Últimas noticias sobre Rio Tinto (NYSE:RIO) Bolsa

Rio Tinto

Rio Tinto is a global diversified miner. Iron ore is the dominant commodity, with significantly lesser contributions from copper, aluminum, diamonds, gold, and industrial minerals. The 1995 merger of RTZ and CRA, via a dual-listed structure, created the present-day company. The two operate as a single business entity, with shareholders in each company having equivalent economic and voting rights. Major assets included the Pilbara iron ore operations, a 30% stake in the Escondida copper mine, 66%-ownership of the Oyu Tolgoi copper mine in Mongolia, the Weipa and Gove bauxite mines in Australia, and six hydro-powered aluminum smelters in Canada.

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Startups de litio innovan para enfrentar la creciente demanda global

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Arcadium Lithium plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALTM#NYSE">ALTM</a>, ASX: LTM, ", Arcadium Lithium", ))), a leading global lithium chemicals producer, today announced that it has obtained all requisite shareholder approvals in connection with the proposed acquisition by Rio Tinto previously announced on October 9, 2024.&nbsp;

ALTM

Arcadium Lithium Announces Shareholder Approval Of Proposed Rio Tinto Transaction And Provides Regulatory Update

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Shares of stocks in the broader metals and mining sector are trading lower amid overall market weakness following the Fed's rate decision to cut rates by 25 basis points.

Australia's main opposition has proposed a $211 billion taxpayer-funded nuclear power plan. If successful, the turn to nuclear power would be a historic event for one of the largest <a target="_blank" href="https://www.benzinga.com/markets/commodities" rel="noreferrer noopener">global commodity producers</a>.
"Nuclear power will underpin the economic success of our country for the next century. This will make electricity reliable. It will make it more consistent. It will make it cheaper for Australians, and it will help us decarbonize," Peter Dutton, leader of the center-right Liberal Party, said <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-12-13/australia-s-opposition-reveals-211-billion-nuclear-power-plan" rel="noreferrer noopener">per</a> Bloomberg's report.
The country's approach to climate change has been politically charged, contributing to the downfall of former Prime Minister Scott Morrison in 2022. Australia remains one of the largest per-capita polluters globally, and Dutton's proposal directly challenges the ruling Labor Party's renewables-only strategy.
He called Labor's plan costly, citing claims that a balanced energy mix, including nuclear, would save taxpayers and businesses $167 billion. Australia has no operational nuclear power plants, as the industry was banned in 1998 under the Environment Protection and Biodiversity Conservation Act.&nbsp;
Despite Australia's position as the world's fourth-largest producer and holder of <a target="_blank" href="https://minerals.org.au/about/mining-facts/mineral-uranium/" rel="noreferrer noopener">one-third of global reserves</a>, uranium mining remains banned in Western Australia and Queensland. These restrictions persist even as the Minerals Council of Australia <a target="_blank" href="https://www.benzinga.com/government/24/08/40182376/uranium-explorers-call-for-lifting-mining-ban-in-western-australia-target-1b-in-exports" rel="noreferrer noopener">advocates for lifting bans</a> to help meet global clean energy demand.
Currently, the active uranium mining operations exist at just 3 locations:
<ul>
<li>Olympic Dam – the largest known deposit in the world, owned by BHP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>)</li>
<li>Four Mile &#8211; a high-grade mine owned by Quasar Resources.</li>
<li>Ranger (Northern Territory) &#8211; controlled by Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>), but at the end of its lifespan.</li>
</ul>
Dutton's plan includes constructing seven nuclear power plants by 2050, with the first operational by 2036. If it goes through, it would be reasonable to expect the removal of mining restrictions, presenting opportunities for domestic and foreign uranium explorers. If Western Australia lifts the mining ban, operators like Toro Energy and Paladin Energy could pursue <a target="_blank" href="https://www.dmp.wa.gov.au/Uranium-1459.aspx" rel="noreferrer noopener">multiple regional projects</a>.
The largest publicly traded uranium producer, Cameco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCJ#NYSE">CCJ</a>), owns the Yeelirrie project in the region, which it acquired from BHP in 2012.
Volatile energy costs in Australia have been an issue exaggerated by significant regional disparities. In October, The Guardian <a target="_blank" href="https://www.theguardian.com/australia-news/2024/oct/18/energy-prices-soar-after-volatile-wind-saw-heavier-gas-hydro-and-battery-use-australian-regulator-says" rel="noreferrer noopener">reported</a> a price of $114/MWh in Queensland compared to $201/MWh in South Australia, as high transmission costs can constitute 40% of an energy bill.
A network of strategically placed nuclear power plants would help solve this problem, reducing the cost of commodity production and further strengthening the Australian industry. As the 2025 general elections draw closer, nuclear power and uranium mining will likely become important topics down under.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42433867/lithium-producers-brace-for-prolonged-oversupply-stalled-prices" target="_blank" rel="noreferrer noopener">Lithium Producers Brace For Prolonged Oversupply, Stalled Prices</a></li>
</ul>
Photo by metamorworks via Shutterstock

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Australian Opposition Goes Nuclear, $211 Billion Plan Could Open Doors For Uranium Miners

Rincon's capacity of 60,000 tonnes of battery grade lithium carbonate per year is comprised of the 3,000-tonne starter plant and 57,000-tonne expansion plant.

