LONDON, October 20, 2021–(BUSINESS WIRE)–Today, Rio Tinto is outlining the actions being taken to strengthen the business and improve performance. It is also unveiling a longer-term strategy to ensure it thrives in a decarbonising world and continues to deliver attractive shareholder returns, in line with its policy.

The deployment of the Rio Tinto Safe Production System is underway to ensure the Group regains its position as Best Operator. The Group is combining systematic long-term programmes with rapid improvement activities targeted at bottlenecks in order to reduce operational variability and increase resilience.

Governments are setting more ambitious targets and accelerating actions on climate change. Society at large is also demanding companies take more action to decarbonise. To meet the challenge, stay relevant and capture the opportunity Rio Tinto is raising its ambition and taking actions.

The Group is unveiling a new target to reduce its Scope 1 & 2 carbon emissions by 50 per cent by 2030, more than tripling its previous target. A 15 per cent reduction in emissions is now targeted for 2025, five years earlier than previously. These targets are supported by around $7.5 billion of direct investments to lower emissions between 2022 and 2030.

In recognition of the broader carbon footprint of the commodities it produces, Rio Tinto will accelerate its investment in R&D and development of technologies that enable its customers to decarbonise. Working in partnership with governments, suppliers, customers, academia and others Rio Tinto will continue to develop technologies like ELYSIS^TM for carbon-free aluminium and multiple pathways to produce green steel.

To meet additional demand created by the global drive to net zero emissions, Rio Tinto will prioritise growth capital in commodities vital for this transition with an ambition to double growth capex to about $3 billion a year from 2023.

Rio Tinto can decarbonise, pursue growth and continue to deliver attractive returns to shareholders due to its strong balance sheet, world-class assets and focus on capital discipline.

Rio Tinto Chief Executive Jakob Stausholm said "Rio Tinto is taking action to strengthen our business and improve our performance by unleashing the full potential of our people and assets, working in partnership with a broad range of stakeholders.

"All our commodities are vital for the energy transition and continue to benefit from ongoing urbanisation. We have a clear pathway to decarbonise our business and are actively developing technologies that will enable our customers and our customers’ customers to decarbonise.

"We are able to do this, while continuing to provide attractive returns to our shareholders in line with our policy, because we have a strong balance sheet and world-class assets that deliver strong free cash flows through the cycle."

Key points from the presentation include:

• Rio Tinto is targeting a 50% reduction in scope 1&2 emissions by 2030 and a 15% reduction by 2025 from a 2018 baseline of 32.6Mt (CO₂ equivalent – equity basis).

• ~$7.5 billion in direct capital expenditure decarbonising Rio Tinto’s assets from 2022 to 2030, with a focus on renewable power for iron ore in the Pilbara and for the Australian aluminium smelters, including $0.5 billion per year from 2022 to 2024.

• ~$200 million of incremental operating expenditure on building new capabilities, energy efficiency initiatives and R&D.

• Overall capital guidance of ~$7.5 billion in 2021 (unchanged), ~$8 billion in 2022 (previously ~$7.5 billion) and an ambition to spend between $9 billion and $10 billion per year in 2023 and 2024. This includes sustaining capital of ~$3.5 billion a year (previously $3.0-3.5 billion), of which $1.5 billion a year relates to Pilbara Iron Ore.

Iron ore

• Medium-term Pilbara iron ore system capacity of between 345 million and 360 million tonnes per year (on a 100% basis)¹.

• Decarbonisation of the Pilbara will be accelerated by targeting the rapid deployment of 1GW of wind and solar power. This would abate around 1 million tonnes of CO₂, replace natural gas power for plant and infrastructure and support early electrification of mining equipment.

• Full electrification of our Pilbara system, including all trucks, mobile equipment and rail operations, will require further gigawatt-scale renewable deployment and advances in fleet technologies.

• Options to provide a greener steelmaking pathway for Pilbara iron ore are being investigated, including with biomass and hydrogen.

Aluminium

• Rio Tinto Aluminium is the most profitable integrated aluminium business with an advantaged position in renewable energy.

• Options are progressing to switch the Boyne Island and Tomago smelters in Australia to renewable energy, which will require an estimated ~5GW (equity basis) of solar and wind power, along with a robust firming solution.

• A potential attractive structural change in the aluminium market driven by continued demand growth and supply-side constraints including ongoing pressures on fossil-fuel sourced energy.

• Development of ELYSIS^TM to eliminate carbon emissions from the smelting process is progressing, with commercial scale technology on track for 2024.

¹ Mid-term defined as upon completion of the next tranche of new and replacement mines including Western Range, Bedded Hill Top and Hope Downs 2 and Brockman Syncline to reach and sustain capacity. These mines are expected to start commissioning from 2025. To reach and sustain the upper end of the range requires the next tranche of replacement mines due between 2025 and 2027.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211019006262/en/

Contacts

Please direct all enquiries to media.enquiries@riotinto.com

Media Relations, UK

Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Americas

Matthew Klar
T +1 514 608 4429

Media Relations, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Investor Relations, UK

Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Investor Relations, Australia

Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc

6 St James’s Square
London SW1Y 4AD
United Kingdom

T +44 20 7781 2000
Registered in England
No. 719885

Rio Tinto Limited

Level 7, 360 Collins Street
Melbourne 3000
Australia

T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

riotinto.com

This announcement is authorised for release to the market by Steve Allen, Rio Tinto’s Group Company Secretary.

Category: general

(Bloomberg) — BHP Group, the world’s biggest mining company, has raised its offer for Noront Resources Ltd., trumping a bid from iron ore billionaire Andrew Forrest and securing the support of the Canadian nickel miner’s board.

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The Melbourne-based company increased its bid by 36% to C$0.75 per share, above the C$0.70 offered by Forrest’s Wyloo Metals Pty Ltd.

BHP said the offer, which is open to shareholders until Nov. 9, doesn’t require the support of Wyloo to proceed, even though that company holds about 37% of Noront stock.

Wyloo and BHP have been in a bidding war to gain access to Noront’s high-grade Canadian nickel deposits in a largely untapped region of northern Ontario dubbed the Ring of Fire. Mining heavyweights are racing to control more supplies of raw materials that are key to transitioning to low-carbon energy sources. Nickel is one of the key metals used in lithium-ion batteries for electric vehicles.

“Noront and BHP believe that the offer provides Noront shareholders with the value inherent in Noront’s portfolio of projects without the long-term risks associated with the development and execution of those projects,” BHP said in a media statement.

Noront shares rose 3.9% to C$0.81 a 9:43 a.m. trading in Toronto, the biggest jump since Sept. 10. Shares of BHP fell 1.1% in London.

(Adds shares of Noront and BHP in last paragraph.)

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Global demand for lithium has soared as a main ingredient in batteries that power everything from smart phone to electric vehicles.

Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today:

Intrepid Potash, Inc. IPI: This producer and seller of potash and langbeinite products has seen the Zacks Consensus Estimate for its current year earnings increasing 4.4% over the last 60 days.

Intrepid Potash, Inc Price and Consensus

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Ranger Oil Corporation ROCC: This company that engages in exploration, development and production of oil, NGLs and natural gas has seen the Zacks Consensus Estimate for its current year earnings increasing 13.3% over the last 60 days.

Ranger Oil Corp. Price and Consensus

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Celanese Corporation CE: This manufacturer and seller of high-performance engineered polymers has seen the Zacks Consensus Estimate for its current year earnings increasing 2.1% over the last 60 days.

Celanese Corporation Price and Consensus

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Washington Federal, Inc. WAFD: This non-diversified unitary savings and loan holding company has seen the Zacks Consensus Estimate for its current year earnings increasing 4.8% over the last 60 days.

Washington Federal, Inc. Price and Consensus

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Kite Realty Group Trust KRG: This vertically integrated real estate investment trust has seen the Zacks Consensus Estimate for its current year earnings increasing 2.3% over the last 60 days.

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You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Zacks Investment Research

VANCOUVER, British Columbia, Oct. 20, 2021 (GLOBE NEWSWIRE) — Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (“Search” or the “Company”) and USA Rare Earth, LLC (“USA Rare Earth”) are pleased to announce that Search Minerals Inc. and USA Rare Earth, LLC have signed a non-binding Memorandum of Understanding (“MOU”) for an offtake of 500 tonnes/year of Neodymium (Nd) / Praseodymium (Pr) from future production at the Deep Fox or Foxtrot deposits. The parties will continue to conduct customary, commercially reasonable due diligence in advance of entering into any definitive agreements. In addition, USA Rare Earth exercised 4,500,000 warrants as part of the Accelerated Warrant program as announced in the Company’s press release dated August 18, 2021. Each warrant was exercisable into one common share at a price of $0.10, and as announced in the Company’s press release dated August 18, 2021, the Company had accelerated the expiry date of the warrants to September 30, 2021.

