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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Nvidia lidera las apuestas finales de CNBC. Cisco, Rio Tinto y Chipotle también destacan antes de sus próximos movimientos clave.

CNBC Halftime Report: Nvidia, Cisco, Rio Tinto y Chipotle entre las apuestas clave antes de los resultados

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EE.UU. podría imponer aranceles del 25 % al cobre: Impacto en el mercado global y productores

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Startups de litio innovan para enfrentar la creciente demanda global

Aluminerie Alouette, Canada's largest aluminum smelter and a key supplier to the U.S. market, announced a CA$1.5 billion ($1.1 billion) investment in its northern Québec facilities. The firm, owned by a Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>)-led consortium, is making this commitment despite growing pressure from <a href="https://www.benzinga.com/topic/tariffs">U.S. tariffs</a> and global trade uncertainty.
"Today's announcement, which we have been working on for several months, paves the way for the coming decades for our current and future employees, our communities and our business partners," <a href="https://www.alouette.com/en/media/press-releases?id=3201&amp;pg=0">said</a> Claude Gosselin, President and CEO of Aluminerie Alouette.
"We sincerely appreciate the collaboration of the Quebec government and Hydro-Québec for their unwavering confidence in the essential role that primary aluminum plays in the economic vitality of both our region and the province," he added.
The investment follows a newly signed long-term power agreement with Hydro-Québec that will guarantee electricity supply through 2045. With an annual capacity of 630,000 metric tons, the Sept-Îles facility is critical to North American aluminum supply chains.
Owned by a consortium that includes Rio Tinto (40%), Hydro Aluminium (20%), AMAG Austria Metall (20%), Marubeni (13.33%), and QUALIUM (6.67%), Aluminerie Alouette employs around 950 people and represents the largest private employer in the region.
Aluminum produced in Québec is particularly important to the United States, which has only four operating primary aluminum smelters, which are insufficient for domestic needs. Canada supplies approximately 2.7 million metric tons of aluminum to the U.S. annually, supporting sectors from automotive and aerospace to food packaging. The U.S., however, has threatened tariffs of up to 50% on Canadian aluminum, a move widely criticized as counterproductive.
"The United States needs Quebec to meet its demand, especially since we produce 70% of all aluminum in North America," Quebec's Economy Minister Christine Frechette said, according<a href="https://www.bloomberg.com/news/articles/2025-07-02/rio-tinto-backed-aluminum-firm-to-invest-1-1-billion-in-canada-smelter"> to</a> Bloomberg. Still, with U.S. tariffs pushing Canadian aluminum out of the market, American manufacturers face <a href="https://www.benzinga.com/25/03/44338152/can-manufacturers-warn-about-tariffs-ask-for-targeted-relief">rising costs for essential goods</a>, while Canada&#8217;s producers look to Europe for alternative buyers.
The Canadian aluminum industry has taken steps to protect its market integrity, including supporting Finance Canada&#8217;s new import monitoring system and the "Country of Smelt and Cast" provisions designed to block unfair trade. Jean Simard, President of the Aluminium Association of Canada, <a href="https://www.benzinga.com/markets/commodities/25/06/45766967/us-aluminum-tariffs-risk-supply-chain-and-food-security-industry-insiders-warn">noted</a> that Canadian aluminum "is not—and will not be—a backdoor for unfair trade," pointing to Canada's leadership in traceability and sustainability.
Read Next: <a href="https://www.benzinga.com/markets/commodities/25/07/46206146/hsbc-lifts-gold-forecast-sees-a-volatile-path-ahead">HSBC Lifts Gold Forecast, Sees A Volatile Path Ahead</a>

Financing

Aluminerie Alouette to Invest $1.1 Billion in Major Canadian Aluminum Revamp

Chile's Congress has passed a long-awaited mining regulation reform to cut permitting times drastically. The reform is expected to boost investor confidence in the world's top copper producer and <a target="_blank" href="https://www.benzinga.com/topic/lithium" rel="noreferrer noopener">second-largest lithium supplier</a>.
The legislation, passed with 93 votes in favor, 27 against, and 17 abstentions, amends over 40 sectoral laws and now awaits President Gabriel Boric's signature to become law.
"This will allow us to substantially reduce permitting times while maintaining our regulatory rigour," Economy Minister Nicolás Grau said after the vote, according <a target="_blank" href="https://www.reuters.com/world/americas/chiles-congress-approves-law-speed-up-permitting-process-investment-projects-2025-07-01/" rel="noreferrer noopener">to</a> Reuters.
The reform is expected to reduce permitting timelines by 30% to 70%, addressing long-standing complaints from the mining and renewable energy industries that permitting delays stifle billions of dollars in investment.
Before the reform, major mining projects often waited more than a decade for approval. For example, the average permit process in Chile can last up to 12 years, one of the longest globally.
The new legislation institutionalizes a digital one-stop permitting platform, "SUPER," which allows end-to-end case tracking and service interoperability. It also establishes a new coordinating body, the Sectoral Authorizations and Investment Office, to modernize permitting procedures.
Despite the breakthrough, challenges remain. Jorge Riesco, president of Chile's National Mining Society (<a target="_blank" href="https://www.sonami.cl/v2/noticias/presidente-de-sonami-por-aprobacion-de-ley-marco-de-permisos-sectoriales-valoramos-el-esfuerzo-del-ejecutivo/" rel="noreferrer noopener">SONAMI</a>), called the reform "a step in the right direction" but stressed that "more work is needed" to modernize Chile's permitting framework fully.
When Gabriel Boric assumed the presidency in 2022, he pledged to bolster environmental protections and reverse the deregulation trends set by his predecessor, Sebastián Piñera.
A <a target="_blank" href="https://www.icij.org/investigations/pandora-papers/chile-rejects-dominga-mining-project-a-longtime-flashpoint-for-environmental-and-political-controversy/" rel="noreferrer noopener">key scandal</a> related to Piñera's sale of his stake in the controversial Dominga project—reportedly contingent on regulatory favors—had a significant impact on the public debate regarding mining oversight. Boric ran on a platform critical of unchecked extractivism, and while he opposes projects like the Dominga, his government is not anti-mining.
To balance environmental protection and growth, Boric introduced the "<a target="_blank" href="https://www.sea.gob.cl/en/noticias/presidente-de-la-republica-gabriel-boric-presenta-dos-proyectos-de-ley-para-mejorar-la" rel="noreferrer noopener">Environmental Evaluation 2.0</a>" plan—a separate but complementary reform to streamline environmental assessments. The proposal has stirred up criticism from both sides of the aisle. Industry groups argue that it gives courts too much power to delay projects, while environmental NGOs insist it caters to big economic interests.&nbsp;
Environmental issues remain a significant challenge. In 2022, BHP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>) was fined $8.2 million for over-extracting water in the sensitive Atacama region, which is home to the massive Escondida copper mine.
To address this, innovation in extraction methods—especially those related to lithium—is gaining attention. Technologies like Direct Lithium Extraction are being promoted to reduce water consumption and environmental degradation.&nbsp;
According to Chile's Constituent Assembly's 2022 decision, Boric is ineligible to run for reelection in 2026. Still, the policies launched during his term will direct the development of one of the key mining countries in the ongoing commodity cycle.
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Chile Cuts Up To 70% Of Red Tape, Promises Streamlined Mining Approvals

