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Rio Tinto (RIO), Corona Canada Launch Low-Carbon Beverage Can

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Rio Tinto plc RIO and Corona Canada have launched Canada's first specially-marked, low-carbon beverage can. The can has been manufactured by Ball Corporation BALL and is available through a pilot in Ontario. It has been made utilizing aluminum from RIO and leveraging emissions-free ELYSISTM technology. As part of this limited release, 1.2 million cans have been produced equipped with a QR code, which will make consumers aware of the cans' low carbon footprint.

This pilot marks an important step toward providing consumers with a fully traceable beverage can. Going forward, Rio Tinto will leverage insights from its START initiative that will aid consumers to see the journey of their products, starting from how they were made from mine to market, along with providing sustainability data via QR codes.

Rio Tinto launched START in 2021, setting a new standard in transparency, traceability and provenance for the aluminum industry. Using the secure blockchain technology, START provides information about how Rio Tinto aluminum was made, covering criteria like carbon footprint, water use, recycled content, energy sources, community investment, safety performance, diversity in leadership, business integrity, regulatory compliance and transparency. Through START, Rio Tinto empowers its customers to make a more sustainable choice.

Infinitely recyclable and economically valuable, aluminum is the most sustainable beverage packaging material. In fact, 75% of the aluminum ever produced is still in use today.

Rio Tinto and Corona Canada's parent company Anheuser-Busch InBev (AB InBev) entered into a Memorandum of Understanding in 2020 to work with supply chain partners to bring AB InBev products to market in cans made from aluminum that meets industry-leading sustainability standards. Through the current project, Rio Tinto's low-carbon aluminum, made with renewable hydropower and metal produced using zero-carbon ELYSISTM smelting technology, will help minimize carbon emissions by more than 30%.

Ball Corporation supplies innovative, sustainable aluminum packaging solutions for beverage, personal care and household products for customers, as well as aerospace and other technologies and services primarily for the U.S. government.

Price Performance

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In the past three months, shares of Rio Tinto have fallen 25% compared with the industry's decline of 26%.

Zacks Rank & Stocks to Consider

Rio Tinto currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space are Kronos Worldwide KRO and Daqo New Energy DQ, each flaunting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.

Kronos has a projected earnings growth rate of 110% for the current year. The Zacks Consensus Estimate for KRO's current-year earnings has been revised 61% upward in the past 60 days.

Kronos has a trailing four-quarter earnings surprise of roughly 24%, on average. KRO has gained around 17% over the past three months.

Daqo New Energy has a projected earnings growth rate of 130% for the current year. The Zacks Consensus Estimate for DQ's current-year earnings has moved up 21% in the past 60 days.

Daqo New Energy has a trailing four-quarter earnings surprise of 2.16%, on average. DQ has surged 54% over the past three months.



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Rio Tinto PLC (RIO) : Free Stock Analysis Report
 
Kronos Worldwide Inc (KRO) : Free Stock Analysis Report
 
DAQO New Energy Corp. (DQ) : Free Stock Analysis Report
 
Ball Corporation (BALL) : Free Stock Analysis Report
 
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