. Sleep Number is down 38% since the beginning of the year, and at $9.27 per share, it is trading 54.6% below its 52-week high of $20.41 from December 2024. Investors who bought $1,000 worth of Sleep Number's shares 5 years ago would now be looking at an investment worth $200.32. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
