0211 GMT - Rio Tinto's joint venture with Codelco to develop a lithium project in Chile's Salar de Maricunga is in line with the miner's growth and value-creation strategy, and shouldn't be too much of a surprise to the market, say Goldman Sachs analysts Paul Young and Chris Bulgin. In a note, the analysts say Rio Tinto's management had previously been complimentary of the merits of the Maricunga project. "Rio is taking the view of consolidating the best brines in the lithium triangle, Corporacion Nacional del Cobre de Chile with first mover advantage in a breakthrough DLE [direct lithium extraction] technology," say Young and Bulgin. GS has a buy rating and a A$140.80/share target on Rio Tinto. The stock is up 0.8% at A$120.15. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
May 20, 2025 22:11 ET (02:11 GMT)
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