Rio Tinto Plans To Invest $2.5B To Expand Rincon Lithium Project Capacity To 60,000 Tonnes Per Year

Shares of copper companies are trading higher in possible reaction to China signaling looser monetary policy, which could support demand.

Rio Tinto's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) CEO Jakob Stausholm has dismissed activist shareholder calls to abandon the <a target="_blank" href="https://www.benzinga.com/news/guidance/24/12/42312534/rio-tinto-releases-initial-estimates-for-argentinas-rincon-project-activists-call-for-consolidation" rel="noreferrer noopener">company's primary London listing</a>.
Palliser Capital, a global multi-strategy fund that holds around $250 million in Rio Tinto shares, argued that the dual listing has destroyed $50 billion in value and hampered large-scale mergers and acquisitions.
The fund also claimed that unifying the structure under Australian listing rules could unlock $28 billion in near-term shareholder value.
Speaking at an investor seminar in London, Stausholm argued the dual-listed structure provides value to shareholders.
"We've seen no compelling evidence suggesting our current structure is not the best option for Rio Tinto," he stated <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-12-04/rio-tinto-ceo-disputes-palliser-s-call-to-quit-london-listing" rel="noreferrer noopener">per</a> Bloomberg's report. Instead, he presented an elaborate strategy to strengthen the company's diversified portfolio.
The management sees the Oyu Tolgoi mine in Mongolia playing a notable role in this plan. Its production is set to expand by 50% in 2024, contributing to the firm's goal of producing 1 million tons of copper annually by 2030.
Other copper initiatives include the Resolution project in the U.S. and the recent sale of a 30% stake in the Australian Winu project to Sumitomo for $399 million. Such strategic sales should help cover capital expenditures, set at $11 billion for 2025, up from $9.5 billion in 2024.
Rio Tinto's investments in iron ore, lithium, and aluminum are key to supporting the energy transition. Pilbara's iron ore production is expected to remain stable, while lithium operations are expanding, driven by the recent <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/10/41203850/rio-tinto-confirms-interest-in-arcadium-lithium-shares-surge" rel="noreferrer noopener">$6.7 billion bid for </a><a target="_blank" href="https://www.benzinga.com/news/large-cap/24/10/41203850/rio-tinto-confirms-interest-in-arcadium-lithium-shares-surge" rel="noreferrer noopener">Arcadium Lithium</a>.
Acquiring a firm with significant operations in South America complements Rincon's project in Argentina. This project holds over 11 million tons of lithium carbonate equivalent in resources and reserves, positioning it as a critical asset in the electric vehicle supply chain.
Stausholm reaffirmed Rio Tinto's commitment to decarbonization, targeting a 50% reduction in operational emissions by 2030 and net-zero emissions by 2050.
The elaborate <a target="_blank" href="https://cdn-rio.dataweavers.io/-/media/content/documents/invest/presentations/2024/2024-decarbonisation-update.pdf?rev=e9a396eef9174a70b8eb840070481dfa" rel="noreferrer noopener">presentation</a> laid out the company's plan to invest $5-6 billion in decarbonization by 2030, focusing on electrification, renewable energy, and breakthrough technologies.
Looking beyond 2030, the company is preparing a pipeline of 60 projects, with around $1 billion in committed research and development costs, including carbon-free smelting (ELYSIS), a metallurgical biocarbon, and a hydrogen calcination pilot plant at Yarwun, which aims to replace natural gas with hydrogen in the aluminum refinery process.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42285786/politics-halt-norwegian-deep-sea-mining-environmentalists-look-toward-japan" target="_blank" rel="noreferrer noopener">Politics Halt Norwegian Deep-Sea Mining, Environmentalists Look Toward Japan</a></li>
</ul>