This MOU is part of Search’s and USA Rare Earth’s development plans to expand the collaboration to include discussions regarding separation, marketing and offtake of a portion of the future production at Deep Fox and Foxtrot. These discussions are in line with Search’s ambition to be an important contributor to the development of a North American Critical Material supply chain and USA Rare Earth’s strategy of Mine-to-Magnet processing and the development of a complete and sustainable North American rare earth supply chain.

On November 10, 2020 Search and USA Rare Earth jointly announced a Technical Collaboration Framework Agreement whereby the two companies would work on several initiatives.

Greg Andrews, President/CEO of Search, stated: “We have already started a strong technical collaboration with USA Rare Earth and are pleased to deepen our relationship through this MOU and the exercise of warrants by USA Rare Earth. Search will continue our “Sprint to Production” which includes: 1) producing the Q1 2022 Preliminary Economic Assessment Report on the combined Deep Fox and Foxtrot deposits, 2) continued environmental baseline studies, and 3) processing the 80 tonne bulk sample material for our magnetic demonstration plant testing.”

Simon Sullivan, Chief Commercial Officer of USA Rare Earth, said, “We are excited to continue our collaboration with Search as we work to stand up a transparent North American critical mineral supply chain. USA Rare Earth continues to execute on its Mine-to-Magnet strategy of bringing back fully-integrated domestic production of rare earth permanent (NdFeB) magnets to the United States. Once operational, USA Rare Earth’s NdFeB magnet plant will initially produce 2,000 tonnes annually of high-performance rare earth magnets, with the ability to scale production further based on growing market demand.”

Growth in rare earth markets is being driven by rare earth (neo) magnets used in electric motors for vehicles and generators in wind turbines. Neo magnets used in these high-temperature applications use alloys including neodymium, praseodymium, dysprosium, and terbium. Search has significant resources of these elements at Deep Fox and Foxtrot, which will be complementary to the USA Rare Earth Round Top Mountain critical minerals and heavy rare earth project, which has a high concentration of dysprosium and terbium as well as neodymium and praseodymium.

For further information, please contact:

About Search Minerals Inc.

Led by a proven management team and board of directors, Search is focused on finding and developing Critical Rare Earths Elements (CREE), Zirconium (Zr) and Hafnium (Hf) resources within the emerging Port Hope Simpson – St. Lewis CREE District of South East Labrador. The Company controls a belt 63 km long and 2 km wide and is road accessible, on tidewater, and located within 3 local communities. Search has completed a preliminary economic assessment report for FOXTROT, and a resource estimate for DEEP FOX. Search is also working on three exploration prospects along the belt which include: FOX MEADOW, SILVER FOX and AWESOME FOX.

Search has continued to optimize our patented Direct Extraction Process technology with the generous support from the Department of Tourism, Culture, Industry and Innovation, Government of Newfoundland and Labrador (“InnovateNL”), and from the Atlantic Canada Opportunity Agency (“ACOA”). We have completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining. For more information about Search, visit www.searchminerals.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About USA Rare Earth, LLC

USA Rare Earth, LLC owns an 80% operating joint venture interest in, and is the operator of, the Round Top Heavy Rare Earth and Critical Minerals Project located in Hudspeth County, West Texas. Round Top hosts a wide range of critical heavy rare earth elements, high-tech metals, including lithium, zirconium, hafnium and beryllium, and, based on the Preliminary Economic Assessment (dated August 16, 2019) projects a pre-tax net present value using a 10% discount rate of $1.56 billion based on a 20-year mine plan that is only 13% of the identified measured, indicated and inferred resources. Based on the cost estimates set forth in the PEA, Round Top would be one of the lowest-cost rare earth producers, and one of the lowest cost lithium producers in the world. The Round Top Deposit hosts 16 of the 17 rare earth elements, plus other high-value tech minerals (including lithium) and is well located to serve the US internal demand. USA Rare Earth has also opened a rare earth and critical minerals processing facility in Wheat Ridge, Colorado and in April 2020 USA Rare Earth acquired a neodymium iron boron (NdFeB) permanent magnet manufacturing production line. For more information about USA Rare Earth, visit www.usare.com

Cautionary Statement Regarding “Forward-Looking” Statements:

This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward-looking statements.

Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

Mosaic (MOS, daily) formed a little shelf recently after a nice move from its bottom. A great place to add to a position or even initiate a shorter-term trade.

VANCOUVER, British Columbia, Oct. 19, 2021 (GLOBE NEWSWIRE) — Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) announces a non-brokered private placement (the “Placement”) of up to 4,000,000 units (the Units”) at a price of $0.125 per Unit for total gross proceeds of up to $500,000 to fund drill programs on the Company’s silver-gold projects in Durango and Zacatecas States, Mexico. A finder’s fee may be paid with respect to all or part of this Placement. The terms of the Placement are subject to acceptance by the TSX Venture Exchange.

Each Unit will consist of one common share of the Company and one half of one non-transferable share purchase warrant. Each whole warrant (a “Warrant”) will be exercisable to purchase one additional common share of the Company at a price of $0.20 during the first year, increasing to $0.25 in year two following the closing of the offering.

The proceeds of the Placement will be used to fund continued drill programs on the Company’s silver-gold exploration projects in Durango and Zacatecas States, Mexico, and for working capital.

About Canasil:

Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold-copper-lead-zinc exploration projects in Durango and Zacatecas States, Mexico, and in British Columbia, Canada. The Company’s directors and management include industry professionals with a track record of identifying and advancing successful mineral exploration projects through to discovery and further development. The Company is actively engaged in the exploration of its mineral properties, and maintains an operating subsidiary in Durango, Mexico, with full time geological and support staff for its operations in Mexico.

For further information please contact:

Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
Tel: (604) 709-0109
www.canasil.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

BHP Group BHP released production details for the quarter ended Sep 30, 2021 and affirmed its previously announced production and cost guidance for fiscal 2022. Total iron ore production dipped 4% to 63 Mt (million tons) in the quarter due to higher planned maintenance and temporary rail labor shortages related to COVID-19 related border restrictions. The company reported declines in quarterly output for copper, metallurgical coal and nickel, while petroleum and energy coal were up year over year.

Last week, the company’s peer, Rio Tinto plc RIO, reported a 4% drop in iron ore production to 83.3 Mt in the July-September quarter citing heritage management, brownfield mine replacement tie-ins and project completion delays. The company now expects to ship iron ore between 320 Mt and 325 Mt this year, down from the previous range of 325 Mt to 340 Mt as a tighter labor market in Western Australia led to delay in the completion of a new greenfield mine at Gudai-Darri and the Robe Valley brownfield mine replacement project.

BHP’s Production Highlights

In the third quarter, BHP’s iron ore production was primarily impacted by a 6% decline in production at Western Australia Iron Ore (“WAIO”). This was due to planned maintenance during the quarter, including major maintenance of car dumper one and the train load out at Jimblebar, and temporary rail labor shortages related to COVID-19 related border restrictions. This was partially offset by strong mine performance and optimization of Yandi’s end-of-life ramp-down.

Total petroleum production was 27.5 MMboe (million barrels of oil equivalent) for the period under review, up 3% year over year driven by higher volumes due to increased production from Ruby and higher seasonal gas demand at Bass Strait. Copper production was down 9% year over year to 377 kt in the quarter due to lower volumes at Olympic Dam on account of the commencement of the planned smelter maintenance campaign, which was delayed by one month owing to COVID-19 related border restrictions.

Metallurgical coal production fell 9% to 9 Mt due to planned maintenance. Energy coal production was up 17% to 4 Mt on increased stripping enabled by continued improvement in underlying truck productivity. Nickel production slumped 20% year over year to 17.8 kt due to planned maintenance across the supply chain.

Maintains Fiscal 2022 Production & Cost Guidance

In fiscal 2022, BHP expects to produce between 249 Mt and 259 Mt of iron ore compared with 253.5 Mt produced in fiscal 2021 as WAIO continues to focus on incremental volume growth through productivity improvements. The company’s petroleum production guidance for fiscal 2022 is expected to be 99-106 MMboe. BHP anticipates copper production between 1,590 kt and 1,760 kt in fiscal 2022. Production guidance of Metallurgical coal for fiscal 2022 is at 39-44 Mt, while the same for energy coal is at 13-15 Mt. Nickel production for fiscal 2022 is anticipated between 85 kt and 95 kt.

For fiscal 2022, WAIO unit cost guidance is projected at $17.50-$18.50 per ton. Escondida unit cost is estimated to be $1.20 to $1.40 per pound. The Queensland Coal unit cost for fiscal 2022 is expected to be $80-$90 per ton. Conventional Petroleum unit cost is projected at $11-$12 per boe for fiscal 2022. NSWEC unit costs are expected between $62 per ton and $70 per ton.

