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Rio Tinto Limited (RTNTF)

Other OTC - Other OTC Delayed price. Currency in USD
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70.00-2.91 (-3.99%)
As of 1:26PM EDT. Market open.
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  • A
    Alex
    I bought some shares today... ressources will be needed for the economic recovery and the expansion of renewable energies. They should make good profits in the coming years and pay an appealing dividend.
  • J
    Jazenevc
    FWIW. Mining Weekly posted an article on lithium today “Lithium supply gap will require ’60 Jadar projects’ – Rio Tinto”.
    Start of quotes
    In a trajectory toward net zero, the global share of light vehicle sales for EVs could exceed 50% as early as 2030, reaching up to 65-million units. This, Rio Tinto head of economics Vivek Tulpule says, would imply about three-million tonnes of lithium demand, compared with about 350 000 t today.

    On the supply side, Tulpule states that there are a variety of sources available and that there is “room for all of them”.
    Existing operations and projects will contribute about one-million tonnes to supply, implying that a “substantial” gap will need to be filled, he notes.
    In slides posted online, Tulpule notes that the supply gap will require ‘over 60 Jadar projects’, referring to Rio Tinto’s lithium project in Serbia.
    He argues that committed supply and capacity expansions will contribute about 15% to demand growth over 2020 to 2050 and that the remaining 85% must come from new projects.
    The Jadar project is one of the biggest greenfield lithium projects globally. Rio Tinto has committed $2.4-billion to the project, which will produce battery-grade lithium carbonate, positioning the group as the largest source of lithium supply in Europe for at least the next 15 years.
    End of quotes
    Needless to say, the project has serious opposition from anti-mining “green” forces, no matter that it is lithium. However, Serbian government is firmly supportive. Jadar mine could come online in 2026, producing 58 KTon/year lithium.
  • P
    Peter
    The press releases are not telling the whole story about this ESG decarbonization plan(s)... If you go to the Rio Tinto website you can download the slides. I think after people digest the information and see what is going on it is more of a sensible progressive approach that management is taking. You have to understand that when these 'CARBON TAXES' are enacted, these carbon credits will ad massive extra costs to miners. Those that are prepared in advance with be least damaged. Also, much of Rio's new focus will be on new technologies, efficiencies, and pursuing more minerals for the future (Li, Cu, Ni). There is alot of wisdom in this new direction. I am optimistic after spending the time reading the whole presentation.
  • J
    Jazenevc
    Vale announced today decrease in iron ore output for q4. Both Rio and BHP already announced lower production. It looks like iron ore producers making similar decisions to cut output to keep price higher. Wise decisions. Iron ore price can swing much wide than production volume changes. Cut output by 4-5% and the price jumps 20-30% more than, making up for lost volume.
  • P
    Positive
    "In a surprise 11th hour development, China Evergrande made an overdue interest payment to offshore bondholders, the state-owned Securities Times reported Friday, an unexpected move that allows the property company to postpone - if not avoid - a default." -- ZH
  • I
    Intown Holiday
    Warren Buffett said that people who trade in and out of stock on a headline should not be in the market! Rio will be mining for years to come. Long term hold.
  • J
    Jazenevc
    Just to provide more correct perspective for Oyo Tolgoi situation. This situation is regretful, it could be handled better. Perhaps, the best idea was to stay away from Mongolia. However, Rio is a big company, operating in many corners of the world and this planet is far from perfect. It means that mining problems happen, this is part of the business.
    In more limited, investment-related terms TRQ market cap is about 2-2.5% of RIO market cap. RIO owns 50% of TRQ, it means that RIO stake in TRQ is about 1-1.2% of RIO share price valuation. If whole TRQ gets nationalized by Mongolian government without any compensation, let’s imagine this, then RIO share price can take 1% hit, maybe less because it would remove multi-year source of negative news.
    As of now, Rio main copper project is Winu in Australia, not far from the company flagship Pilbara iron ore operations.
  • J
    Jazenevc
    Significant drop in share price in London and pre-market, obviously caused by another round of “decarbonization” plans. Hope, senior management still remembers that the company main business is still in mining, not in “climate change”.
  • A
    Anonymous
    So basically China trumps the dollar being worth squat due to money printing, holding assets better than dollar, All the easy mines are found and depleting, harder to find assets, future is EV and not enough minerals. If anyone can pick the next bottom and buy there it looks like a winner.
  • J
    Jazenevc
    Local Serbian press reports today on the meeting between Serbian Minister of Mining and Energy Zorana Mihajlovic and the newly appointed Australian Ambassador to Serbia Daniel Emery. Good part of discussion was devoted to Jadar lithium project, operated by Rio.
    Start of quotes (google translated from Serbian)
    "I think that the 'Jadar' project is very important for Serbia. It is potentially one of the most successful projects that will certainly influence numerous Australian companies to invest in Serbia, not only in mining, but also in other sectors, "Emery said
    ….
    The 'Jadar' project is strategically important for Serbia and we believe that the company 'Rio Tinto' will meet all the conditions, in accordance with the highest environmental standards, and that we will get not only a lithium mine, but a complete production chain, including a battery factory or electric vehicles. All this represents the basis for the arrival of new investors and further economic development of our country, which will improve the overall bilateral relations, "said Mihajlović.
    End of quotes
  • J
    Jonathan
    First question: Anybody has a discord link for RIO?