Regulations

Guidance

Rio Tinto CEO Defends London Listing, Outlines Future Growth Plans

On Wednesday, Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) has unveiled the initial resource and reserve estimates for its Salar del Rincon lithium brine project in Salta, Argentina. With this project underway, Rio Tinto is strengthening its operations in a quickly growing mining market, where it established a foothold with an <a target="_blank" href="https://www.benzinga.com/m-a/24/10/41250060/arcadium-lithium-stock-is-soaring-wednesday-whats-behind-the-move" rel="noreferrer noopener">acquisition of </a><a target="_blank" href="https://www.benzinga.com/m-a/24/10/41250060/arcadium-lithium-stock-is-soaring-wednesday-whats-behind-the-move" rel="noreferrer noopener">Arcadium Lithium</a>.
The firm <a target="_blank" href="https://company-announcements.afr.com/asx/rio/eb77f42e-b1ff-11ef-9968-32bb3df8972d.pdf" rel="noreferrer noopener">reported</a> Rincon to contain 1.54 million tons of lithium carbonate equivalent (LCE) in measured resources, 7.85 million tons of LCE in indicated resources, and an additional 2.29 million tons in inferred resources. The ore reserves include 2.07 million tons of LCE in the probable category.
Located in the "Lithium Triangle," which spans Argentina, Bolivia, and Chile, the Rincon project represents a long-term asset for Rio Tinto.
The operation should produce 53,000 tons of battery-grade lithium annually for 40 years, with a potential expansion of up to 60,000. The Rincon 3000 starter plant is on track for completion by mid-2025.
In contrast to the controversial Jadar project in Serbia, which contains lithium in mineral form, Rincon's lithium is in brine, allowing for the application of advanced technologies like direct lithium extraction (DLE).
Argentina, the world's fourth-largest lithium producer, exported $835 million of lithium in 2023, comprising 20.8% of its total mining exports. Nearly half of this lithium was supplied to China for electric vehicle batteries and other technologies.
President Javier Milei, who took office in December 2023, has aggressively promoted pro-investment policies, offering tax and customs incentives to attract foreign mining firms, like McEwen Mining, investing billions into a <a target="_blank" href="https://www.benzinga.com/news/global/24/11/42243885/copper-supply-gap-drives-mcewens-2-5b-fundraising-for-los-azules" rel="noreferrer noopener">cornerstone copper project</a>.
Milei's government aims to capitalize on Argentina's vast mineral reserves, facilitating the rapid development of over 40 preliminary lithium projects.
Earlier this year, Rio Tinto acquired Arcadium Lithium – the operator of the largest Argentinian lithium Fenix project – which produced 22,000 tons, nearly half of the country's 50,000 tons last year.
However, despite management's efforts to further diversify the firm's global operations, its corporate structure has been criticized. Activist investor Palliser Capital has called on the company to consolidate its dual corporate structure by moving its primary listing from London to Australia.
According to their estimates, as reported <a target="_blank" href="https://www.reuters.com/markets/commodities/activist-investor-palliser-demands-rio-tinto-scrap-london-listing-2024-12-04/" rel="noreferrer noopener">by</a> Reuters, this "outdated" structure has lost $50 billion in shareholder value.
"Rio Tinto's approach to M&amp;A (mergers and acquisitions) is both an obvious statistical anomaly and entirely unsustainable going forward," the activist investor warned.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/global/24/12/42303132/china-retaliates-against-us-chip-sanctions-tightens-mineral-exports" target="_blank" rel="noreferrer noopener">China Retaliates Against US Chip Sanctions, Tightens Mineral Exports</a></li>
</ul>

Rio Tinto Releases Initial Estimates for Argentina's Rincon Project, Activists Call For Consolidation

<a href="https://www.riotinto.com/en/news/releases/2024/rio-tinto-and-imperial-launch-150-million-partnership-to-support-the-global-energy-transition" title="https://www.riotinto.com/en/news/releases/2024/rio-tinto-and-imperial-launch-150-million-partnership-to-support-the-global-energy-transition">https://www.riotinto.com/en/news/releases/2024/rio-tinto-and-imperial-launch-150-million-partnership-to-support-the-global-energy-transition</a>

Rio Tinto Partners With Imperial College London In $150M Initiative To Advance Sustainable Materials For Global Energy Transition

The Mexican Ministry of Finance (SHCP) has proposed raising mining royalties in the 2025 federal budget bill. The proposal suggests increasing two key taxes on mining activities, which is at a risk to the sector and <a target="_blank" href="https://www.benzinga.com/topic/mexico" rel="noreferrer noopener">the country's economy</a>.
What Happened? The SHCP plans to raise the special tax on mining profits from 7.5% to 8.5% and the extraordinary tax on revenues from the sale of gold, silver, and platinum from 0.5% to 1%. The Ministry justifies the hike by citing rising global metal prices and the nature of those assets.
"Considering that minerals and substances from the subsoil are non-renewable public domain assets, it is proposed to increase the special and extraordinary rights on mining," the SHCP stated in the bill <a target="_blank" href="https://www.bnamericas.com/en/news/mexican-govt-proposes-raising-taxes-on-mining-companies" rel="noreferrer noopener">per</a> bnamericas. The Ministry projects that the additional revenues will be allocated to government programs and projects, though specific details were not disclosed.
In 2021, an International Monetary Fund<a target="_blank" href="https://www.imf.org/-/media/Files/Publications/WP/2021/English/wpiea2021245-print-pdf.ashx" rel="noreferrer noopener"> working paper</a> by Alpha Shah explored Mexico's mining tax regime, concluding it was less burdensome than in many comparable nations. Shah's findings pointed out that there is room to increase the overall tax burden on mining while still maintaining competitiveness. The paper suggested a balanced redesign to boost the government's share of resource rents while ensuring the sector remains an attractive investment destination.
Why It Matters? Mining is important to Mexico's economy, contributing 2.5% to GDP and supporting 400,000 direct jobs. The country is the world's leading silver producer and a major supplier of gold and copper. However, with increasing global competition, Mexico could struggle to attract new investments under a higher tax regime.
The country needs significant investment to bolster its mining sector, which has already seen declining fiscal contributions. These contributions fell 32% in 2023, further underlining the need for a balanced approach to taxation. Furthermore, bnamericas noted that industry experts warned the proposed increases could discourage nearly $7 billion in mining investments by 2025, particularly as companies face other challenges, such as reduced concession terms and stricter water-use permits.
While the proposed taxes aim to capture more value from the mining sector, they may also reduce Mexico's appeal compared to peers like Chile, Peru, and Canada. These countries offer competitive tax regimes and have become increasingly attractive destinations for mining investment.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42084529/bhp-unveils-14-billion-capex-for-chilean-copper-operations" target="_blank" rel="noreferrer noopener">BHP Unveils $14 Billion Capex For Chilean Copper Operations</a></li>
</ul>
Photo via Shutterstock