Development Projects on Track

As of Sep 30, 2021, BHP had four major projects under development in petroleum (Mad Dog Phase 2 and Shenzi North development) and potash (Jansen mine shafts and Jansen Stage 1). This calls for a combined budget of $11.2 billion over the life of the projects.

The company also stated that the previously announced agreement to pursue a proposed merger of its Petroleum business with Woodside, which would create a global top 10 independent energy company, is progressing according to the plan. Following receipt of all approvals, the merger is expected to be completed in the second quarter of the 2022 calendar year. The company’s intention to unify its dual listed company structure is expected to happen in the March 2022 quarter.

BHP’s efforts to make operations more efficient through smart technology adoption across the entire value chain will continue to aid in reducing costs, thereby boosting margins. Focus on lowering debt will fuel growth. Iron ore prices have been down this year due to weak demand in China on account of its intensified curbs on steel production and slowdown across its property sector. This remains a headwind for the company.

Price Performance

Image Source: Zacks Investment Research

Over the last year, BHP’s shares have gained 14.6%, compared with the industry’s rally of 18%.

Zacks Rank & Stocks to Consider

BHP currently carries a Zacks Rank #5 (Strong Sell).

Some better-ranked stocks in the basic materials space are Nucor Corporation NUE and Methanex Corporation MEOH. Both of these stocks sport a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Nucor has an estimated earnings growth rate of 537.4 % for the ongoing year. In a year’s time, the company’s shares have appreciated 109%.

Methanex has a projected earnings growth rate of 409.3% for 2021. The company’s shares have gained 77% in a year.

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(Rewrites with background on deal)

Oct 20 (Reuters) – BHP Group on Wednesday topped a takeover offer for Canadian nickel miner Noront Resources by billionaire Andrew Forrest's Wyloo Metals earlier this week, as the two miners vie for the key battery metal used in electric vehicles (EVs).

The months-long takeover battle highlights the efforts miners are taking to secure supply of key battery metals ahead of an expected EV boom as the world looks to cut emissions.

BHP increased its offer to C$419.3 million ($339.10 million), or C$0.75 per share, bettering the C$0.70 per-share proposal from Wyloo that Noront backed on Monday and giving shareholders of the Canadian firm 22 days to accept.

At stake in the scramble for Noront is the Eagle's Nest nickel asset in Canada's so-called Ring of Fire, a high-grade deposit of the metal, as well as copper and palladium.

Wyloo, Noront's top shareholder, did not immediately respond to a request for comment.

BHP, the world's biggest miner, said while it had Noront's backing for its improved offer, it did not require it and only needed 50% of shares to vote in favour.

Noront also did not respond immediately to a request for comment.

Wyloo had lifted its offer from C$0.315 per share to top a C$0.55 proposal made by BHP in July.

($1 = 1.2365 Canadian dollars) (Reporting by Nikhil Kurian Nainan and Savyata Mishra in Bengaluru; Editing by Aditya Soni and Subhranshu Sahu)

(Bloomberg) — BHP Group, the world’s biggest mining company, has raised its offer for Noront Resources Ltd., trumping a bid from iron ore billionaire Andrew Forrest and securing the support of the Canadian nickel miner’s board.

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The Melbourne-based company increased its bid by 36% to C$0.75 per share, above the C$0.70 offered by Forrest’s Wyloo Metals Pty Ltd.

BHP said the offer, which is open to shareholders until Nov. 9, doesn’t require the support of Wyloo to proceed, even though that company holds about 37% of Noront stock.

Wyloo and BHP have been in a bidding war to gain access to Noront’s high-grade Canadian nickel deposits in a largely untapped region of northern Ontario dubbed the Ring of Fire. Mining heavyweights are racing to control more supplies of raw materials that are key to transitioning to low-carbon energy sources. Nickel is one of the key metals used in lithium-ion batteries for electric vehicles.

“Noront and BHP believe that the offer provides Noront shareholders with the value inherent in Noront’s portfolio of projects without the long-term risks associated with the development and execution of those projects,” BHP said in a media statement.

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Company Also Announces New Head of Lithium Position and Hire

OVERLAND PARK, Kan., October 19, 2021–(BUSINESS WIRE)–Compass Minerals (NYSE: CMP), a leading global provider of essential minerals, today announced the successful, third-party conversion testing of its lithium brine resource into both lithium carbonate and battery-grade lithium hydroxide, representing a significant milestone in its previously announced lithium development project.

The company engaged Veolia Energy, an established technology provider, to conduct lithium chloride to lithium hydroxide conversion testing utilizing a proven, commercially viable conversion process. The company believes this is the first known conversion to battery-grade lithium hydroxide from the sustainable lithium brine resource originating from the Great Salt Lake.

At a concentration of >56.5% lithium hydroxide monohydrate, the conversion sample meets established battery-grade specifications for the U.S. domestic electric vehicle (EV) and energy storage markets. Compass Minerals believes this achievement, and the resulting supply it is expected to help enable, is critical for U.S. domestic production of advanced battery materials and support of a growing domestic EV fleet. As previously disclosed, the company expects to enter the market with a battery-grade lithium hydroxide product by 2025.

"When we first announced the identification of a readily available, 2.4 million ton lithium brine resource, we emphasized that we are evaluating multiple paths forward for development, potential partnerships, and product selection to ensure optimal shareholder value. While that work continues, our progress to date puts us firmly on track for market entry with a battery-grade lithium product by 2025," said Kevin S. Crutchfield, president and CEO. "As we continue to assess potential DLE technology partners and commercial opportunities, we remain committed to responsible stewardship of this exciting and sustainable resource. We look forward to providing future updates as we achieve additional milestones in the coming months."

Compass Minerals also announced today that Chris Yandell will be joining the company as head of lithium, effective Nov. 8, 2021. In this senior management role, Yandell will lead the development and implementation and coordinate the strategic direction for the company’s lithium business.

Yandell brings broad-based leadership experience in operations, commercial, supply-chain and strategic planning, having served the last 15 years in varying roles of increasing responsibility with Albemarle Corporation, a global specialty chemicals company and producer of lithium, bromine and Catalyst solutions. Most recently with Albemarle, he served as chief commercial officer for refining catalysts and previously as vice president of lithium operations. Prior to his time at Albemarle, he served in operations and engineering positions with Praxair, Inc., since acquired by Linde plc, and BASF. A former non-commissioned officer in the U.S. Marine Corps, Yandell earned a Bachelor of Science in chemical engineering and Master of Business Administration, both from Louisiana State University.

"Chris’ specific lithium development expertise, coupled with his proven operational experience, will make a great addition to our team," added Crutchfield. "I have no doubt his leadership will help propel our project forward."

As previously announced, Compass Minerals is targeting an annual production capacity of approximately 20,000 to 25,000 metric tons lithium carbonate equivalent of battery-grade lithium, with up to 65% of the future production derived from brine that has already been extracted from the Great Salt Lake and in varying stages of concentration within the company’s existing ponds at its active Ogden, Utah, solar evaporation site. The company sustainably manages 160,000 acres of leasehold on the bed of the Great Salt Lake, together with held water rights, 55,000 acres of existing ponds and active mineral extraction permissions.

The company is currently undertaking a formal life cycle assessment of various lithium development scenarios with Minviro Ltd. to help quantify any environmental impacts associated with the project and help identify opportunities to further minimize the project’s environmental footprint.

More detailed information on Compass Minerals’ defined lithium resource is available at investors.compassminerals.com.

About Compass Minerals

Compass Minerals (NYSE: CMP) is a leading global provider of essential minerals focused on safely delivering where and when it matters to help solve nature’s challenges for customers and communities. Its salt products help keep roadways safe during winter weather and are used in numerous other consumer, industrial and agricultural applications. And its plant nutrition business manufactures products that improve the quality and yield of crops, while supporting sustainable agriculture. Additionally, its specialty chemical business serves the water treatment industry and other industrial processes. The company operates 15 production and packaging facilities with more than 2,000 employees throughout the U.S., Canada, Brazil and the U.K. Visit compassminerals.com for more information about the company and its products.