<a href="https://www.bloomberg.com/news/articles/2025-07-02/rio-tinto-backed-aluminum-firm-to-invest-1-1-billion-in-canada-smelter" title="https://www.bloomberg.com/news/articles/2025-07-02/rio-tinto-backed-aluminum-firm-to-invest-1-1-billion-in-canada-smelter">https://www.bloomberg.com/news/articles/2025-07-02/rio-tinto-backed-aluminum-firm-to-invest-1-1-billion-in-canada-smelter</a>

Global

'Rio Tinto-Backed Aluminum Firm to Invest $1.1 Billion in Canada Project' - Bloomberg News

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer said Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) has a big yield and recommended buying the stock. &#8220;I believe in the minerals. I think you're fine,&#8221; he added.
As per the recent news, Rio Tinto and Hancock Prospecting announced on June 24 a joint investment of $1.61 billion to develop the Hope Downs 2 iron ore project in Western Australia&#8217;s Pilbara region. A 50-50 investment will drive a significant expansion of the long-standing Hope Downs Joint Venture between the two companies.
Cramer said TG Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TGTX#NASDAQ">TGTX</a>) is a buy.
Supporting his view, the company, on May 5, reported first-quarter sales of $120.86 million, up from $63.47 million a year ago, beating the consensus of $118.43 million.
Michael S. Weiss, TG Therapeutics Chairman and Chief Executive Officer, stated, "2025 is off to a strong start, and I'm incredibly proud of the progress made thus far. Our performance in the first quarter, including BRIUMVI's $119.7 million in U.S. net sales, demonstrates the growing confidence in our treatment and the increasing adoption by healthcare providers.&#8221;
&#8220;This momentum, combined with the positive feedback we're hearing from both patients and clinicians, reinforces our belief that we can achieve our long-term goal of BRIUMVI becoming the number one prescribed anti-CD20 treatment based on dynamic market share," he added.
Price Action:
<ul class="wp-block-list">
<li>Rio Tinto shares fell 0.7% to settle at $58.33 on Monday.</li>
<li>TG Therapeutics shares declined 2% to close at $35.99.</li>
</ul>
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TGTX

Cramer Backs This Mining Giant After $1.6B Bet

Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) and Hancock Prospecting have announced on Tuesday a joint investment of $1.61 billion to develop the Hope Downs 2 <a target="_blank" href="https://www.benzinga.com/topic/iron-ore" rel="noreferrer noopener">iron ore project</a> in Western Australia's Pilbara region. A 50-50 investment will drive a significant expansion of the long-standing Hope Downs Joint Venture between the two companies.
"Approval of Hope Downs 2 is a key milestone for Rio Tinto, as we invest in the next generation of iron ore mines in the Pilbara," Rio Tinto Iron Ore Chief Executive Simon Trott said in <a target="_blank" href="https://www.riotinto.com/en/news/releases/2025/rio-tinto-and-hancock-prospecting-to-invest-1-6-billion-to-develop-the-hope-downs-2-project-in-western-australias-pilbara" rel="noreferrer noopener">today's announcement</a>.
"These projects are part of our strategy to continue investing in Australian iron ore and to sustain Pilbara production for decades to come, supporting jobs, local businesses, and the state and national economies," he added.
Also Read: <a target="_blank" href="https://www.benzinga.com//node/45817251" rel="noreferrer noopener">Rio Tinto Opens $2B Pilbara Iron Ore Mine With China's Baowu</a>
The investment will fund the development of two new above-water-table iron ore pits at Hope Downs 2 and Bedded Hilltop. With a combined annual production capacity of 31 million tons, the new deposits will extend the life of the Hope Downs operations, which commenced in 2007. Ore from the new pits will be transported to the existing Hope Downs 1 processing facility. First ore is expected in 2027.
The project scope includes non-process infrastructure precincts, haul roads, rail crossings, and a realignment of a 6-kilometer stretch of the Great Northern Highway.
Rio Tinto's share in the $1.61 billion investment is part of a broader capital expenditure plan, with the miner intending to spend over $13 billion between 2025 and 2027 on new mines, equipment, and infrastructure.
"The Pilbara has been critical to global steel supply for more than 60 years, and we are committed to ensuring it remains so well into the future," Trott said.
Hope Downs 2 has secured all required State and Federal approvals. Rio Tinto has actively engaged with the Nyiyaparli, Banjima, and Ngarlawangga Peoples, as well as with government bodies, to manage heritage and environmental considerations.
The project is expected to create over 950 jobs during the construction phase and, once operational, approximately 1,000 full-time roles across the Greater Hope Downs complex.
Hope Downs 2 is part of Rio Tinto's broader plan to maintain a mid-term iron ore production capacity of 345 to 360 million tons per annum from its Pilbara operations. The company is also conducting a <a target="_blank" href="https://www.benzinga.com/news/management/25/05/45163353/rio-tinto-stops-activist-campaign-explores-critical-minerals-opportunities" rel="noreferrer noopener">pre-feasibility study</a> on the Rhodes Ridge project, one of the most promising undeveloped iron ore deposits in the region.
Still, according to the research firm BMI, the <a target="_blank" href="https://www.benzinga.com/25/03/44243837/iron-ore-production-to-accelerate-until-2030-study-says" rel="noreferrer noopener">long-term outlook</a> for iron ore is subdued. Prices are forecast to average $100 per ton in 2025 but are expected to decline to $78 per ton by 2034 gradually. While short-term demand from China remains resilient, BMI anticipates a structural shift in its economy toward less steel-intensive sectors and expects steady global supply growth to moderate prices over the next decade.
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</ul>
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Equities