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MEXX

Mexico's Increased Mining Royalties Could Deter $7 Billion In Foreign Investments

Financial giants have made a conspicuous bullish move on Rio Tinto. Our analysis of options history for Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) revealed 9 unusual trades.
Delving into the details, we found 55% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $281,808, and 3 were calls, valued at $141,460.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $55.0 and $70.0 for Rio Tinto, spanning the last three months.
<h3>Volume &amp; Open Interest Trends</h3>
In today's trading context, the average open interest for options of Rio Tinto stands at 486.11, with a total volume reaching 963.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Rio Tinto, situated within the strike price corridor from $55.0 to $70.0, throughout the last 30 days.
<h3>Rio Tinto Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1731955527_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>RIO</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$4.2</td>
<td>$1.5</td>
<td>$4.0</td>
<td>$55.00</td>
<td>$103.6K</td>
<td>950</td>
<td align="right">259</td>
</tr>
<tr>
<td>RIO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/15/27</td>
<td>$5.3</td>
<td>$4.9</td>
<td>$4.9</td>
<td>$70.00</td>
<td>$87.2K</td>
<td>89</td>
<td align="right">178</td>
</tr>
<tr>
<td>RIO</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$2.55</td>
<td>$2.4</td>
<td>$2.4</td>
<td>$55.00</td>
<td>$42.7K</td>
<td>59</td>
<td align="right">178</td>
</tr>
<tr>
<td>RIO</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$8.3</td>
<td>$8.1</td>
<td>$8.18</td>
<td>$70.00</td>
<td>$40.9K</td>
<td>2.0K</td>
<td align="right">50</td>
</tr>
<tr>
<td>RIO</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$4.6</td>
<td>$4.5</td>
<td>$4.6</td>
<td>$62.50</td>
<td>$38.1K</td>
<td>202</td>
<td align="right">109</td>
</tr>
</tbody>
</table>

<h3>About Rio Tinto</h3>
Rio Tinto is a global diversified miner. Iron ore is the dominant commodity, with significantly lesser contributions from copper, aluminum, diamonds, gold, and industrial minerals. The 1995 merger of RTZ and CRA, via a dual-listed structure, created the present-day company. The two operate as a single business entity, with shareholders in each company having equivalent economic and voting rights. Major assets included the Pilbara iron ore operations, a 30% stake in the Escondida copper mine, 66%-ownership of the Oyu Tolgoi copper mine in Mongolia, the Weipa and Gove bauxite mines in Australia, and six hydro-powered aluminum smelters in Canada.
After a thorough review of the options trading surrounding Rio Tinto, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Where Is Rio Tinto Standing Right Now?</h3>
<ul>
<li>Currently trading with a volume of 1,323,138, the RIO's price is up by 1.74%, now at $62.04. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 93 days.</li>
</ul>
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Options