    Secondly: im looking to buy and hold longterm, approx 1-2 decades, anybody know if their dividend yield is just temporary or is it here to stay?
  • C
    Cal
    They said they wanted to waste 7.5 billion on climate change .. not remove 15 billion of market cap come on guys lol
  • O
    O.Smith
    Glad I bought at 68 yesterday so it’s 65 today, whats going on.
  • A
    Anonymous
    Wow. I read the news bite. serious over kill here. They raised the cap x a bit between looking forward but not that much. Their new technology to produce steel......can they patent that process for all steelmakers or are they offering that for free?
  • J
    Jazenevc
    Rio made a statement yesterday that it removes most “risky places” from its no-go business list and will conduct exploration everywhere except Russia. However, looking at actual mining stories one can see that mining in Russia goes comparatively better than in many other places, including some presumably “safe jurisdictions”. Try, for example, to get a mining permit in US now and you will get new taste of “safe jurisdiction”.
    It can be noted, in general, that present top management unending drive for political correctness hurts shareholder value. Yesterday “decarbonization” release was a show of vanity that caused substantial haircut to shareholders.
  • J
    Jazenevc
    Iron ore price continues rising. It is $135.30 now in Singapore, up from $124.65 Friday closing.
  • j
    jay j
    Rio vs BHP

    More of a tax question for an American. I think with BHP you're hit twice. How does Rio work? I know some British companies, like BP, have an agreement amongst governments to waive the tax on one end or the other.

    thanks in advance
  • J
    Jazenevc
    According to local press, Angola government, presented by state diamond company Endiama signed agreement with Rio Tinto to develop Chiri diamond project in the country. First production expected in 5 years, this is a big project.
    Start of quote (google translated from Portuguese)
    The investment agreement signed today between the Ministry of Mineral Resources, Oil and Gas and the national diamond company, Endiama, and the giant Rio Tinto was being negotiated for months and today saw the light of day.
    Regarding the Chiri diamond concession, in the province of Lunda Norte, the agreement, communicated by the Ministry led by Diamantino Azevedo, covers an extension of 108 km2, within an exploration period of 35 years and foresees, in an initial phase, "participatory interests of 75 % for Rio Tinto Angola and 25% for Endiama, in addition to the constitution of a joint venture. The contract will safeguard the possibility of the Angolan party increasing its stake to 49%," the Angolan government said in a statement.
    End of quote
    It seems Rio did not drop diamond business after all, despite recent insinuations on this message board.
  • D
    D
    interested to know how the billions in capex will affect the cashflow and dividend payout
  • J
    Jazenevc
    Q3 production numbers do not bring many surprises. Iron ore production was a bit lower than expected, though it is still higher than in Q2. Iron ore price is more important, because it can swing in much wider range than production. So far, the price holds on good levels, firmly correlated with strong profits.