Guidance

Rio Tinto, Hancock Invest $1.6 Billion In Hope Downs 2 Expansion

Rio Tinto Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) disclosed on Thursday that it has officially inaugurated its newest <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">iron ore mine, Western Range</a>.
The Western Range is one of several replacement projects, collectively boasting an annual capacity of approximately 130 million tonnes.
The mine is designed to produce up to 25 million tonnes of iron ore annually, and <a target="_blank" href="https://www.businesswire.com/news/home/20250605488902/en/Rio-Tinto-and-Baowu-open-Western-Range-iron-ore-mine-in-the-Pilbara-with-Yinhawangka-Traditional-Owners" rel="noreferrer noopener">it </a>has the potential to sustain the existing Paraburdoo mining hub for as long as two decades.
The $2 billion project, a joint venture between Rio Tinto (54%) and Baowu (46%), was finished on time and within budget.
Also Read: <a href="https://www.benzinga.com/news/legal/25/05/45640179/supreme-court-rejects-appeal-allows-rio-tinto-mine-to-proceed-on-tonto-forest-sacred-land" target="_blank" rel="noreferrer noopener">Supreme Court Rejects Appeal, Allows Rio Tinto Mine To Proceed On Tonto Forest Sacred Land</a>
This endeavor included constructing a primary crusher and an 18-kilometer conveyor system that connects to the existing Paraburdoo processing plant.
The new mine ensures stability for Paraburdoo&#8217;s workforce of over 880 residential and FIFO (fly-in/fly-out) employees.
The Western Range project is notable as Rio Tinto&#8217;s inaugural endeavor to incorporate a co-designed Social, Cultural and Heritage Management Plan (SCHMP) alongside the Yinhawangka Traditional Owners.
Rio Tinto Chief Executive Jakob Stausholm said, "Opening Western Range is an important step in Rio Tinto's extension plans in the Pilbara and ensures the longevity of one of our oldest mining hubs, Paraburdoo, which began operating in 1972.&#8221;
"Partnering with Baowu ensures our biggest customer directly benefits with a consistent, dedicated supply of Rio Tinto's world leading Pilbara Blend iron ore."
Notably, over the next three years (2025-2027), Rio Tinto anticipates investing more than $13 billion in new mines, plants, and equipment.
This follows an investment of approximately $8.5 billion in the Pilbara during the preceding three-year period (2022-2024).
In May, the company disclosed that Stausholm will step down from his role later this year and disclosed 2029 bauxite expansion in Queensland with a feasibility study for a 20 million tonne <a href="https://www.benzinga.com/25/05/45564513/rio-tinto-ceo-jakob-stausholm-to-step-down-launches-19b-bauxite-expansion-plan" target="_blank" rel="noreferrer noopener">boost to Weipa output</a>.
Price Action: RIO shares are down 0.57% at $58.89 at last check Friday.
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Photo: Shutterstock

Mid Cap

Rio Tinto Opens $2B Pilbara Iron Ore Mine With China's Baowu

<a href="https://www.reuters.com/sustainability/rio-tinto-revising-cost-serbia-lithium-project-2025-06-04/" title="https://www.reuters.com/sustainability/rio-tinto-revising-cost-serbia-lithium-project-2025-06-04/">https://www.reuters.com/sustainability/rio-tinto-revising-cost-serbia-lithium-project-2025-06-04/</a>

Reported Earlier: "Rio Tinto Revising Cost Of Serbia Lithium Project" - Reuters News

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul class="wp-block-list">
<li>Wolfe Research analyst Andy Chen downgraded the rating for Blueprint Medicines Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPMC#NASDAQ">BPMC</a>) from Outperform to Peer Perform. Blueprint Medicines shares closed at $127.79 on Monday. <a href="https://www.benzinga.com/quote/BPMC/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Jefferies analyst Chris LaFemina downgraded Rio Tinto Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) from Buy to Hold. Rio Tinto shares closed at $59.58 on Monday. <a href="https://www.benzinga.com/quote/RIO/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>JP Morgan analyst Cory Carpenter downgraded the rating for Bumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMBL#NASDAQ">BMBL</a>) from Neutral to Underweight and maintained the price target of $5. Bumble shares closed at $5.74 on Monday. <a href="https://www.benzinga.com/quote/BMBL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Barclays analyst Simon Coles downgraded ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) from Overweight to Equal-Weight. ASML shares closed at $746.53 on Monday. <a href="https://www.benzinga.com/quote/ASML/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>BMO Capital analyst Jackie Przybylowski downgraded the rating for MAC Copper Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTAL#NYSE">MTAL</a>) from Outperform to Market Perform but raised the price target from $11 to $12.25. MAC Copper shares closed at $12.24 on Monday. <a href="https://www.benzinga.com/quote/MTAL/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying ASML stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="588" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03091853/image-31-1024x588.png" alt="" class="wp-image-936720" style="width:666px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03091853/image-31-1024x588.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03091853/image-31-300x172.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03091853/image-31-768x441.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/03091853/image-31.png 1117w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Analyst Ratings

ASML

BMBL

BPMC

MTAL

This ASML Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Tuesday

U.S. stock futures were lower this morning, with the Dow futures falling around 100 points on Tuesday.
Shares of Rio Tinto Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) fell sharply in today's <a href="https://www.benzinga.com/quote/RIO">pre-market trading</a><a href="https://www.benzinga.com/quote/NYSE:RIO/news">.</a>
Jefferies analyst Chris LaFemina downgraded the rating for Rio Tinto from Buy to Hold.
Rio Tinto shares dipped 2.1% to $58.36 in the pre-market trading session.
Here are some other stocks moving lower in pre-market trading.
<ul class="wp-block-list">
<li>Bumble Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMBL#NYSE">BMBL</a>) shares dipped 5.8% to $5.41 in today's pre-market trading. JP Morgan analyst Cory Carpenter downgraded Bumble from Neutral to Underweight and maintained the price target of $5.</li>
<li>Mereo BioPharma Group plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MREO#NASDAQ">MREO</a>) declined 5.8% to $2.40 in pre-market trading. Mereo BioPharma, on May 13, posted a first-quarter GAAP loss of 2 cents per share.</li>
<li>Pearson plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSO#NYSE">PSO</a>) declined 5% to $15.24 in pre-market trading.</li>
<li>GCL Global Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GCL#NASDAQ">GCL</a>) shares declined 4.8% to $2.40 in pre-market trading.</li>
<li>Myers Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MYE#NYSE">MYE</a>) fell 3.9% to $11.96 in pre-market trading.</li>
<li>Okeanis Eco Tankers Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECO#NYSE">ECO</a>) fell 2.8% to $22.31 in pre-market trading.</li>
</ul>
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Pre-Market Outlook

Movers

MREO

Rio Tinto, Bumble And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

Jefferies analyst Chris LaFemina downgrades Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) from Buy to Hold.