Forward Looking Statements and Other Disclaimers

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements about the anticipated development of the lithium resource at the company’s Ogden, Utah, site, including the indicated lithium resource within the ambient brine of the Great Salt Lake, as well as statements about the company’s ability to develop a battery-grade lithium hydroxide product. Forward-looking statements are those that predict or describe future events or trends and that do not relate solely to historical matters. We use words such as "may," "would," "could," "should," "will," "likely," "expect," "anticipate," "believe," "intend," "plan," "forecast," "outlook," "project," "estimate," "target," and similar expressions suggesting future outcomes or events to identify forward-looking statements or forward-looking information. These statements are based on the company’s current expectations and involve risks and uncertainties that could cause the company’s actual results to differ materially. The differences could be caused by a number of factors, including without limitation (i) the company’s ability to convert all or any part of the lithium mineral resource identified by the initial assessment into an economically extractable mineral reserve, including the availability and cost of capital for related capital expenditures and the development of applicable process technologies; (ii) the overall environmental impact of the proposed extraction of the lithium mineral resource, as well as the company’s ability to receive or maintain required operating and environmental permits, approvals, modifications or other authorizations of, or from, governmental or regulatory authorities and costs related to implementing improvements to ensure compliance with regulatory requirements; (iii) the results of the company’s proposed strategic resource assessment regarding the lithium mineral resource; (iv) the company’s ultimate production capacity with respect to LCE; (v) potential weaknesses and uncertainties in global economic conditions, including adverse changes in the overall market for lithium and related products; (vi) the company’s ability to economically produce lithium carbonate and/or battery-grade lithium hydroxide at commercial scale from its lithium brine resource on its expected timeline, or at all; and (vii) the risk that the company may not realize the expected financial or other benefits from the proposed development of the lithium mineral resource. For further information on these and other risks and uncertainties that may affect the company’s business, see the "Risk Factors" and "Management’s Discussion and Analysis of Financial Condition and Results of Operations" sections of the company’s Annual Report on Form 10-K for the year ended December 31, 2020 and the company’s Quarterly Report on Form 10-Q for the quarters ended March 31, 2021 and June 30, 2021 filed (including any amendments) with the SEC, as well as the company’s other SEC filings. The company undertakes no obligation to update any forward-looking statements made in this press release to reflect future events or developments, except as required by law. Because it is not possible to predict or identify all such factors, this list cannot be considered a complete set of all potential risks or uncertainties.

The company has completed an initial assessment to define the lithium resource at Compass Minerals’ existing operations in accordance with applicable SEC regulations, including Subpart 1300. Pursuant to Subpart 1300, mineral resources are not mineral reserves and do not have demonstrated economic viability. The company’s mineral resource estimates, including estimates of the LCE mineral resource, are based on many factors, including assumptions regarding extraction rates and duration of mining operations, and the quality of in-place resources. For example, the process technology for commercial extraction of lithium from brines with low lithium and high impurity (primarily magnesium) is still developing. Accordingly, there is no certainty that all or any part of the LCE mineral resource identified by the initial assessment will be converted into an economically extractable mineral reserve.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211019006130/en/

Contacts

Media Contact Rick AxthelmChief Public Affairs and Sustainability Officer+1.913.344.9198MediaRelations@compassminerals.com

Investor Contact Douglas KrisSenior Director of Investor Relations+1.917.797.4967krisd@compassminerals.com

(Adds details from interview with BHP executive)

Oct 20 (Reuters) – BHP Group Ltd on Wednesday topped a takeover offer for Canadian nickel producer Noront Resources Ltd from billionaire Andrew Forrest's Wyloo Metals, as the two groups vie for greater access to the electric vehicle battery metal.

BHP, the world's biggest mining company, increased its all-cash offer to C$419.3 million ($339.1 million), or C$0.75 per share, bettering the C$0.70 per-share proposal from Wyloo that Noront backed on Monday

Wyloo, already Noront's top shareholder, this week lifted its offer from C$0.315 per share to top a C$0.55 proposal made by BHP in July.

At stake in the scramble for Noront is the Eagle's Nest nickel asset in Canada's so-called Ring of Fire, a high-grade deposit of the metal, as well as copper and palladium.

"We like the geology of the area, and Noront has the best land position in that area," Johan van Jaarsveld, BHP's chief development officer, told Reuters.

BHP gave shareholders of the Canadian firm 22 days to accept its latest offer.

The company, which earlier this year signed a deal to supply Tesla https://www.reuters.com/business/bhp-supply-nickel-tesla-australia-2021-07-21 Inc with nickel from its Australian operations, does not plan to build a Canadian smelter to process Noront's nickel and won't limit nickel sales from the project to North America, he said.

Should BHP's offer prevail, the mine would be run completely on renewable electricity, van Jaarsveld said.

"We certainly have the operating track record in nickel and the ability to build infrastructure in remote areas," he said, adding that BHP would be open to developing the asset jointly "with the right partner".

Neither privately held Wyloo nor Noront immediately responded to a request for comment.

BHP's offer requires at least 50% of Noront shareholders to tender in support, while Wyloo's offer would require a shareholder vote.

If Noront shareholders support BHP's offer, "this could all be over by mid-November," van Jaarsveld said.

($1 = 1.2365 Canadian dollars)

(Reporting by Nikhil Kurian Nainan and Savyata Mishra in Bengaluru, and Ernest Scheyder in Houston; Editing by Aditya Soni, Subhranshu Sahu and Jan Harvey)

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says 'The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.' It's only natural to consider a company's balance sheet when you examine how risky it is, since debt is often involved when a business collapses. We note that Gem Diamonds Limited (LON:GEMD) does have debt on its balance sheet. But the real question is whether this debt is making the company risky.

When Is Debt A Problem?

Debt and other liabilities become risky for a business when it cannot easily fulfill those obligations, either with free cash flow or by raising capital at an attractive price. Part and parcel of capitalism is the process of 'creative destruction' where failed businesses are mercilessly liquidated by their bankers. However, a more frequent (but still costly) occurrence is where a company must issue shares at bargain-basement prices, permanently diluting shareholders, just to shore up its balance sheet. Of course, plenty of companies use debt to fund growth, without any negative consequences. The first step when considering a company's debt levels is to consider its cash and debt together.

View our latest analysis for Gem Diamonds

How Much Debt Does Gem Diamonds Carry?

The image below, which you can click on for greater detail, shows that Gem Diamonds had debt of US$14.7m at the end of June 2021, a reduction from US$23.6m over a year. But it also has US$33.9m in cash to offset that, meaning it has US$19.2m net cash.

A Look At Gem Diamonds' Liabilities

We can see from the most recent balance sheet that Gem Diamonds had liabilities of US$43.1m falling due within a year, and liabilities of US$112.0m due beyond that. Offsetting these obligations, it had cash of US$33.9m as well as receivables valued at US$6.55m due within 12 months. So its liabilities total US$114.6m more than the combination of its cash and short-term receivables.

This is a mountain of leverage relative to its market capitalization of US$116.4m. Should its lenders demand that it shore up the balance sheet, shareholders would likely face severe dilution. Despite its noteworthy liabilities, Gem Diamonds boasts net cash, so it's fair to say it does not have a heavy debt load!

Even more impressive was the fact that Gem Diamonds grew its EBIT by 406% over twelve months. If maintained that growth will make the debt even more manageable in the years ahead. There's no doubt that we learn most about debt from the balance sheet. But it is future earnings, more than anything, that will determine Gem Diamonds's ability to maintain a healthy balance sheet going forward. So if you're focused on the future you can check out this free report showing analyst profit forecasts.

Finally, while the tax-man may adore accounting profits, lenders only accept cold hard cash. Gem Diamonds may have net cash on the balance sheet, but it is still interesting to look at how well the business converts its earnings before interest and tax (EBIT) to free cash flow, because that will influence both its need for, and its capacity to manage debt. In the last three years, Gem Diamonds created free cash flow amounting to 4.2% of its EBIT, an uninspiring performance. That limp level of cash conversion undermines its ability to manage and pay down debt.

Summing up

Although Gem Diamonds's balance sheet isn't particularly strong, due to the total liabilities, it is clearly positive to see that it has net cash of US$19.2m. And it impressed us with its EBIT growth of 406% over the last year. So we don't have any problem with Gem Diamonds's use of debt. There's no doubt that we learn most about debt from the balance sheet. However, not all investment risk resides within the balance sheet – far from it. Be aware that Gem Diamonds is showing 2 warning signs in our investment analysis , and 1 of those shouldn't be ignored…

When all is said and done, sometimes its easier to focus on companies that don't even need debt. Readers can access a list of growth stocks with zero net debt 100% free, right now.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

MELBOURNE, Australia, October 18, 2021–(BUSINESS WIRE)–Rio Tinto welcomes the final report of the Joint Standing Committee on Northern Australia following its inquiry into the destruction of rock shelters at Juukan Gorge on the land of the Puutu Kunti Kurrama and Pinikura people (PKKP) in the Pilbara region of Western Australia.

Rio Tinto Chief Executive Jakob Stausholm said "We have been working hard to rebuild trust and meaningful relationships with the PKKP people and other Traditional Owners. Rio Tinto is absolutely committed to listening, learning and showing greater care, and this remains a top priority.

