Rio Tinto Moving Away From Iron Ore Looks Like Good Idea -- Market Talk

Dow Jones
05/18

1327 GMT - Rio Tinto reducing its dependency on iron ore is positive even though the division will continue to deliver high margins as prices stay above the $100-a-metric-ton level, Baader's Varun Sikka writes. Iron ore prices are volatile and the price outlook is heavily dependent on Chinese economic growth. The miner has been diversifying into metals related to the transition to low-carbon energy, like lithium and copper. Copper is close to record-highs and aluminum gains on Iran war-induced supply disruptions, the analyst adds. Meanwhile, its bet on lithium might surprise markets as the war forces customers to reconsider electric vehicles, he says. As growth projects come online, there may be a material upgrade to 2026 earnings, he adds. Its London shares trade up 0.4% to 7,802 pence. (adam.whittaker@wsj.com)

 

(END) Dow Jones Newswires

May 18, 2026 09:27 ET (13:27 GMT)

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