Jefferies Downgrades Rio Tinto to Hold

Per-ounce gold prices are up $1,000 from a year ago, and defensive-minded investors can be forgiven for balking at the yellow metal's skyrocketing price.
Metals experts cite multiple reasons why gold prices are so high right now.&nbsp;
"If you step back, it's not surprising that we've seen gold surge by $1,000 per ounce over the past year," said Rana Vig, president and CEO of Blue Lagoon Resources Inc., a Vancouver-based mineral exploration company. "It's a textbook gold rally created by a perfect storm of macroeconomic and geopolitical factors."
Vig said the economy and markets have seen persistent inflation concerns, aggressive central bank buying (especially from countries seeking to reduce U.S. dollar exposure), and ongoing global instability. "Add to that falling confidence in fiat currencies and tariff instability, and you have an environment where gold speculation can thrive."
Given gold&#8217;s rapid rise, investors who wish to use metals as a powerful hedge against volatile markets have other options.
It's worth noting that gold prices aren't necessarily out of reach for precious metals investors.
"No doubt, the easy money in this cycle may have already been made," Vig noted. "As for new investors coming in now, the upside will be harder to find without taking on more risk."
One major upside of gold is that it's not just a speculative asset or a hedge for volatility. In many parts of the world, it's a way of life. 
"In countries like India, where gold is deeply woven into the cultural and economic fabric, it's not uncommon for entire villages to pool resources and buy gold by the gram," Vig added. "Even the poorest households will save in gold, not stocks, not bonds because it's tangible, trusted, and borderless."
That level of generational trust in gold continues to anchor demand globally. "For Western investors, there's something to learn from that mindset: Gold isn't just about price, it's about preservation," Vig noted. "It's about holding something real when everything else feels uncertain."
<h2 class="wp-block-heading">Non-Physical Gold Portfolio Options</h2>
Experts say that if current per-ounce gold prices at $3,300 are too high, investors have formidable "Plan B" options in the precious metals market. These metal plays may be your best bets.
<h3 class="wp-block-heading">Silver</h3>
Silver&#8217;s price is expected to rise to $40 an ounce within the next six to twelve months, about a 20% increase from current levels.
"This is similar to the projection for gold, and silver and gold tend to move in tandem with each other," said Brett Elliott, marketing director at American Precious Metals Exchange in Urbandale, Iowa. "Silver has a constrained supply, large industrial buyers who will pay virtually any amount to get the silver they need, and growing demand from various sectors."
Additionally, silver rallies tend to follow gold rallies, and gold has been rallying frequently this year. "Just like gold, silver is highly liquid and can be bought and sold in physical form, through ETFs, or through digital silver apps where the metal is vaulted but owned by you," Elliot noted.
Another factor favoring silver is supply and demand.&nbsp;
"There's a huge silver shortage in the world due to a lack of silver mines, and the demand for silver will continue to be high due to its usage in electric vehicles, electric vertical take-off and landing vehicles, and other electrical appliances," said Sankar Sharma, investing analyst and founder of RiskRewardReturn.com, mentioning iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>). "The best and easiest way to invest in silver is via the iShares Silver Trust, which is trading at an attractive $29.99 entry price as of May 30."
<h3 class="wp-block-heading">Copper</h3>
Copper is another robust metal contender for defense-oriented investors. "It's essential electrification, whether it&#8217;s electric vehicles, grid infrastructure, or renewable power," Vig said. "And while copper's global demand is expected to outpace supply over the next decade, its market price, in many ways, still hasn't caught up relative to its fundamental story."
Geography also matters with copper.
"Copper is an excellent base metal to get into as electric utility needs for third world countries are only going to increase over the next 10 to 20 years," said Robert Kientz, operations lead at Kinesis Bullion USA.
Overall, global economies are moving into an expansion cycle, which should fuel demand for copper. "If an investor has a five-year game plan, then copper stocks and miners are likely to move higher," Sharma said.&nbsp;
Sharma added that good copper stocks to consider include Freeport McMoran (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>), Southern Copper Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>), Barrick Mining Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>) and Rio Tinto Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>).
<h3 class="wp-block-heading">Zinc</h3>
Zinc is an often overlooked precious metal, but it's critical to infrastructure across the globe. "As major economies reinvest in aging roads, bridges, and transport networks, zinc demand will remain strong," Vig said. "At the same time, recent supply disruptions have tightened the market, creating an attractive setup."
He recommends starting with producers like Teck Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TECK#NYSE">TECK</a>), which offers zinc and copper exposure in a single play. The stock is trading at $37 per share and is down over 8% for the year, suggesting a possible "buy the dip" opportunity.
<h3 class="wp-block-heading">Gold ETFs</h3>
Suppose you're only interested in exposure or short-term trades. In that case, a gold exchange-traded fund can provide a low-cost way of expanding your portfolio and has the added bonus of near-instant liquidity.
There are some caveats, however. "If you're planning to hold gold for a few years or longer, the expense ratio on most gold ETFs is cost inefficient in the long run," Elliot said. "Physical gold often provides a better value for gold longs. You pay the premium once on physical gold, but with an ETF, you pay the expense ratio every year."
It's also ideal to conduct thorough due diligence on gold ETFs.
"Before investing in gold funds, investors must review suitable ETFs to ensure the fund's holdings are purely linked to gold," Sharma said.
<h2 class="wp-block-heading">The Takeaway On Gold And Its Long-Term Outlook</h2>
Near the mid-point of 2025, gold is edging higher for two reasons.&nbsp;
"We are in a time of geopolitical instability and inflation of the monetary supply," said Blake Mclaughlin, vice president of exploration at Axcap Ventures. "With both scenarios at play, it's no surprise that we have seen the price of gold rise consistently over the last 18 months. Also driving the surge in price are the central banks' continuous and real-time adjustments in gold allocation."
Yet despite an uptick in the price, gold comprises just a fraction of a percent of global investment holdings, noted Mclaughlin. "However, with the release of the US Federal Reserve's May meeting minutes, which flagged rising inflation and risks of recession, gold's appeal as a safe-haven asset is likely to increase and may soon make up a larger portion of investor portfolios." 
That's what precious metals with limited capacity can do to drive a portfolio upward.&nbsp;
"When it comes to gold supply, a tap cannot be turned on to increase supply &#8211; it takes years, even decades, to substantially increase it, making a demand spike like the one we are seeing carry significant impacts," Mclaughlin added.
<h2 class="wp-block-heading">Rebound Or Breakdown? Join Matt Maley Live On Wednesday, June 4</h2>
The market is flashing major warning signs—tech is cracking, small caps are diverging, and rate pressure is building fast. Volatility is rising, and a sharp move could hit any day. Join 42-year Wall Street veteran Matt Maley as he breaks down the signals he's watching, the stocks he's targeting for short-term trades, and how he's positioning for the next major move—whether the market rips higher or breaks down next. Reserve your free spot <a href="https://events2.benzinga.com/matt-maley-webinar-wed-june4-2025-registration/?utm_campaign=webinar060425&amp;utm_adType=sponsorad&amp;utm_ad=RD060225&amp;he={{email}}&amp;adt_ei={{email}}&amp;utm_medium=newsletter">HERE</a>.
Editorial content from our expert contributors is intended to be information for the general public and not individualized investment advice. Editors/contributors are presenting their individual opinions and strategies, which are neither expressly nor impliedly approved or endorsed by Benzinga.
Photo: Shutterstock