"We know this will take time and there will be challenges ahead, but we are focused on improving our engagement with Indigenous Peoples and our host communities to better understand their priorities and concerns, minimise our impacts, and responsibly manage Indigenous cultural heritage in and around our operations."

Following Rio Tinto’s Board Review of Cultural Heritage Management in August 2020, the company has introduced several changes to ensure heritage sites of exceptional significance, like the Juukan Gorge rock shelters, are protected and preserved.

Rio Tinto has also worked to address the recommendations made in the Committee’s interim report in December 2020 that weren’t addressed in the Board’s recommendations.

A comprehensive summary of the actions taken to strengthen heritage protection, restore trust with Traditional Owners, and drive cultural change within the business was outlined in last month’s Communities and Social Performance (CSP) Commitment Disclosure Interim Report.

The work being undertaken by Rio Tinto includes:

• Working closely with the PKKP on the ongoing remediation of the Juukan Gorge rock shelters.

• Undertaking a detailed review to ensure there are no other sites of exceptional cultural significance within the company’s existing mine plans. To date, Rio Tinto has reviewed 2,205 heritage sites.

• Commencing agreement modernisation discussions with ten Pilbara Traditional Owner groups and their representatives;

• Committing to work with Traditional Owner groups to co-design and implement leading practice cultural heritage management;

• Progressing the establishment of an Australian Advisory Group to inform policies and positions important to Indigenous Australians and the business;

• Building social performance capacity, capability and governance across the company. Across 60 sites in 35 countries, Rio Tinto now has more than 300 professionals working in Communities and Social Performance, up 20 per cent on last year.

As well as its overhaul of cultural heritage management and work to rebuild relationships with Traditional Owners, Rio Tinto is working to drive cultural change at every level of the business.

This includes important steps to grow Indigenous leadership, with $50 million invested to retain, attract and grow Indigenous professionals and leaders in Rio Tinto’s Australian business.

In Australia, all frontline Rio Tinto staff are undertaking cultural awareness training, with face-to-face training or e-learning with Indigenous Australians.

Rio Tinto Chief Executive, Australia, Kellie Parker said "Our determination not to repeat the events leading up to the destruction of the Juukan Gorge rock shelters is ingrained in everything we do.

"Significant changes have been made at all levels of our business and this is continuing. While we are confident we have put in place the right foundations for a better future, we know we will be judged by our actions and we are determined to get it right. The important work of the Committee has helped reinforce our priorities as we work to rebuild trust.

"We will continue to work in close consultation with Traditional Owners to better understand and protect their cultural heritage and ensure future mining activity is done in the right way, to create meaningful social and economic benefits.

"We thank the PKKP people and Traditional Owners everywhere for their engagement as we continue this vital work."

View source version on businesswire.com: https://www.businesswire.com/news/home/20211017005075/en/

Contacts

Media Relations, UK

Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Americas

Matthew Klar
T +1 514 608 4429

Investor Relations, UK

Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Media Relations, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Investor Relations, Australia

Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto plc

6 St James’s Square
London SW1Y 4AD
United Kingdom

T +44 20 7781 2000
Registered in England
No. 719885

Rio Tinto Limited

Level 7, 360 Collins Street
Melbourne 3000
Australia

T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

riotinto.com

Vancouver, British Columbia–(Newsfile Corp. – October 18, 2021) – Lara Exploration Ltd. (TSXV: LRA) is pleased to report that widespread significant copper and silver mineralisation has been outlined by Valor Resources Ltd. (ASX: VAL) at the Picha Project in Southern Peru. Lara holds a 2% NSR royalty on any precious metals produced and a 1% NSR on copper and any other metals produced from the property.

Valor reported on October 11, 2021 that it has a program of surface mapping and sampling underway, with 144 sample results received and a further 150 expected in the coming weeks, from three target areas: Cobremani, Maricate and Cumbre Coya. Highlights from the sample results received to date include:

• 35.6m long channel sample averaging 1.3% Cu and 22.85g/t Ag at Cobremani;

• 10m long channel sample averaging 1.09% Cu and 6.36g/t Ag at Cobremani;

• Several samples >1% Cu and up to 13.4% Cu at the Maricate target area;

• High-grade copper mineralization at Maricate over 1km in extent

Valor notes in its release that upon completion of the current field program, ground geophysics and drilling is planned as follow-up.

Michael Bennell, Lara's Vice President Exploration and a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM), is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects and has approved the technical disclosure and verified the technical information in this news release.

About Lara Exploration

Lara is an exploration company following the Prospect and Royalty Generator business model, which aims to minimize shareholder dilution and financial risk by generating prospects and exploring them in joint ventures funded by partners, retaining a minority interest and or a royalty. The Company currently holds a diverse portfolio of prospects, deposits and royalties in Brazil, Peru and Chile. Lara's common shares trade on the TSX Venture Exchange under the symbol "LRA".

For further information on Lara Exploration Ltd. please consult our website www.laraexploration.com, or contact Chris MacIntyre, VP Corporate Development, at +1 416 703 0010.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada
accepts responsibility for the adequacy or accuracy of this release.

-30-

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/99696

(Bloomberg) — Canadian miner Noront Resources Ltd. agreed to be acquired by Andrew Forrest’s Wyloo Metals Pty Ltd. in a deal that tops a rival offer from BHP Group.

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Noront agreed to Wyloo’s “superior” offer of C$0.70 a share, which represents a 27% premium to BHP’s friendly offer of C$0.55 from July, the Toronto-based company said Monday in a statement. BHP has been given five business days to match the offer from the firm controlled by Forrest, an Australian mining magnate.

Shares of Noront fell 6.2% to C$0.76 at 9:55 a.m. in trading in Toronto.

Wyloo and BHP have been in a bidding war to gain access to Noront’s high-grade Canadian nickel deposits in a largely untapped region of northern Ontario dubbed the Ring of Fire. Mining heavyweights are racing to control more supplies of raw materials that are key to transitioning to low-carbon energy sources. Nickel is one of the key metals used in lithium-ion batteries for electric vehicles.

Wyloo already owned about 24% of Noront’s stock and took further steps last month to lift its stake to 37.3% by swapping convertible debt into common shares. Wyloo said in August that its unsolicited proposal was more likely to succeed because it owns a chunk of Noront shares and doesn’t intend to support BHP’s offer. The deal values Noront at about C$321 million ($259 million), based on approximately 458.5 million shares outstanding as of July 31.

Noront’s main asset is the Eagle’s Nest deposit in Ontario, whose mineral wealth includes nickel, copper, chromite and zinc.

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©2021 Bloomberg L.P.

In this article, we discuss the top 10 dividend stock picks of billionaire Ken Fisher. If you want to skip our detailed analysis of these stocks, go directly to Billionaire Ken Fisher’s Top 5 Dividend Stock Picks.

Ken Fisher is one of the most well-known hedge fund managers on Wall Street. The portfolio of his hedge fund, Fisher Asset Management, was more than $159 billion at the end of June 2021 with the top holdings concentrated in the technology, healthcare, and financial sectors. The top ten holdings comprise over 31% of the entire portfolio. According to the latest filings, the portfolio value of the fund jumped over 18% billion between March and June this year. Fisher has a personal net worth of more than $6 billion.

During the second quarter, the billionaire, through his hedge fund, made new purchases in 86 stocks, bought additional stakes in 376, sold out of 76, and reduced holdings in 417 stocks. Over the years, Fisher has championed an investment strategy that compares the share price against expectations of growth, making handsome returns in the process. His dividend stocks picks have especially outshone the market, making him a legend in the value investing universe even though his portfolio is growth heavy.

Some of the top dividend stock picks in the Fisher Asset Management portfolio at the end of the second quarter of 2021 included The Home Depot, Inc. (NYSE:HD), Caterpillar Inc. (NYSE:CAT), and Walmart Inc. (NYSE:WMT), among others discussed in detail below. The returns of the hedge fund led by Fisher have consistently beat market benchmarks like the S&P 500 over the past few years, earning Fisher cult-like status on Wall Street and indeed around the world.

Our Methodology

With this context in mind, here is our list of the top 10 dividend stock picks of billionaire Ken Fisher. These were picked from the investment portfolio of Fisher Asset Management at the end of the second quarter of 2021.

The list is compiled according to the value of each holding in the portfolio of Fisher Asset Management. The hedge fund sentiment around each stock was gauged using the data of 873 hedge funds tracked by Insider Monkey.

Why pay attention to hedge fund holdings? Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 86 percentage points since March 2017. Between March 2017 and July 2021 our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by more than 86 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

Billionaire Ken Fisher’s Top Dividend Stock Picks

10. 3M Company (NYSE:MMM)

Number of Hedge Fund Holders: 42

Forward Dividend Yield: 3.25%

Analysts have been bullish on 3M Company (NYSE:MMM) stock since the company posted strong earnings for the second quarter in late July. Advisory Langenberg recently upgraded the stock to Buy from Hold with a price target of $210. Wells Fargo had initiated the stock at Equal Weight with a $179 target on October 7. The company smashed market expectations on earnings per share and revenue in the second quarter by $0.31 and $360 million respectively.

