| Thursday | ||||
JPMorgan analyst Dominic… JPMorgan analyst Dominic O'Kane raised the firm's price target on Rio Tinto to 7,780 GBp from 7,750 GBp and keeps an Overweight rating on the shares. | ||||
| Tuesday | ||||
Goldman Sachs analyst… Goldman Sachs analyst Paul Young downgraded Fortescue Metals (FSUGY) to Sell from Neutral with a price target of A$18.9, down from A$20.4 as part of a broader research note on bulk miners. The analyst is citing the company's premium valuation relative to BHP (BHP) and Rio Tinto (RIO) and the ongoing capex and timing risks associated with its Iron Bridge project and uncertainties around Fortescue Future Industries diversification. | ||||
| Over a week ago | ||||
Calibre Mining (CXBMF) is… Calibre Mining (CXBMF) is pleased to provide an update on the Borosi exploration project held under an earn-in option agreement between Rio Tinto Exploration (RIO) and Calibre. Calibre controls a 100% interest in the Borosi concessions located in the prolific Mining Triangle region of northeastern Nicaragua. RTX has the right to earn a 75% interest by spending US$45 million over eleven years in the project. The Borosi exploration program is being directed by RTX through a partnership agreement with Calibre as project operator. Highlights: 667km land package strategically positioned over the historic Siuna and Rosita gold/copper mining camps; Host to prospective copper and copper-gold porphyry and related skarn style mineralization; Over $20 million in exploration work completed by Calibre over the past ten years; Project includes Primavera copper-gold porphyry deposit discovered by Calibre in 2011; Borosi is relatively under-explored for bulk tonnage porphyry style base and precious metals systems; An initial 5,500 metres of diamond drilling planned for 2021. Since entering the Borosi option agreement in February 2020, the RTX team has conducted extensive evaluation of exploration data stemming from Calibre's work over the past 10 years as well as Rio's own information sources and data archives that go back several decades. More than 50 prospective target areas have been identified within the Borosi concessions. Four of these areas have been prioritized for a first pass drilling campaign totaling 5,500 metres commencing in early Q2 2021. Additionally, an orientation survey has been initiated to characterize the broader geochemical expression surrounding the Primavera copper-gold porphyry deposit discovered by Calibre in 2011. The results of this work will provide an important benchmark to guide future regional reconnaissance work to be carried out under the RTX-Calibre Exploration Alliance agreement the companies also entered in early 2020. The four areas targeted for first pass drill testing have been selected based on a combination of factors that include favorable geologic setting, surficial geochemical signature, and geophysical expression. | ||||
The company states:… The company states: "Rio Tinto today released its 2020 Taxes paid: Our economic contribution report, which shows the company made a total direct economic contribution of $47B in the countries and communities where it operates, including $8.4B of taxes and royalties. Despite the widespread challenges of COVID-19 in 2020, the contribution was up from the previous year, when Rio Tinto made a total direct economic contribution of $45.1B in the countries and communities where it operates, including $7.6B of taxes and royalties." | ||||
Barclays analyst Amos… Barclays analyst Amos Fletcher raised the firm's price target on Rio Tinto to 5,550 GBp from 5,000 GBp and keeps an Equal Weight rating on the shares. | ||||
Berenberg analyst Richard… Berenberg analyst Richard Hatch raised the firm's price target on Rio Tinto to 6,400 GBp from 6,000 GBp and keeps a Hold rating on the shares. | |
Rio Tinto has commenced… Rio Tinto has commenced production of battery-grade lithium from waste rock at a lithium demonstration plant at the Boron mine site in California, United States. Rio Tinto achieves battery grade lithium production at Boron plant. Rio Tinto has commenced production of battery-grade lithium from waste rock at a lithium demonstration plant at the Boron mine site in California, United States. The demonstration plant is the next step in scaling up a breakthrough lithium production process developed at Boron, to recover the critical mineral and extract additional value out of waste piles from over 90 years of mining at the operation. An initial small-scale trial in 2019 successfully proved the process of roasting and leaching waste rock to recover high grades of lithium.The demonstration plant has a design capacity of 10 tonnes per year of battery grade lithium. It will be run throughout 2021 to optimise the process and inform Rio Tinto's feasibility assessment for progressing to a production scale plant with an initial capacity of at least 5,000 tonnes per year, or enough to make batteries for approximately 70,000 electric vehicles. | |
DZ Bank analyst Robert… DZ Bank analyst Robert Czerwensky upgraded Rio Tinto to Buy from Hold with a 6,300 GBp price target. | |
Morgan Stanley analyst… Morgan Stanley analyst Rahul Anand raised the firm's price target on Rio Tinto to 5,740 GBp from 5,090 GBp and keeps an Equal Weight rating on the shares. |
| Over a month ago | ||||
As previously reported,… As previously reported, Societe Generale analyst Sergey Donskoy upgraded Rio Tinto to Buy from Hold with a 6,770 GBp price target following a revision of the firm's commodity price deck assumptions that included "significant upgrades" to its iron ore, aluminum and copper forecasts. He views view Rio Tinto as "a formidable dividend story" with the potential for "record dividend payments" that he expects to remain strong over 2021-23, Donskoy said. | ||||