Opinion

SCCO

3 Gold Alternatives Set To Soar Next

Glencore (OTCPK: GLCNF) has shifted nearly $22 billion in foreign assets into its Australian subsidiary, Glencore Investment Pty Ltd, effectively doubling its holdings to $42 billion. With this move, management consolidated key assets, including <a target="_blank" href="https://www.benzinga.com/topic/coal" rel="noreferrer noopener">coal mines in Canada</a>, South Africa, and Colombia; the MARA copper project in Argentina; and South African manganese, chrome, and vanadium operations, all under a single jurisdiction.
According <a target="_blank" href="https://www.afr.com/companies/mining/glencore-shifts-30b-in-assets-to-australia-in-major-restructure-20250529-p5m3dc" rel="noreferrer noopener">to</a> the Australian Financial Review (AFR), this restructuring may lay the groundwork for a future merger with Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) – rumors of which began circulating in January. The consolidation simplifies Glencore's corporate structure, making it more attractive for such a merger.
"Glencore coal assets would trade at a much higher multiple in Australia than London," Ben Cleary, portfolio manager at Tribeca Investment Partners, said to AFR. "There won't be much reason to go to London other than cricket if Glencore and Anglo get knocked off."
In 2014, Rio Tinto rejected a merger proposal from Glencore, leading to a public standoff between then-CEO Ivan Glasenberg and Rio's leadership.
There's been a bit of a change in tone in recent talks at Rio. Although the outgoing CEO, Jakob Stausholm, has been somewhat reserved, several senior executives, including potential successors, reportedly have a positive outlook on the idea. With Stausholm on his way out, the new leadership could change how Rio views things.
Despite previously <a target="_blank" href="https://www.benzinga.com/m-a/24/08/40216672/glencore-votes-against-spinning-off-coal-remains-open-to-more-acquisitions" rel="noreferrer noopener">shelving plans to spin off its coal division</a>, which accounted for 38% of Glencore's earnings last year, the company has now united all coal operations within its Australian unit.
These assets include the Cerrejón open-pit coal mine in Colombia and the Impunzi thermal coal complex in South Africa. The move may also shield Swiss-based Glencore's more profitable coal operations from regulatory risk and investor scrutiny in Europe.
Glencore has also expanded its operational footprint in Australia, signing a <a target="_blank" href="https://cobaltblueholdings.com/news/cobalt-blue-and-glencore-contract-to-supply-the-kwinana-cobalt-refinery/" rel="noreferrer noopener">three-year supply agreement</a> with Cobalt Blue Holdings (OTCPK: CBBHF) on Thursday to provide cobalt hydroxide feedstock for the Kwinana refinery in Western Australia.
Under the terms of the contract, Glencore will supply up to 50% of the refinery's cobalt requirements, commencing once the facility begins commercial operations. The feedstock will be sourced from Glencore's operations in the Democratic Republic of the Congo, specifically from the Kamoto Copper Company and Mutanda Mining SARL.
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Rumors

Management

CBBHF

GLCNF

Glencore's Restructuring Sets Stage For Mining Mega-Merger

The U.S. Supreme Court on Tuesday rejected an appeal by Apache Stronghold to block the Resolution Copper mine project in Arizona.
The decision allows federal authorities to hand over Oak Flat, a sacred site to the San Carlos Apache tribe, to mining firms Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) and BHP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHP#NYSE">BHP</a>).
The site lies within the Tonto National Forest and contains one of the world's largest <a target="_blank" href="https://www.benzinga.com/topic/copper" rel="noreferrer noopener">undeveloped copper deposits</a>.
The Resolution Copper project is a joint venture between Rio Tinto, which holds 55% and operates the mine, and BHP, which owns the remaining 45%.
The companies have invested over $2 billion in the project, which contains nearly 27 million tons, enough to supply up to 25% of the U.S.'s annual copper demand for decades. The mine can potentially become the largest of its kind in North America.
Copper's role in clean energy technology has made it a highly sought-after commodity. With global demand expected to outpace supply, projects like Resolution have garnered interest from industry and government.
However, industrial ambition clashes with longstanding cultural and spiritual Apache values as the mine would create a crater two miles wide and over 1,000 feet deep, destroying the worship site.
Earlier this month, U.S. District Judge Steven Logan issued a <a target="_blank" href="https://www.benzinga.com/25/05/45343504/judge-halts-arizona-land-transfer-to-rio-tinto-citing-native-appeal" rel="noreferrer noopener">temporary injunction</a> halting the land swap pending the Supreme Court's decision. Now that the court has declined to hear the appeal, the U.S. Forest Service is expected to finalize the environmental impact statement and proceed with the transfer by June 16.
Following standard practice, the court's majority did not explain the denial, but two justices dissented.
Justice Neil Gorsuch, joined in dissent by Justice Clarence Thomas, condemned the court's refusal to intervene. "Faced with the government's plan to destroy an ancient site of tribal worship, we owe the Apaches no less," Gorsuch wrote, <a target="_blank" href="https://www.washingtonpost.com/politics/2025/05/27/supreme-court-oak-flat-western-apaches-copper-mine/" rel="noreferrer noopener">per</a> the Washington Post.
"They may live far from Washington, D.C., and their history and religious practices may be unfamiliar to many. But that should make no difference," he noted, criticizing the decision as one that could reverberate for generations.
Mila Besich, the Democrat mayor of Superior, Arizona, which lies closest to the project, called the decision a breakthrough. "We've been waiting on this ruling for a very long time," she said. "For Superior and all of Arizona, this project will be an economic boon."
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Supreme Court Rejects Appeal, Allows Rio Tinto Mine To Proceed On Tonto Forest Sacred Land