According to 13F filings, Fisher Asset Management owned 5.3 million shares in 3M Company (NYSE:MMM) worth over $1 billion at the end of the second quarter of 2021, representing 0.67% of the portfolio of the fund.

Out of the hedge funds being tracked by Insider Monkey, Connecticut-based investment firm AQR Capital Management is a leading shareholder in 3M Company (NYSE:MMM) with 1.1 million shares worth more than $235 million.

Just like The Home Depot, Inc. (NYSE:HD), Caterpillar Inc. (NYSE:CAT), and Walmart Inc. (NYSE:WMT), 3M Company (NYSE:MMM) is one of the dividend stocks attracting the attention of elite investors.

9. JPMorgan Chase & Co. (NYSE:JPM)

Number of Hedge Fund Holders: 108

Forward Dividend Yield: 2.40%

JPMorgan Chase & Co. (NYSE:JPM) is one of the most trusted names in the banking sector and many elite investors have bullish views on the stock. The company has strong fundamentals and recently had stock price targets raised at advisors like BMO Capital, Credit Suisse, Jefferies and Barclays. The company beat market expectations on revenue in the third quarter by $0.74.

According to the latest data, Fisher Asset Management owned 6.9 million shares in JPMorgan Chase & Co. (NYSE:JPM) at the end of June 2021 worth more than $1 billion, representing 0.67% of the portfolio of the fund.

Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in JPMorgan Chase & Co. (NYSE:JPM) with 6.9 million shares worth more than $1 billion.

In addition to The Home Depot, Inc. (NYSE:HD), Caterpillar Inc. (NYSE:CAT), and Walmart Inc. (NYSE:WMT), JPMorgan Chase & Co. (NYSE:JPM) is one of the dividend stocks that hedge funds are buying.

In its Q4 2020 investor letter, Bretton Fund, an asset management firm, highlighted a few stocks and JPMorgan Chase & Co. (NYSE:JPM) was one of them. Here is what the fund said:

8. Rio Tinto Group (NYSE:RIO)

Number of Hedge Fund Holders: 21

Forward Dividend Yield: 9.73%

Mining stocks have soared as iron ore prices skyrocket amid a crackdown against the mining industry in China and increased demand for the metal in the post-pandemic economy. Rio Tinto Group (NYSE:RIO), a mining firm based in the United Kingdom, has benefited from this environment. Exane BNP Paribas analyst Sylvain Brunet recently upgraded the stock to Outperform from Neutral with a price target of GBP5,630.

Securities filings reveal that Fisher Asset Management owned 12.9 million shares in Rio Tinto Group (NYSE:RIO) at the end of the second quarter of 2021 worth over $1 billion, representing 0.68% of the portfolio of the fund.

Out of the hedge funds being tracked by Insider Monkey, Boston-based investment firm Arrowstreet Capital is a leading shareholder in Rio Tinto Group (NYSE: RIO) with 1.8 million shares worth more than $156 million.

Along with The Home Depot, Inc. (NYSE:HD), Caterpillar Inc. (NYSE:CAT), and Walmart Inc. (NYSE:WMT), Rio Tinto Group (NYSE:RIO) is one of the dividend stocks on the radar of institutional investors.

7. UnitedHealth Group Incorporated (NYSE:UNH)

Number of Hedge Fund Holders: 105

Forward Dividend Yield: 1.35%

Although most biotech stocks operate in the high-growth domain, UnitedHealth Group Incorporated (NYSE:UNH) is one healthcare firm that has made a name for itself in the value investing universe. The company recently smashed market predictions on earning per share and revenue in the third quarter, raising guidance numbers and prompting price target raises from Evercore ISI and Credit Suisse.

Regulatory filings show that Fisher Asset Management owned more than 2.8 million in UnitedHealth Group Incorporated (NYSE:UNH) at the end of June 2021 worth $1.1 billion, representing 0.71% of the portfolio of the fund.

At the end of the second quarter of 2021, 105 hedge funds in the database of Insider Monkey held stakes worth $13 billion in UnitedHealth Group Incorporated (NYSE:UNH), up from 89 in the preceding quarter worth $12 billion.

The Home Depot, Inc. (NYSE:HD), Caterpillar Inc. (NYSE:CAT), and Walmart Inc. (NYSE:WMT) are some of the top dividend stocks to buy now, just like UnitedHealth Group Incorporated (NYSE:UNH).

In its Q2 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and UnitedHealth Group Incorporated (NYSE:UNH) was one of them. Here is what the fund said:

6. Oracle Corporation (NYSE:ORCL)

Number of Hedge Fund Holders: 55

Forward Dividend Yield: 1.34%

Oracle Corporation (NYSE:ORCL) is another stock in the growth stock domain that features high on the dividend stock list of Ken Fisher, primarily because of the solid user base of the firm and the reputation of steady earnings growth it has developed over the years. Earlier this month, the company announced that it would be opening 14 cloud regions across the world to support demand for the Oracle Cloud in regions like the Middle East and Latin America.

Fisher Asset Management owned more than 14.8 million shares in Oracle Corporation (NYSE:ORCL) at the end of the second quarter of 2021 worth over $1.1 billion, representing 0.72% of the portfolio of the fund.

At the end of the second quarter of 2021, 55 hedge funds in the database of Insider Monkey held stakes worth $2.8 billion in Oracle Corporation (NYSE:ORCL), up from 52 in the preceding quarter worth $2.8 billion.

The Home Depot, Inc. (NYSE:HD), Caterpillar Inc. (NYSE:CAT), and Walmart Inc. (NYSE:WMT) are some of the elite dividend stocks to buy now, just like Oracle Corporation (NYSE:ORCL).

Here is what Ariel Investments has to say about Oracle Corporation (NYSE:ORCL) in its Q1 2021 investor letter:

Click to continue reading and see Billionaire Ken Fisher’s Top 5 Dividend Stock Picks.

Suggested Articles:

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Disclosure. None. Billionaire Ken Fisher’s Top 10 Dividend Stock Picks is originally published on Insider Monkey.

MELBOURNE, Australia, October 18, 2021–(BUSINESS WIRE)–Peter Toth, Group executive, Strategy and Development, has accepted a new position outside of Rio Tinto.

Rio Tinto Chief Executive Jakob Stausholm said "During Peter’s seven years with Rio Tinto, he has played a key role in shaping our corporate strategy, executing our portfolio restructure, and guiding our approach to climate change. We thank him for his contribution and wish him every success for the future."

Peter has stepped down from the Group’s executive committee with immediate effect and his responsibilities will be divided between current executives. He will remain in an advisory role until the end of 2021 and leave the company on 5 April 2022.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211018006012/en/

Contacts

Please direct all enquiries to media.enquiries@riotinto.com

Media Relations, UK
Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Americas
Matthew Klar
T +1 514 608 4429

Investor Relations, UK
Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Rio Tinto plc
6 St James’s Square
London SW1Y 4AD
United Kingdom
T +44 20 7781 2000
Registered in England
No. 719885

Media Relations, Australia
Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Investor Relations, Australia
Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto Limited
Level 7, 360 Collins Street
Melbourne 3000
Australia
T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

This announcement is authorised for release to the market by Steve Allen, Rio Tinto’s Group Company Secretary.

riotinto.com

Category: General

VANCOUVER, British Columbia, Oct. 18, 2021 (GLOBE NEWSWIRE) — Great Quest Fertilizer Ltd (TSXV: GQ) (“Great Quest” or “the Company”) is pleased to provide an update for shareholders. The Company is mobilizing in Mali to resume work on the Sanoukou project. Work will concentrate on a geophysical program with the goal of prospecting the areas between the continuous structures and auger drilling of geophysical anomalies superimposed on geochemical anomalies, in conjunctions with efforts to pursue small scale production on the property.

The Company has received confirmation that the process of renewing the Sanoukou permit is ongoing. The first step of the renewal process has been completed at National Department of Geology and Mines. The draft permit decree has been elaborated and submitted for the approval and signature of the Minister, consequently the decree of permit renewal is expected in the upcoming weeks. It should be understood that the delay in the reissuance of this permit to the dispositions of the mining code in force is likely due to the constraints of the provisional government and the complications resulting from the COVID-19 pandemic. In consequence, management is now willing to resume field work.

Sanoukou Gold Project

This property has long been considered one of the premier targets along Mali’s Western Gold Belt. Significant high-quality exploration work has been done on the property and artisanal work completed in recent years has revealed evidence of extensive high-grade mineralization which indicates that there is potentially a substantive upside to past exploration.