Markets

Rio Tinto's Options Frenzy: What You Need to Know

Iron ore prices could remain subdued in the near future. Citi analysts see them hovering around $85 per ton by 2026, owing to incremental new supplies, rising inventories, and <a href="https://www.benzinga.com/topic/china">weak Chinese demand</a>.
&#8220;Not only has China's recent stimulus package fallen short of investor expectations, but the weekend's fresh disappointments from the inflation report and FDI data have also reinforced the view that China is still far from stabilizing its beleaguered economy,&#8221; said Hebe Chen, market analyst at IG, <a href="https://www.news.com.au/finance/business/mining/economic-tsunami-threatening-to-overwhelm-australia-after-donald-trumps-election-win/news-story/902d416fb5180b09ef457716eb39e6a7">per</a> News.com.au.
The property sector remains a significant drag on demand, with real estate investments falling by 10.1% year-on-year and new construction starts contracting by 22.2% over the same period. These challenges, coupled with growing iron ore inventories at Chinese ports — up 31% this year to nearly 150 million tons — paint the impact of a supply-demand imbalance pressuring prices. In 2025, BMI research sees iron ore averaging $100 per ton.
Geopolitical factors weigh the sentiment as Donald Trump's upcoming second term raises trade tensions. Analysts warn that rekindled tariffs could further dampen Chinese steel demand, creating additional headwinds for iron ore.
Read Next: EXCLUSIVE: <a href="https://www.benzinga.com/markets/commodities/24/11/41969513/exclusive-critical-metals-corp-advances-wolfsberg-lithium-project-unveiles-new-drilling-approval-and-saudi-plant-plans">Critical Metals Corp Advances Wolfsberg Lithium Project, Unveils New Drilling Approval and Saudi Plant Plans</a>
Finding itself between a rock and a hard place, as an important U.S. ally whose largest trading partner is China, uncertainty is pressuring the Australian mining sector. BHP Group Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) stock is down 20% year-to-date despite a strong recovery in September, as the market showed limited confidence in Beijing's ability to address those issues effectively.
Still, major iron ore producers, including BHP, Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>), Vale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>), and Fortescue (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FSUMF#OTC">FSUMF</a>), have maintained strong production levels. 
BHP achieved a record output of 260 million tons in the fiscal year ending June 2024, with guidance of 255 to 265 million tons for 2025. Rio Tinto shipped 332 million tons in 2023, projecting <a href="https://www.benzinga.com/news/earnings/24/10/41353474/rio-tinto-disappoints-on-q3-production-sets-positive-tone-about-organic-growth">323 to 338 million</a> tons in 2024. Vale increased its guidance to 323–330 million tons for 2024, while Fortescue shipped 191.6 million tons in the 2024 fiscal year and expects similar levels this year.
Simandou, the long-delayed <a href="https://www.benzinga.com/news/24/01/36544368/mining-milestone-rio-tinto-to-launch-worlds-largest-project-in-guineas-simandou-mountains">Guinean iron ore project</a>, is also expected to come online soon, adding significant new supply. Furthermore, global trends toward low-carbon steel production are reducing demand for high-grade iron ore, particularly in regions like the EU, where initiatives such as the Carbon Border Adjustment Mechanism are accelerating the shift to greener methods.
Read Next: • <a href="https://www.benzinga.com/24/11/42011906/exxon-mobil-set-to-cut-400-texas-jobs-after-pioneer-deal">Exxon Mobil To Cut 400 Texas Jobs In Stages Through 2026</a>
Photo: BJP7Images via Shutterstock

FSUMF

VALE

Analysts See Iron Ore Below $100, Weak Chinese Demand

A new 13F filing from Viking Fund Management reveals which companies the fund bought and sold in the third quarter, including exiting some oil companies ahead of the 2024 election.
Third Quarter Exits: Viking Fund Management sold out of eight stocks completely in the third quarter, including positions in some of the largest oil companies.
Here are the positions exited, as <a href="https://13f.info/13f/000116906924000080/compare/000116906924000006">reported </a>by 13finfo:
<ul>
<li>Marathon Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>)</li>
<li>Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>)</li>
<li>SM Energy Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SM#NYSE">SM</a>)</li>
<li>Southern Copper Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>)</li>
<li>Sociedad Quimica y Minera (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>)</li>
<li>Murphy USA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUSA#NYSE">MUSA</a>)</li>
<li>Sanofi SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NYSE">SNY</a>)</li>
<li>Cactus Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHD#NYSE">WHD</a>)</li>
</ul>
Third Quarter New Positions: The following were the new stocks added to the fund in the third quarter, ranked in size by the dollar value at the end of the quarter.
<ul>
<li>Kodiak Gas Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGS#NYSE">KGS</a>)</li>
<li>EQT Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>)</li>
<li>HF Sinclair Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DINO#NYSE">DINO</a>)</li>
<li>Weatherford International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WFRD#NASDAQ">WFRD</a>)</li>
<li>NRG Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>)</li>
<li>Vertiv Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>)</li>
<li>Chart Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GTLS#NYSE">GTLS</a>)</li>
<li>Vistra Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>)</li>
<li>United Microelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>)</li>
<li>Eversource Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ES#NYSE">ES</a>)</li>
<li>Portland General Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/POR#NYSE">POR</a>)</li>
<li>Restaurant Brands International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>)</li>
<li>Nutrien (NTR.TO – Canada)</li>
</ul>
 Big Moves: The fund made several changes to its existing positions alongside the new positions and exited positions.
Here are the biggest additions in the quarter to existing stakes:
<ul>
<li>Civitas Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIVI#NYSE">CIVI</a>): +16,900%</li>
<li>Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>): +882%</li>
<li>LyondellBassell Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYB#NYSE">LYB</a>): +400%</li>
<li>Rio Tinto PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>): +386%</li>
<li>Dow Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>): +200%</li>
</ul>
Here are the biggest position cuts during the quarter to existing stakes:
<ul>
<li>Texas Pacific Land (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>): -60%</li>
<li>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>): -50%</li>
<li>Haliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>): -40%</li>
<li>ExxonMobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>): -36%</li>
<li>Ovintiv (OVV.TO – Canada): -33%</li>
</ul>
Why It's Important: At the end of the quarter, these are the fund's largest positions ranked by dollar value and the percentage they make up of the fund:
<ul>
<li>Broadcom: $27.96 million, 4.5%</li>
<li>AbbVie Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>): $24.88 million, 4.0%</li>
<li>NextEra Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>): $22.65 million, 3.7%</li>
<li>Entergy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETR#NYSE">ETR</a>): $16.27 million, 2.6%</li>
<li>BlackRock Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>): $14.24 million, 2.3%</li>
</ul>
The fund added significantly to its position in Broadcom, which remains the largest holding.
The quarter saw the sale of several oil stocks, but the fund opened new positions in several energy names in the quarter.
Photo: Shutterstock