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2025/05/23/final-trades-nvidia-cisco-rio-tinto-and-chipotle.html">Halftime Report Final Trades</a>,&#8221; Kevin Simpson, Capital Wealth Planning CIO, named NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) as his final trade ahead of the quarterly earnings report. The company has topped top and bottom line estimates for the past four quarters and he expects Nvidia to do the same when they report <a href="https://www.benzinga.com/quote/NVDA/earnings">earnings this week</a>.
Nvidia is scheduled to release first-quarter earnings, after the closing bell on Wednesday, May 28. Analysts expect the company to report quarterly earnings of 88 cents per share on revenue of $43.54 billion.
Jim Lebenthal of Cerity Partners said Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) is going to benefit from data centers.
Supporting his view, Cisco Systems, on May 14, reported better-than-expected third-quarter financial results, raised its FY25 guidance, and issued fourth-quarter adjusted EPS guidance above estimates.
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here </a>
Jenny Van Leeuwen Harrington, chief executive officer of Gilman Hill Asset Management, LLC, said Rio Tinto Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) has 9 times earnings, 6% dividend yield, and also has a new CEO coming on at the end of the year.
Rio Tinto on Thursday disclosed that its CEO Jakob Stausholm will step down from his role later this year. Jakob joined the company in 2018 as executive director and CFO and took on the role of CEO in January 2021.
Stephanie Link, chief investment strategist and portfolio manager at Hightower, said that although Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) has been a disappointment this year, unit growth and margin expansion are set to expand.
As per the recent news, Chipotle Mexican Grill, on May 6, named Jason Kidd as its chief operating officer.
Price Action:
<ul class="wp-block-list">
<li>Nvidia shares fell 1.2% to close at $131.29 on Friday.</li>
<li>Cisco shares fell 0.4% to close at $63.11 on Friday.</li>
<li>Rio Tinto gained 0.8% to settle at $61.58 during Friday's session.</li>
<li>Chipotle shares fell 0.3% to close at $50.63.</li>
</ul>
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Nvidia, Cisco, Chipotle And A Basic Materials Stock: CNBC's 'Final Trades'

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer recommended buying Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>). &#8220;I just think this is a decent level to start a position if you don't have any<a href="https://www.benzinga.com/quote/LLY">,</a>&#8220;<a href="https://www.benzinga.com/quote/LLY"> he noted</a>.
As per recent news, Lilly&#8217;s Kisunla (donanemab) received marketing authorization in Australia on May 21 for the treatment of early symptomatic Alzheimer&#8217;s disease.
&#8220;That one's done,&#8221; Cramer said when asked about Navitas Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVTS#NASDAQ">NVTS</a>). &#8220;I say take your money out that you put in and then you can let the rest ride.&#8221;
Nvidia, last week, selected the company to collaborate on 800V HVDC architecture.
Cramer recommended taking profit from Mr. Cooper Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COOP#NYSE">COOP</a>). &#8220;That thing's done,&#8221; he added.
Supporting his view, Mr. Cooper posted weaker-than-expected quarterly sales on April 23.
Red Cat Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCAT#NASDAQ">RCAT</a>) is &#8220;just one darn crazy&#8221; stock, adding that the stock is not making any money.
On the earnings front, Red Cat reported first-quarter revenue of $1.63 million on May 14, missing analyst estimates of $3.85 million. The company reported a first-quarter loss of 27 cents per share, missing analyst estimates for a loss of eight cents per share, according to Benzinga Pro.
Rocket Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>) is a &#8220;very fine&#8221; company, Cramer said.
Lending support to his choice, Rocket Companies, on May 8, posted better-than-expected quarterly sales.
&#8220;I've got to tell you, I am not in the oil service business,&#8221; Cramer said when asked about Liberty Energy Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LBYE#OTC">LBYE</a>). He said he didn&#8217;t &#8220;care for the stock&#8221; of Halliburton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) but liked Schlumberger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>).
The Mad Money host said he likes Rio Tinto Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>).
As per recent news, Rio Tinto on Thursday disclosed that its CEO, Jakob Stausholm, will step down later this year. Jakob joined the company in 2018 as executive director and CFO and took on the role of CEO in January 2021.
When asked about DeFi Development Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DFDV#NASDAQ">DFDV</a>), Cramer recommended buying Bitcoin (CRYPTO: BTC).
On May 16, DeFi Development announced a partnership with BONK to operate and manage a jointly backed validator node.
Price Action:
<ul class="wp-block-list">
<li>Eli Lilly shares fell 0.2% to settle at $713.71 on Friday.</li>
<li>Navitas shares declined 12.7% to close at $4.41 during the session.</li>
<li>Rocket shares gained 0.9% to settle at $12.68.</li>
<li>Rio Tinto shares gained 0.8% to close at $61.58.</li>
<li>DeFi Development shares dipped 18.9% to settle at $34.45 on Friday.</li>
<li>Red Cat shares gained 1.3% to settle at $6.82 on Friday.</li>
<li>Liberty Energy shares closed at 0.0001 during the session.</li>
<li>Mr. Cooper shares gained 1.6% to close at $129.50.</li>
</ul>
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Photo: Shutterstock

$BTC

COOP

DFDV

LBYE

NVTS

RCAT

Jim Cramer Says Rocket Is A 'Very Fine' Company, Recommends Buying This Health Care Stock

CNBC Halftime Report Final Trades: NVDIA, Cisco Systems, Rio Tinto, Chipotle Mexican Grill

Diversified global miner Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) is doubling down on direct lithium extraction (DLE) technology, with its investment in Chile&#8217;s Maricunga project. In partnership with Chile's state-owned Codelco, Rio Tinto is expected to invest <a href="https://www.benzinga.com/news/global/25/05/45513934/rio-tinto-expands-lithium-push-with-900-million-maricunga-deal">up to $900 million</a> into the lithium-rich salt flat, marking the country's most significant lithium development in years.
Unlike traditional evaporation ponds, which can take over a year and consume vast amounts of water, DLE uses chemical or mechanical processes to extract lithium directly from brine. It reduces land use and water consumption and can be deployed in arid regions where water is a critical resource.
Although touted as an industry changer, the method has yet to be proven and has not been commercially used in Chile.
"The ability to deliver at scale, efficiently and reliably will be a decisive factor in the project&#8217;s competitiveness and investor confidence," Nicole Porcile, a partner at mining consultancy Anagea, said, according to Reuters.
Rio Tinto is not alone in exploring DLE's potential. Through a joint venture between <a href="https://www.benzinga.com/news/legal/25/01/43024951/saudi-arabia-advances-lithium-plans-looks-beyond-oil-for-commodity-diversification">Aramco and Ma'aden</a>, Saudi Arabia plans to roll out DLE technology as part of its Vision 2030 strategy to reduce oil dependency. Meanwhile, Exxon Mobil is gearing up for DLE-based extraction in Arkansas' Smackover Formation, aiming to produce enough lithium to power <a href="https://www.benzinga.com/government/24/10/41495672/lithium-reserve-found-in-arkansas-with-help-from-ai-why-it-impacts-exxon-mobil">one million EVs annually by 2030</a>.
Canadian innovator Volt Lithium has been among the industry pioneers, exploring DLE in the oil production hotspot—the Permian Basin. Its founder and CEO, Alex Wylie, <a href="https://www.benzinga.com/markets/commodities/24/06/39480795/exclusive-volt-lithium-ceo-touts-6b-cash-flow-opportunity">told</a> Benzinga last year about the steep learning curve in DLE development.
"One of the things we do is fail a lot. We build a pilot plant, we fail all the time, and there&#8217;s nothing like failing to succeed. Each failure allows us to change a step and improve,&#8221; he said.
It took multiple generations of extraction technology to produce battery-grade metal, which Wylie said costs them around $2,900 per ton. Volt continues testing in the Permian, pushing for efficient, scalable lithium production. Yet, its production price, which is far below the current market price of $8750 per ton (incomparable to the peak price of $79,600 per ton), shows the DLE's potential.
Rio Tinto&#8217;s DLE pilot at the Rincon project in Argentina gave it a competitive edge during Codelco's partner selection process. Still, scaling that technology to Chile's unique geological and environmental conditions poses challenges. "That&#8217;s certainly the goal: to develop and operate this in the most environmentally friendly manner possible," Porcile said.
Chilean President Gabriel Boric has supported DLE as a requirement for new lithium ventures, although he later softened the stance to allow traditional extraction in select projects. Nevertheless, the political push aligns with environmental and market pressures to innovate and secure cheaper and cleaner sources of this essential green energy transition metal.
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Image created using artificial intelligence via Midjourney.