In excess of US$3 million has been invested in exploration work at Sanoukou; highlights of that work include drill hole SN02, completed by Great Quest (3.4m of 3.2 g/t gold drilled in 2011), and RAB18 (3m at 5.0 g/t gold), RAB53 (19m of 2.6 g/t gold drilled in 2006 by SOMIFIM). Great Quest completed a review of the geology exposed by artisanal work in recent years which indicated that prior drilling may have missed the main structures (see press release dated July 28, 2010). Sampling of the artisanal workings has shown some very high-grade results with 34 samples grading between 0.6 g/t and 24.9 g/t gold (see press release dated September 30, 2013).

Jed Richardson, President and CEO, commented, “Work is scheduled to begin in earnest towards the end of November at the end of the rainy season. As we closely watch the geopolitical situation in Mali developing, the Company has been active in building relationships and identifying prospective development in projects in the country of Morocco, a stable and highly prospective jurisdiction where our management team has extensive knowledge, contacts and experience.”

Mr. Diner (P.Geol.) has approved the contents of this News Release in relation to the Sanoukou Project. Jed Diner (M.Sc., P.Geol.) is a Qualified Person (QP) pursuant to NI 43-101.

About Great Quest

Great Quest Fertilizer Ltd. is a Canadian mineral exploration company focused on the development of African gold projects. The Company’s flagship asset is the Sanoukou Gold Project, encompassing 24 km² located in the Kayes region to the West of Mali and developing the Tilemsi Phosphate Project a 1,206 km² parcel in northeastern Mali, containing high quality phosphate resources amenable to use as direct application fertilizer. Great Quest is listed on the TSX Venture Exchange under the symbol GQ, and the Frankfurt Stock Exchange under the symbol GQM.

————————————————————————————————————

ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST FERTILIZER LTD.

“Jed Richardson”
President, Chief Executive Officer and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements. These statements include statements regarding the Sanoukou Gold Project and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

CONTACT: For more information: Please contact Jed Richardson by email at info@greatquest.com

MELBOURNE, Australia, October 17, 2021–(BUSINESS WIRE)–Rio Tinto has announced a new three-year partnership with Telethon aimed at improving the health and wellbeing of children in Western Australia.

The partnership, which follows a $4 million donation in 2020, starts with a new $4 million donation delivered over this Telethon weekend and continues with $4 million each year to 2023,to support further research into mental health and juvenile diabetes.

This year, Rio Tinto’s $4 million donation will be distributed between three important health initiatives, The Rio Tinto Diabetes Global Research Centre, Embrace @ Telethon Kids Institute, and The Telethon Trust.

The donation to The Rio Tinto Diabetes Global Research Centre will support critical research into Type One diabetes to improve the lives of those living with the condition, the effects of which last long beyond childhood.

Funding delivered to Embrace @ Telethon Kids Institute over the next three years will enable Embrace to grow ‘big ideas’ and provide seed funding to build the state’s first research centre devoted to the mental health of children and young people.

The partnership will also deliver vital funds to the Telethon Trust, which distributes grants annually to a range of not for profit organisations that help transform the lives of WA children.

Rio Tinto Iron Ore Chief Executive, Simon Trott said, "Rio Tinto is delighted to be partnering with Telethon to help deliver critical research and initiatives that will improve the wellbeing of kids all across the state.

"Telethon is an iconic Western Australian charity event and Rio Tinto and its entire workforce is really proud to support this wonderful cause.

"We’re proud that this donation will help important children’s charities and amazing medical research into diabetes and mental health for our young people."

View source version on businesswire.com: https://www.businesswire.com/news/home/20211017005038/en/

Contacts

Please direct all enquiries to media.enquiries@riotinto.com

Media Relations, Australia
Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Jamie Macdonald
M +61 467 725 517

Kate Barcham
M +61 438 990 238

Rio Tinto plc
6 St James’s Square
London SW1Y 4AD
United Kingdom

T +44 20 7781 2000
Registered in England
No. 719885

Rio Tinto Limited
Level 7, 360 Collins Street
Melbourne 3000
Australia

T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

riotinto.com

Category: Pilbara

Unfortunately, investing is risky – companies can and do go bankrupt. But when you pick a company that is really flourishing, you can make more than 100%. For example, the Intrepid Potash, Inc. (NYSE:IPI) share price has soared 295% in the last 1 year. Most would be very happy with that, especially in just one year! It's also good to see the share price up 41% over the last quarter. The longer term returns have not been as good, with the stock price only 14% higher than it was three years ago.

Since the stock has added US$84m to its market cap in the past week alone, let's see if underlying performance has been driving long-term returns.

See our latest analysis for Intrepid Potash

In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).

Intrepid Potash went from making a loss to reporting a profit, in the last year.

When a company is just on the edge of profitability it can be well worth considering other metrics in order to more precisely gauge growth (and therefore understand share price movements).

However the year on year revenue growth of 9.4% would help. We do see some companies suppress earnings in order to accelerate revenue growth.

You can see below how earnings and revenue have changed over time (discover the exact values by clicking on the image).

We know that Intrepid Potash has improved its bottom line lately, but what does the future have in store? So it makes a lot of sense to check out what analysts think Intrepid Potash will earn in the future (free profit forecasts).

A Different Perspective

It's nice to see that Intrepid Potash shareholders have received a total shareholder return of 295% over the last year. That's better than the annualised return of 31% over half a decade, implying that the company is doing better recently. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. For example, we've discovered 2 warning signs for Intrepid Potash that you should be aware of before investing here.

If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: insiders have been buying them).

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on US exchanges.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

Mosaic (MOS) closed at $41.47 in the latest trading session, marking a +0.19% move from the prior day. The stock lagged the S&P 500's daily gain of 0.75%.

Prior to today's trading, shares of the fertilizer maker had gained 22.64% over the past month. This has outpaced the Basic Materials sector's gain of 1% and the S&P 500's loss of 0.05% in that time.

MOS will be looking to display strength as it nears its next earnings release, which is expected to be November 1, 2021. In that report, analysts expect MOS to post earnings of $1.68 per share. This would mark year-over-year growth of 630.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.83 billion, up 60.82% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.93 per share and revenue of $12.54 billion. These totals would mark changes of +480% and +44.5%, respectively, from last year.

Any recent changes to analyst estimates for MOS should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.44% higher. MOS is holding a Zacks Rank of #2 (Buy) right now.

In terms of valuation, MOS is currently trading at a Forward P/E ratio of 8.39. For comparison, its industry has an average Forward P/E of 14.33, which means MOS is trading at a discount to the group.

We can also see that MOS currently has a PEG ratio of 1.2. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Fertilizers industry currently had an average PEG ratio of 1.5 as of yesterday's close.

The Fertilizers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 24, which puts it in the top 10% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
The Mosaic Company (MOS) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.

Mining giant Rio Tinto is being hit by labour shortages in Australia and has been forced to downgrade its production expectations.

The company said that it expects to ship between 320 million and 325 million tonnes of iron ore from its Pilbara operations.

Rio Tinto has 16 iron mines and employs 13,600 people in the area, in Western Australia north of Perth.

These sites were previously expected to ship “at the low end” of 325 million to 340 million tonnes.

The company said that it had been delayed finishing a new mine and doing up an old one because of a lack of staff in the region because Australian state borders are closed.

It has been another difficult quarter operationally and despite improving versus the prior quarter, we recognise the opportunity to raise our performance

Jakob Stausholm, chief executive

“The tight labour market in Western Australia continues to limit our access to labour and we have also experienced delays due to a tight global supply chain,” it said.

Costs at Pilbara are also rising due to freight, diesel and labour rates, as well as the added costs of ensuring staff get vaccinated.

Production in Canada was also hit due to problems getting hold of enough staff and equipment, while labour shortages are also hitting Mongolia

“It has been another difficult quarter operationally and despite improving versus the prior quarter, we recognise the opportunity to raise our performance. We have consequently modestly adjusted our guidance,” said chief executive Jakob Stausholm.

He added: “We are progressing against our four pillars and striving to make Rio Tinto even stronger, notably to become the best operator.

“This will ensure we continue to deliver attractive returns to shareholders, invest in sustaining and growing our portfolio, and make a broader contribution to society, particularly in relation to the drive to net-zero carbon emissions.”

Labour and supply chain shortages have impacted many businesses around the world in recent months, as the economy sprung back into action following Covid.

In the UK, shortages of lorry drivers and a rise in gas prices due to booming international demand have been some of the most obvious impacts.