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Viking Fund Management Sells Big Oil Stocks In Q3, Cuts Tesla Position In Half, Adds To Largest Position Broadcom

Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) has surged over 40% in the past month, 266% YTD, propelled by a <a href="https://www.benzinga.com/news/24/08/40250122/microsoft-palantir-shares-rise-as-tech-titans-ink-deal-to-deploy-ai-tools-for-us-government-agencies">series of high-profile partnerships</a> with industry giants like Microsoft Corp, Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and Rio Tinto PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>).
The data analytics and AI powerhouse has set a new 52-week high at $63.39, with investors riding the wave of excitement as Palantir&#8217;s collaborations continue to expand its footprint across the mining, defense, and cloud computing sectors.
But with a staggering 300x earnings valuation, Wall Street analysts remain cautious, warning of a potential <a href="https://www.benzinga.com/quote/PLTR/analyst-ratings">37%</a> downside, with a price target around $38.67.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/11/41891026/palantir-overtakes-lockheed-martin-in-market-cap-how-does-the-messi-of-ai-stack-up-against-the-traditional-defense-player">Palantir Overtakes Lockheed Martin In Market Cap, How Does The &#8216;Messi Of AI&#8217; Stack Up Against The Traditional Defense Player</a>
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent111424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="628" height="456" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14054254/Screenshot-2024-11-14-at-4.12.29-PM.png" alt="" class="wp-image-647581" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14054254/Screenshot-2024-11-14-at-4.12.29-PM.png 628w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14054254/Screenshot-2024-11-14-at-4.12.29-PM-300x218.png 300w" sizes="(max-width: 628px) 100vw, 628px" /></a></figure>
<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent111424&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
The latest rally, though impressive, has led PLTR stock into overbought territory, with an RSI of 84.62 signaling potential for a pullback.
<h2 class="wp-block-heading">Powerhouse Partnerships Are Fueling Growth</h2>
PLTR stock&#8217;s 40% surge the past month isn't just momentum—it's backed by strategic partnerships. Last week, Palantir renewed its <a href="https://www.benzinga.com/24/11/41936392/whats-going-on-with-palantir-stock-after-renewing-collaboration-with-rio-tinto">multi-year deal with Rio Tinto,</a> extending the mining giant's access to its Artificial Intelligence Platform (AIP) for another four years.
This adds to Palantir's arsenal of strategic alliances, including collaborations with Microsoft and Amazon, where Palantir&#8217;s AI tools are being integrated into Microsoft's Azure for U.S. defense needs and Amazon Web Services for government AI applications.
<h2 class="wp-block-heading">PLTR Stock Chart Strongly Bullish, But Valuation Is Lofty</h2>
Meanwhile, PLTR stock is on fire, trading well above its key moving averages, which keeps the bulls in play. Yet, with a P/E ratio around 300x, analysts are questioning the sustainability of this AI-fueled growth.
Investors might want to enjoy the ride but keep their eyes on the potential for a pullback as Palantir's next moves unfold.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/11/41964178/jim-cramer-says-these-10-frothy-stocks-are-up-over-200-ytd-including-rocket-lab-palantir-and-carvana-heres-what-he-suggests-investors-can-do-for-terrific-long-term-returns">Jim Cramer Says These 10 &#8216;Frothy&#8217; Stocks Are Up Over 200% YTD, Including Rocket Lab, Palantir, And Carvana: Here&#8217;s What He Suggests Investors Can Do For &#8216;Terrific&#8217; Long-Term Returns</a></li>
</ul>
Photo: Shutterstock

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Can Palantir Sustain Its 300X Valuation After Climbing 266% This Year?

The new solar plant will be located next to Kennecott's existing 5MW solar plant, which was completed in 2023. Together, the two solar plants will reduce Kennecott's Scope 2 emissions by approximately 6%, or 21,000 tons of carbon dioxide equivalent per year. This is equivalent to removing around 5,000 gas-powered passenger cars from the road.
Construction of the 25MW solar plant is expected to be completed next year and create short-term employment opportunities for up to 100 laborers, as well as a small number of long-term operations and maintenance roles. Bechtel Corporation will design and manage construction of the plant.
Kennecott, which already has one of the lowest carbon footprints of any copper producer in the U.S., has reduced its carbon footprint more than 80% since 2018 through initiatives such as closing its coal-powered power plant, building a 5MW solar farm, transitioning the mining fleet to renewable diesel, and using battery electric vehicles in underground mining.
Rio Tinto Kennecott Managing Director Nate Foster said: "Expanding our solar farm is the latest step in our journey to reduce our carbon footprint. Together with other measures we've taken, such as closing a coal-fired power plant, deploying battery electric vehicles underground, and our recent transition to renewable diesel, we have reduced our emissions by millions of tons over the past few years.