Can Rio Tinto Crack Chile's Lithium Code? $900 Million Bet On Breakthrough Extraction

Rio Tinto plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) on Thursday disclosed that its CEO Jakob Stausholm will step down from his <a href="https://www.benzinga.com/topic/mining">role later this year</a>.
Jakob joined the company in 2018 as executive director and CFO and took on the role of CEO in January 2021.
Rio Tinto Chair Dominic Barton praised Stausholm's leadership and restoring &#8220;trust with key stakeholders&#8221;.
&#8221;Our focus on these things is undiminished and our strategic priorities are unchanged. This is a natural moment to appoint Jakob's successor, as we look ahead to our next phase in which we will double down to deliver greater operational performance to realise the full potential of our assets,&#8221; he added.
Separately, Rio Tinto disclosed plans to begin preliminary work on expanding production at the Amrun bauxite mine in Far North Queensland.
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The goal is to start production as early as 2029. The project, named Kangwinan at the request of the Wik Waya Traditional Owners, will include developing a new mine and enlarging the existing port facilities.
This expansion aims to nearly double the bauxite output from Rio Tinto's Weipa Southern operations, where Amrun is based.
Output from the Kangwinan project is intended to replace production from the Andoom mine in Cape York and the Gove mine in the Northern Territory, which are expected to wind down by the decade&#8217;s end.
If given the green light, the project will create a new mining hub roughly 15 kilometers southeast of the Amrun site, which opened in 2018 following a $1.9 billion investment.
The proposed expansion would boost Rio Tinto's annual bauxite output from its Weipa Southern operations by up to 20 million tonnes, adding to the current 23 million tonnes, and increase export capacity through the Amrun port.
This would primarily offset the production declines expected from the eventual closures of the Gove and Andoom mines.
The Kangwinan project is expected to create over 800 construction jobs and help retain the current workforce employed at Weipa's existing mining sites set to close.
A final investment decision is anticipated in 2026.
On Tuesday, the company committed $900 million for a 49.99% stake in Chile&#8217;s Salar de Maricunga, a lithium project controlled by the <a href="https://www.benzinga.com/news/global/25/05/45513934/rio-tinto-expands-lithium-push-with-900-million-maricunga-deal" target="_blank" rel="noreferrer noopener">Chilean state-owned miner </a><a href="https://www.benzinga.com/news/global/25/05/45513934/rio-tinto-expands-lithium-push-with-900-million-maricunga-deal" target="_blank" rel="noreferrer noopener">Codelco</a>.
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 iShares Copper and Metals Mining ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICOP#NASDAQ">ICOP</a>).
Price Action: RIO shares are up 0.52% at $62.30 premarket at the last check on Thursday.
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Image: Shutterstock

