Latest news with #RioTintoGroup
Yahoo
3 days ago
- Business
- Yahoo
Rio Tinto's (RIO) Aluminerie Alouette Invests $1.1 Billion in Quebec Aluminum Smelter Upgrade
Rio Tinto Group (NYSE:RIO) is one of the top 10 materials stocks to buy according to analysts. On July 2, Aluminerie Alouette, an aluminum producer partially owned by Rio Tinto Plc, announced plans to invest up to C$1.5 billion (approximately $1.1 billion) to modernize its operations in northern Quebec, according to sources familiar with the matter. A worker in full safety gear operating an excavator in a mining operation. The Sept-Îles smelter employs approximately 900 people and has an annual production capacity of 630,000 metric tons of primary aluminum. The investment will fund technological upgrades to the smelter's infrastructure, energy efficiency improvements in production processes, enhanced production capabilities to maintain competitiveness, and strengthened environmental controls and monitoring systems. Bloomberg cited sources who said that Aluminerie Alouette has secured a new electricity supply deal with Hydro-Québec, the Quebec government-owned power utility, to support the project. The modernized project is expected to support 900 direct jobs at the smelter. It will also create thousands of indirect jobs in the regional supply chain, enhance the tax base for municipal and provincial governments, and provide supply chain security for industries like aerospace and beverage packaging. Rio Tinto Group (NYSE:RIO) is classified as a material stock because it operates in the basic materials sector, focusing on the exploration, mining, and processing of key industrial metals like iron ore, aluminum, copper, lithium, and titanium dioxide. With operations spanning over 35 countries, the company plays a crucial role in supplying raw materials for global infrastructure, manufacturing, and clean energy. Among its standout assets are the Pilbara iron ore mines in Australia and the Oyu Tolgoi copper-gold mine in Mongolia. Rio Tinto plays a pivotal role in the energy transition, particularly through its strategic investments in battery materials, such as lithium. 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. READ NEXT: 10 Best Organic Food and Farming Stocks to Buy Now and 13 Best Blue Chip Stocks to Buy According to Analysts. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Dubai Eye
3 days ago
- Business
- Dubai Eye
Trump announces 50% tariff on copper effective August 1
US President Donald Trump announced on Wednesday a 50 per cent tariff on copper to start on August 1 in a bid to promote domestic development of an industry critical to defence, electronics and automobiles. The move marks the latest in a series of sector-specific tariffs Trump has imposed on industries such as steel and aluminium, which economists warn will increase costs for American consumers. Trump indicated on Tuesday that he was introducing new tariffs on copper, sending US Comex copper futures to record highs. The announcement came just hours after he also informed Brazil that its "reciprocal" tariff would rise from 10 per cent to 50 per cent on August 1, following a diplomatic spat earlier in the week with his Brazilian counterpart, who had described him as an unwelcome "emperor." Brazil's President Luiz Inácio Lula da Silva responded on Wednesday, stating that any new tariffs would be met with reciprocal measures. The White House launched a Section 232 investigation into copper imports in February, citing legislation that allows the president to impose higher tariffs on national security grounds. Trump said on Wednesday that he had received a "robust" national security assessment which concluded that tariffs were necessary to protect domestic production of a material critical to a wide range of industries. 'Copper is essential for semiconductors, aircraft, ships, ammunition, data centres, lithium-ion batteries, radar systems, missile defence systems and even hypersonic weapons, of which we are building many,' Trump stated in a post on his platform, Truth Social. The US relies on imports for nearly half of its refined copper supply and imported 810,000 metric tonnes in 2024, according to the US Geological Survey. Countries likely to be most affected by the new tariff include Chile, Canada and Mexico - the top suppliers of refined copper, copper alloys and related products to the US in 2024, according to US Census Bureau data. Chile, Canada and Peru have informed the US administration that their exports pose no threat to American interests and should be exempt from the tariffs. All three nations have free trade agreements with the US. The steep tariff is intended to encourage greater domestic production. More than two-thirds of US copper is mined in Arizona, where the development of a major new mine proposed by Rio Tinto Group and BHP Group Limited has been stalled for over a decade.
ARN News Center
3 days ago
- Business
- ARN News Center
Trump announces 50% tariff on copper effective August 1
US President Donald Trump announced on Wednesday a 50 per cent tariff on copper to start on August 1 in a bid to promote domestic development of an industry critical to defence, electronics and automobiles. The move marks the latest in a series of sector-specific tariffs Trump has imposed on industries such as steel and aluminium, which economists warn will increase costs for American consumers. Trump indicated on Tuesday that he was introducing new tariffs on copper, sending US Comex copper futures to record highs. The announcement came just hours after he also informed Brazil that its "reciprocal" tariff would rise from 10 per cent to 50 per cent on August 1, following a diplomatic spat earlier in the week with his Brazilian counterpart, who had described him as an unwelcome "emperor." Brazil's President Luiz Inácio Lula da Silva responded on Wednesday, stating that any new tariffs would be met with reciprocal measures. The White House launched a Section 232 investigation into copper imports in February, citing legislation that allows the president to impose higher tariffs on national security grounds. Trump said on Wednesday that he had received a "robust" national security assessment which concluded that tariffs were necessary to protect domestic production of a material critical to a wide range of industries. 'Copper is essential for semiconductors, aircraft, ships, ammunition, data centres, lithium-ion batteries, radar systems, missile defence systems and even hypersonic weapons, of which we are building many,' Trump stated in a post on his platform, Truth Social. The US relies on imports for nearly half of its refined copper supply and imported 810,000 metric tonnes in 2024, according to the US Geological Survey. Countries likely to be most affected by the new tariff include Chile, Canada and Mexico - the top suppliers of refined copper, copper alloys and related products to the US in 2024, according to US Census Bureau data. Chile, Canada and Peru have informed the US administration that their exports pose no threat to American interests and should be exempt from the tariffs. All three nations have free trade agreements with the US. The steep tariff is intended to encourage greater domestic production. More than two-thirds of US copper is mined in Arizona, where the development of a major new mine proposed by Rio Tinto Group and BHP Group Limited has been stalled for over a decade.
Yahoo
25-06-2025
- Business
- Yahoo
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. Read More: and Disclosure: None. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Yahoo
25-06-2025
- Business
- Yahoo
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. Read More: and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