Rio Tinto Has Approved Construction Of A New 25-Megawatt Solar Plant At Its Kennecott Copper Operation In Utah, Bringing The Mine's Total Solar Capacity To 30MW

Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) shares are trading relatively flat in the <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">premarket session on Wednesday.</a>
The company announced today that it renewed its multi-year enterprise agreement with the mining giant Rio Tinto Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>), extending the partnership <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b41933059/palantir-and-rio-tinto-renew-enterprise-contract-and-extend-access-to-palantirs-ai-platform" rel="noreferrer noopener">for an additional four years</a>.
This agreement ensures Rio Tinto&#8217;s continued access to Palantir&#8217;s Artificial Intelligence Platform (AIP), further enhancing the company&#8217;s operational efficiency and AI capabilities.
As an early adopter of Palantir Foundry, Rio Tinto has already built a robust digital twin, or &#8220;Ontology,&#8221; which serves as a unified data model for critical operations.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/11/41891026/palantir-overtakes-lockheed-martin-in-market-cap-how-does-the-messi-of-ai-stack-up-against-the-traditional-defense-player" rel="noreferrer noopener">Palantir Overtakes Lockheed Martin In Market Cap, How Does The &#8216;Messi Of AI&#8217; Stack Up Against The Traditional Defense Player</a>
The Ontology enables Rio Tinto to leverage AIP to rapidly develop, test, and deploy AI-driven solutions, addressing challenges in areas like plant operations, geotechnical risk management, and the coordination of unmanned trains.
&#8220;The Foundry Ontology has made our structured data accessible, and AIP is doing the same for our unstructured data while enabling us to attack with pace problems previously deemed too complex,&#8221;&nbsp;said Bold Bataar, Rio Tinto&#8217;s Chief Commercial Officer.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, RIO stock has lost over 6% in the past year. Investors can gain exposure to the stock via&nbsp;VanEck Steel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLX#NYSE">SLX</a>) and&nbsp;Gabelli ETFs Trust Gabelli Financial Services Opportunities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GABF#NYSE">GABF</a>) and VanEck Natural Resources ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAP#NYSE">HAP</a>).
For instance, in Western Australia&#8217;s Pilbara region, Foundry integrates real-time data from hundreds of systems, allowing operators to optimize the routing of 53 driverless trains transporting iron ore. This has led to improved safety and throughput on the rail network.
Meanwhile, in Mongolia&#8217;s Oyu Tolgoi mine, the Ontology provides dynamic risk management for one of the world&#8217;s most challenging mining environments.
Palantir&#8217;s AIP will enhance Rio Tinto&#8217;s ability to manage complex workflows and accelerate innovation across its operations. Both companies expect the AI platform to drive continued improvements in performance, safety, and decision-making in Rio Tinto&#8217;s high-stakes environments.
Ted Mabrey, Palantir&#8217;s Head of Commercial, highlighted the potential of AIP to address Rio Tinto&#8217;s most pressing challenges, including risk identification and asset management, ensuring safe and efficient AI deployment.
PLTR stock has gained over 200% in the past year. Investors can gain exposure to the stock via REX AI Equity Premium Income ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIPI#NASDAQ">AIPI</a>) and Global X Funds Global X Defense Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHLD#NYSE">SHLD</a>).
Price Action: PLTR shares are trading higher by 1.02% to $60.46 premarket at last check Wednesday, whie RIO shares are trading lower by 0.46% to $60.92.
Image via Shutterstock
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What's Going On With Palantir Stock After Renewing Collaboration With Rio Tinto?

Palantir Technologies Renewed Its Multi-year Enterprise Agreement With The Rio Tinto Group For An Additional 4 Years And Secures Rio Tinto's Ongoing Access To The Palantir Artificial Intelligence Platform

Shares of base metal stocks are trading lower. Weakness may be due to China stimulus efforts.

Rio Tinto has completed the transition from conventional to renewable diesel for all heavy mining equipment at its Kennecott copper mine in Utah, giving the mine one of the lowest carbon footprints of any copper producer in the United States.
Kennecott's fleet of 97 haul trucks and heavy machinery equipment at the mine, concentrator, smelter, refinery and tailings are now all fueled by renewable diesel1 sourced in the United States. This is expected to reduce the mine's Scope 1 emissions by 450,000 tonnes, equal to eliminating the annual emissions of 107,000 cars. In addition, the switch to renewable diesel reduces PM2.5 (particulate matter less than 2.5 microns) emissions at the tailpipes of our haul truck fleet by 40%, a reduction equivalent to approximately 2.3 billion miles of light vehicle travel annually.
Kennecott has one of the lowest carbon footprints of any copper producer in the United States, thanks to recent initiatives such as the closure of a coal-fired power plant, installation of a 5-megawatt solar farm, deployment of battery electric vehicles underground, and the transition to renewable diesel. The operation's overall carbon footprint has now been reduced by more than 80% from 2018 levels.

