Rio Tinto Commits Some $11 Billion to Lithium Foray, With More to Come -- Market Talk

Dow Jones

05-26

0113 GMT - Rio Tinto has recently committed more than US$11 billion to building its new lithium business, including the latest joint venture with Chile's Empresa Nacional de Minería, or ENAMI, says Barrenjoey analyst Glyn Lawcock. The Australian investment bank expects the miner could spend more than US$5 billion more to fully develop its pipeline of lithium projects, Lawcock says in a note. Rio Tinto says it will provide roughly US$425 million in cash as well as its direct lithium extraction technology and other non-cash contributions to take the project with ENAMI to a final investment decision. Barrenjoey has an overweight rating and A$126.00 target on Rio Tinto. Shares are down 1.0% at A$115.82. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

(END) Dow Jones Newswires

May 25, 2025 21:13 ET (01:13 GMT)

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The Australian investment bank expects the miner could spend more than US$5 billion more to fully develop its pipeline of lithium projects, Lawcock says in a note. Rio Tinto says it will provide roughly US$425 million in cash as well as its direct lithium extraction technology and other non-cash contributions to take the project with ENAMI to a final investment decision. Barrenjoey has an overweight rating and A$126.00 target on Rio Tinto. Shares are down 1.0% at A$115.82. 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The Australian investment bank expects the miner could spend more than US$5 billion more to fully develop its pipeline of lithium projects, Lawcock says in a note. Rio Tinto says it will provide roughly US$425 million in cash as well as its direct lithium extraction technology and other non-cash contributions to take the project with ENAMI to a final investment decision. Barrenjoey has an overweight rating and A$126.00 target on Rio Tinto. Shares are down 1.0% at A$115.82. 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","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"RIO.AU":"力拓","BK4588":"碎股","BK4168":"多种金属与采矿","RIO":"力拓","BK7095":"多种金属与采矿","BK7507":"资源股","BK7511":"ESG概念","BK4585":"ETF&股票定投概念"},"translate_title":"力拓承诺斥资约110亿美元进军锂业，未来还会有更多资金——市场传言","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RIO":0.9,"RIO.AU":0.9},"content_text":"0113 GMT - Rio Tinto has recently committed more than US$11 billion to building its new lithium business, including the latest joint venture with Chile's Empresa Nacional de Minería, or ENAMI, says Barrenjoey analyst Glyn Lawcock. The Australian investment bank expects the miner could spend more than US$5 billion more to fully develop its pipeline of lithium projects, Lawcock says in a note. Rio Tinto says it will provide roughly US$425 million in cash as well as its direct lithium extraction technology and other non-cash contributions to take the project with ENAMI to a final investment decision. Barrenjoey has an overweight rating and A$126.00 target on Rio Tinto. Shares are down 1.0% at A$115.82. (rhiannon.hoyle@wsj.com; @RhiannonHoyle) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 25, 2025 21:13 ET (01:13 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}