ICOP

Rio Tinto CEO To Step Down, Launches $1.9B Bauxite Expansion Plan

U.S. stock futures swung on Thursday after two days of decline on Wednesday. Futures of major benchmark indices were trading mixed in premarket.
After a marathon 22-hour hearing, the <a href="https://www.benzinga.com/25/05/45558613/house-advances-trumps-sweeping-one-big-beautiful-bill-after-key-medicaid-tax-and-border-security-changes">House Rules Committee moved</a> President Donald Trump&#8216;s &#8220;$4.9 trillion legislative package&#8221; forward with an 8-4 vote on the &#8220;One Big Beautiful Bill Act.&#8221; 
This action paves the way for a potential overnight floor vote, as Republicans press ahead despite internal party disagreements.
Meanwhile, the 10-year Treasury bond yielded 4.57% and the two-year bond was at 3.99%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 94.7% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.07%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.06%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.13%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.04%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Thursday. The SPY was up 0.14% to $583.68, while the QQQ advanced 0.25% to $514.34, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
Most S&amp;P 500 sectors closed lower Wednesday, with real estate, healthcare, and financial stocks seeing the largest declines.
However, communication services bucked the trend, finishing higher. Investors remained cautious amid fresh worries about fiscal policy.
Meanwhile, Lowe's Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) reported mixed first-quarter fiscal 2025 results, and Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) posted weaker-than-expected first-quarter figures.
On the economic front, U.S. mortgage application volumes fell 5.1% from the prior week for the period ending May 16.
The Dow Jones index declined 817 points or 1.91% to 41,860.44, whereas the S&amp;P 500 index fell 1.61% to 5,844.61. Nasdaq Composite ended 1.41% lower at 18,872.64, and the small-cap gauge, Russell 2000, dropped 2.80% to 2,046.56.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-1.41%</td>
<td>18,872.64</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-1.61%</td>
<td>5,844.61</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-1.91%</td>
<td>41,860.44</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-2.80%</td>
<td>2,046.56</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
The Senior Global Market Strategist at Wells Fargo, Scott Wren, said that &#8220;We do not see the U.S. economy dipping into a recession this year as consumer spending should continue to grow modestly with growth in real incomes.&#8221;
Wren anticipates a modest rebound in GDP next year, rising to 1.8% from their projected 1% for this year, following a continued growth slowdown over the next couple of quarters.
Wells Fargo doesn&#8217;t foresee a U.S. recession this year because consumer spending should continue its modest growth, bolstered by increasing real incomes, even if it&#8217;s weaker than late last year.
While unemployment is expected to tick up due to below-average economic growth, Wells Fargo&#8217;s 5.3% projection for 2026 remains well below recessionary levels.
Furthermore, he added that &#8220;We also still see plenty of up and down in equity prices but ultimately a higher S&amp;P 500 Index by the end of 2026.&#8221;
Meanwhile, Kristian Kerr, head of macro strategy at LPL Financial, said that &#8220;Greater clarity is expected later this summer, as economic data tends to lag, meaning the full impact of tariffs may not be evident until June or July at the earliest.&#8221;
Additionally, he explained that the current policy landscape remains in flux, with broader tariffs largely paused until early July and China exempt from significant tariff increases until August 12.
&#8220;If meaningful economic weakness does materialize — confirmed by hard data mirroring the softness seen in leading indicators — or trade negotiations deteriorate, another bout of market volatility could ensue, potentially aligning with historical seasonal patterns where equities often struggle from late summer into fall.&#8221;
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures </a>
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on Thursday:
<ul class="wp-block-list">
<li>Initial jobless claims data for the week ending May 17 will be out by 8:30 a.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>The S&amp;P flash U.S. services and manufacturing PMI for May will be released by 9:45 a.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>April&#8217;s existing home sales will be announced by 10:00 a.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>New York Fed President John Williams will speak at 2:00 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul class="wp-block-list">
<li>BJ&#8217;s Wholesale Club Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BJ#NYSE">BJ</a>) was up 0.51% in premarket on Thursday as analysts expect it to report quarterly earnings of 91 cents per share on revenue of $5.20 billion, before the opening bell.</li>
<li>Analog Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>) advanced 1.16% as Wall Street expects it to report earnings before the opening bell. It is expected to post earnings of $1.70 per share on revenue of $2.51 billion.</li>
<li>Williams-Sonoma Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>) was 0.048% higher as analysts expect it to report quarterly earnings of $1.76 per share on revenue of $1.67 billion, before the opening bell.</li>
<li>Advance Auto Parts Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAP#NYSE">AAP</a>) rose 1.25% as Wall Street expects it to report earnings before the opening bell. It is expected to post a quarterly loss of 69 per share on revenue of $2.51 billion.</li>
<li>Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) jumped 9.54% after posting better-than-expected earnings and sales results for the first quarter. The company also said it expects second-quarter product revenue in the range of $1.035 billion to $1.04 billion, up approximately 25% year-over-year.</li>
<li>Zoom Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) was 0.17% higher after reporting stronger-than-expected earnings for its first quarter after Wednesday's closing bell.</li>
<li>Urban Outfitters Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URBN#NASDAQ">URBN</a>) surged 17.50% after posting a better-than-expected first quarter result and highlighting diversification strategies to mitigate tariffs in its earnings call.</li>
<li>Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) was up 0.13% after announcing the acquisition of Johnson Matthey&#8216;s Catalyst Technologies business, expanding its portfolio of leading catalyst and process technologies.</li>
<li>Rio Tinto PLC ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) advanced 0.58% after announcing the start of early works and final studies to increase Amrun mine's bauxite production on Queensland's Cape York Peninsula.</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading lower in the early New York session by 1.20% to hover around $60.83 per barrel.
Gold Spot US Dollar fell 0.10% to hover around $3,312.13 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 0.169% at the 99.7170 level.
Asian markets were lower on Thursday as South Korea's Kospi, India's S&amp;P BSE Sensex, Japan's Nikkei 225, Australia's ASX 200, Hong Kong's Hang Seng, and China&#8217;s CSI 300 indices declined. European markets were also lower in early trade.
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Photo courtesy: Shutterstock

Market Summary

Futures

SNOW

URBN

US Stock Likely To Open On A Mixed Note After 2-Day Fall: 'We Do Not See The US Economy Dipping Into A Recession This Year,' Says Expert

Diversified global miner Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) has made the next significant step into battery metals, committing $900 million for a 49.99% stake in Chile's Salar de Maricunga, a <a target="_blank" href="https://www.benzinga.com/topic/lithium" rel="noreferrer noopener">world-class lithium project</a> controlled by the Chilean state-owned miner Codelco.
"We are honoured to be chosen as Codelco's partner to deliver a world-class project using direct lithium extraction technology in the Salar de Maricunga," Rio Tinto's CEO Jakob Stausholm <a target="_blank" href="https://www.riotinto.com/en/news/releases/2025/rio-tinto-partners-with-codelco-to-develop-lithium-project-in-chiles-salar-de-maricunga" rel="noreferrer noopener">said</a> Monday.
"Codelco is a strategic partner for Rio Tinto in Chile… we aim to bring significant investment and long-term benefits to the Atacama region as we advance Maricunga and Nuevo Cobre together."
The Salar de Maricunga, located in Chile's Atacama region, is one of the world's highest-grade undeveloped lithium brine resources and holds the potential for scalable, long-life, low-cost production. The joint venture plans to use direct lithium extraction technology to boost efficiency and reduce environmental impact, particularly regarding water usage, a critical issue in the arid zone like Northern Chile.
As part of the deal, Rio Tinto will make an initial $350 million investment to support feasibility studies and resource evaluations needed for a final investment decision. If the project proceeds to construction, another $500 million will be injected, and a $50 million bonus payment will be made if lithium production begins by the end of 2030.
Codelco Chairman Máximo Pacheco noted the deal's strategic importance for Chile's energy future.
"This project continues our lithium diversification strategy, which is essential for the energy transition, with a world-class partner in Rio Tinto that represents the most attractive option for Codelco and the country," he said.
The investment marks Rio Tinto's latest expansion into <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">South American lithium after acquiring</a> Arcadium Lithium for $6.7 billion last year. The new partnership in Chile deepens Rio's regional presence and strengthens its role as a global lithium player.
While Rio's lithium ambitions are growing, market conditions remain subdued, prompting sector leaders like Albemarle to pause the $1.3 billion US plant project. In Q1 2025, lithium prices hit four-year lows, driven by global oversupply and weaker-than-expected electric vehicle demand.
"We're expecting this year for the market to remain in surplus," Adam Webb, head of battery raw materials at Benchmark Mineral Intelligence, said <a target="_blank" href="https://investingnews.com/daily/resource-investing/battery-metals-investing/lithium-investing/lithium-forecast/" rel="noreferrer noopener">per</a> INN.
Webb noted that current price levels, around $10,400 per metric ton, are unsustainable, with about a third of global producers operating at a loss. However, from 2026 onward, the market is forecast to tip into deficit. Long-term projections suggest a 12–15% compound annual growth rate for lithium demand, with prices expected to rebound to support new supply development, ultimately driven by expanding EV and energy storage sectors.
Price Action: RIO share traded lower by 0.43% to $62.12 premarket at the last check Tuesday.
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Photo by Juan Roballo via Shutterstock

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