Rio Tinto Has Completed The Transition From Conventional To Renewable Diesel For All Heavy Mining Equipment At Its Kennecott Copper Mine In Utah

<ul>
<li>McEwen Copper previously announced a non-brokered private placement financing of up to&nbsp;2,333,333&nbsp;common shares&nbsp;at a subscription price of&nbsp;US$30.00&nbsp;per common share, for gross proceeds of up to&nbsp;US$70 million&nbsp;(the "Offering"). The first tranche of the Offering was led by a $14 million investment by McEwen Mining and a $5 million investment by Rob McEwen.</li>
<li>In this second tranche of the Offering, Nuton (a Rio Tinto Venture) has purchased an additional 1,166,666 common shares of McEwen Copper for $35 million and two other investors have acquired 66,669 common shares for $2 million. Following the closing of this second tranche of the Offering, McEwen Copper has raised a total of $56 million.</li>
<li>Nuton now owns 17.2% of McEwen Copper on a fully diluted basis. Following these share issuances, McEwen Copper will have 32,804,284 common shares outstanding, giving it a post-money market value of $984 million, and its shareholders are: McEwen Mining Inc. 46.4%, Stellantis 18.3%, Nuton 17.2%, Rob McEwen 12.7%, Victor Smorgon Group 3.0%, and other shareholders 2.0%.</li>
<li>Proceeds from the Offering will be used to advance ongoing work on the feasibility study for the Los Azules copper project, which is scheduled for publication in the first half of 2025.</li>
</ul>

Financing

McEwen Copper Inc., A Subsidiary Of McEwen Mining Announced The Closing Of An Additional $35M Investment By Nuton, A Rio Tinto Venture

In a recent study, researchers have suggested that Arkansas could potentially hold a significant amount of lithium, a crucial component for electric car batteries and other high-tech products.
What Happened: The researchers, in a study published in the journal Science Advances, have estimated that there could be between 5.1 to 19 million tons of lithium in the Smackover Formation brines in southern Arkansas, <a href="https://thehill.com/policy/energy-environment/4945872-arkansas-19-million-tons-lithium-battery-power/">reported</a> The Hill. This amount could potentially make up 35 to 136% of the current U.S. lithium resource estimate.
The researchers used a machine-learning model trained on published and newly collected brine lithium concentration data to create a map of predicted lithium concentrations in Smackover Formation brines across southern Arkansas.
Lithium ETFs offer a way to diversify your investments across multiple companies poised to benefit from the growing demand for lithium. 
Some of the top lithium ETFs to consider include the Global X Lithium &amp; Battery Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LIT#NYSE">LIT</a>), Amplify Lithium and Battery Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BATT#NYSE">BATT</a>), First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQGM:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQGM">QCLN</a>), iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>), and the VanEck Vectors Rare Earth/Strategic Metals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REMX#NYSE">REMX</a>).
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41422633/investors-lost-over-95-of-their-wealth-in-this-nvidia-linked-etf-while-jensen-huang-led-chip-gia?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Investors Lost Over 95% Of Their Wealth In This Nvidia-Linked ETF While Jensen Huang-Led Chip Giant Gained 220% In The Past Year: Here&#8217;s More</a>
Why It Matters: Automakers and tech companies are scrambling to <a href="https://www.benzinga.com/markets/equities/24/10/41360023/lithium-americas-shares-surge-as-gm-commits-625m-to-thacker-pass-project">secure their lithium supplies</a>, with some even investing in mining projects, such as General Motors&#8216; joint venture with Lithium Americas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAC#NYSE">LAC</a>) for the Thacker Pass lithium project in Nevada.
Meanwhile, in Europe, the Serbian parliament&#8217;s decision <a href="https://www.benzinga.com/government/24/10/41289306/serbian-parliament-doesnt-pass-lithium-ban-keeps-rio-tintos-major-project-alive">not to ban lithium exploration and exploitation</a> has kept Rio Tinto&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) major Jadar project alive. 
In January, Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) revealed its <a href="https://www.benzinga.com/top-stories/24/02/37188987/interesting-elon-musk-captivated-by-microsofts-70-lithium-reduced-battery-innovation">collaboration with a U.S. national laboratory</a> to create an innovative battery material that decreases lithium consumption by 70%, attracting interest from Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk.
Moreover, in July 2022 Musk tweeted that &#8220;lithium batteries are the new oil,&#8221; responding to Craft Ventures co-founder David Sacks&#8216; comments about the importance of <a href="https://www.benzinga.com/trading-ideas/movers/22/07/28056987/elon-musk-says-this-battery-metal-is-the-new-oil-but-should-the-vehicle-connoisseur-take-his">energy independence amid oil challenges</a> from Russia&#8217;s invasion of Ukraine. 
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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Arkansas May Be Sitting On 19M Tons Of Lithium Amid Rising Demand For EV Batteries: How To Invest In What Elon Musk Calls 'The New Oil'

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