Shares in Rio Tinto had dipped by 1.9% early on Friday morning, making it the second worst performer on London’s FTSE 100.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, Oct. 15, 2021 (GLOBE NEWSWIRE) — Arena Minerals Inc. ("Arena" or the "Company") (TSX-V: AN) is pleased to announce that it has closed the second and final tranche of its $10 million subscription receipts private placement announced July 12, 2021.

William Randall, President and Chief Executive Officer of the Company, commented, “Given the continued international interest in the Pastos Grandes basin, closing this second and final tranche is a key step, as it provides Arena with funds to initiate an aggressive resource definition drill program. The Sal de la Puna Project is a key claim block in the basin, not only its lithium brine resource potential and extensive land position, but also its potential large freshwater resources. Along with our partners Ganfeng Lithium, we are in the final stages of planning our upcoming drill program and will be communicating the commencement of exploration activities in the near future.”

Private Placement

The Company has closed the second and final tranche of its private placement announced on July 12, 2021. In the first tranche, which closed and was announced on July 26, 2021, the Company issued 42,857,143 units to Lithium Americas Corporation ("Lithium Americas") (TSX: LAC; NYSE: LAC) for aggregate consideration of $6 million. In the second and final tranche, the Company issued a total of 28,571,428 units for an aggregate consideration of $4 million including 26,678,571 units to GFL International Co. Ltd., a subsidiary of Ganfeng Lithium Co., Ltd. (“Ganfeng Lithium”) (1772.HK; OTCQX: GNENF), for a further consideration of $3.735 million.

Post closing of this placement, Lithium Americas held 42,857,143 common shares and 21,428,571 warrants, and Ganfeng Lithium held 66,226,146 common shares and 33,113,072 warrants. The common shares, warrants and any shares issued upon the exercise of the warrants (the “Placement Securities”) issued to Lithium Americas in the first tranche closing are subject to a hold period ending on November 27, 2021. The Placement Securities issued or issuable to Ganfeng Lithium pursuant to the second closing are subject to a four month hold period expiring on February 15, 2022.

Sal de la Puna Joint-Venture

Arena and Ganfeng Lithium have entered into a joint venture for the exploration and development of the Sal de la Puna project, holding 65% and 35%, respectively, in a newly incorporated joint venture company through which the project is held. Ganfeng Lithium contributed USD $7,789,055 to acquire its stake in the joint venture through the exercise of its right to acquire a 35% interest in any project acquired by Arena (see Arena’s news release of February 4, 2021). The joint venture agreement provides for the funding of the project by the parties in proportion to their respective interests, which interests are subject to adjustment in the event that a party does not contribute its share of such funding. The joint venture company has a board comprised of two nominees of Arena and one nominee of Ganfeng, and a management committee comprised of two representatives of each shareholder, who are entitled to vote in proportion to the shares held by their nominating shareholders. As long as a shareholder holds at least 20% of the joint venture company’s shares, unanimous management committee approval is required for a variety of matters relating to the business of the joint venture company, including the approval of or any changes to budgets or work programs, the replacement of the operator, and various significant transactions, major expenditures, or changes to the joint venture company or its business.

Corporate Matters

The Company has engaged OGIB Corporate Bulletin Ltd and Bull Markets Media GmbH to provide investor awareness services.

About Arena Minerals Inc.

Arena owns 65% of the Sal de la Puna Project covering approximately 11,000 hectares of the Pastos Grandes basin located in Salta, Argentina. The claims are highly prospective and share the basin with two advanced lithium brine projects. In addition to Sal de la Puna, the Company owns the Antofalla lithium brine project in Argentina, consisting of four claims covering a total of 6,000 hectares of the central portion of Salar de Antofalla, located immediately south of Albemarle Corporation's Antofalla project. Arena has developed a proprietary brine processing technology using brine type reagents derived from the Antofalla project with the objective of producing more competitive battery grade lithium products.

Arena also owns 80 percent of the Atacama Copper property within the Antofagasta region of Chile, and 5.8 million shares of Astra Exploration. The projects are at low altitudes, within producing mining camps in infrastructure-rich areas, located in the heart of Chile's premier copper mining district.

To view our website, please visit www.arenaminerals.com. In addition to featuring information regarding the Company, its management, and projects, the site also contains the latest corporate news, a long form text explaining the unique business model of the Company (under the tab "the Company Explained") and an email registration allowing subscribers to receive news and updates directly.

For more information, contact William Randall, President and CEO, at +1-416-818-8711 or wrandall@arenaminerals.com.

On behalf of the Board of Directors of: Arena Minerals Inc.

William Randall, President and CEO

Cautionary Note Regarding Accuracy and Forward-Looking Information

This news release may contain forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements, projections and estimates relating to the future development of any of the Company's properties, the anticipating timing with respect to private placement financings, the ability of the Company to complete private placement financings, results of the exploration program, future financial or operating performance of the Company, its subsidiaries and its projects, the development of and the anticipated timing with respect to the Atacama project in Chile, the Antofalla, Hombre Muerto or Pocitos Projects in Argentina, and the Company's ability to obtain financing. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The statements made herein are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of the Company's interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Estimates underlying the results set out in this news release arise from work conducted by the previous owners and the Company. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the annual information form of the Company. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Arena Minerals does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

Not for distribution to United States newswire services or for dissemination in the United States

VANCOUVER, British Columbia, Oct. 13, 2021 (GLOBE NEWSWIRE) — American Lithium Corp. (“American Lithium” or the “Company”) (TSX-V:LI) (OTCQB:LIACF) (Frankfurt:5LA1) is pleased to announce that it has entered into an agreement with Eight Capital, on behalf of a syndicate of agents including Echelon Wealth Partners Inc. and TD Securities Inc., as co-lead agents and joint bookrunners (together the “Agents”) pursuant to which the Corporation has launched a private placement of up to 7,548,000 units (the “Units”), at an offering price of $2.65 per Unit (the “Issue Price”), for aggregate gross proceeds of up to $20,002,200 (the “Offering”).

Each Unit will be comprised of one common share in the capital of the Company (a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Share at an exercise price of $4.00 per Share, for a period of 24 months following the closing of the Offering.

The Corporation has also granted the Agents an option to offer for sale up to an additional 1,887,000 Units at the Issue Price, exercisable at any time until 48 hours prior to Closing, to cover over-allotments, if any.

The gross proceeds of the Offering will be used for exploration and development of the Company’s TLC Project, Falchani Project and the Macusani Project, and for working capital and general corporate purposes.

The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

The Offering is scheduled to close on or about November 3, 2021 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including that of the TSX Venture Exchange. All securities to be issued in connection with the Offering will be subject to a statutory hold period expiring four-months-and-one-day following closing of the Offering.

About American Lithium

American Lithium, a member of the TSX Venture 50, is actively engaged in the acquisition, exploration and development of lithium projects within mining-friendly jurisdictions throughout the Americas. The Company is currently focused on enabling the shift to the new energy paradigm through the continued exploration and development of its strategically located TLC lithium claystone project in the richly mineralized Esmeralda lithium district in Nevada as well as continuing to advance its Falchani lithium and Macusani uranium development projects in southeastern Peru. Both Falchani and Macusani have been through preliminary economic assessments, exhibit strong additional exploration potential and are situated near significant infrastructure.

The TSX Venture 50 is a ranking of the top performers in each of industry sectors in the TSX Venture Exchange over the last year.

For more information, please contact the Company atinfo@americanlithiumcorp.com or visit our website at www.americanlithiumcorp.com for project update videos and related background information.

Follow us on Facebook, Twitter and LinkedIn.

On behalf of the Board of Directors of American Lithium Corp.

“Simon Clarke”

CEO & Director

Tel: 604 428 6128

For further information, please contact:

American Lithium Corp.

Email: info@americanlithiumcorp.com

Website: www.americanlithiumcorp.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Forward-Looking Statements

Statements in this release that are forward-looking information are subject to various risks and uncertainties concerning the specific factors disclosed here. Statements in this release that are forward-looking information, include, without limitation, use of proceeds from the placement. Information provided in this release is necessarily summarized and may not contain all available material information. All such forward-looking information and statements are based on certain assumptions and analyses made by American Lithium management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading “Risks Factors” in American Lithium's most recently filed Annual Information Form and MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information or statements.

LONDON/MELBOURNE, Oct 14 (Reuters) – BHP Group investors look set to offer a lukewarm assessment of the miner's climate change roadmap on Thursday, due to concerns that its long-term plans to tackle its customers' greenhouse gas emissions do not go far enough.

BHP has said it is pursuing the goal of net zero emissions by 2050 for its customers, including the heavily polluting steel industry. But it has stopped short of setting a target largely due to uncertainties over how technology would develop.

The miner wants investors to endorse its climate action plan at its shareholder meeting in London on Thursday, but the response has been mixed.

Advisors Glass Lewis and the Local Authority Pension Fund Forum (LAPFF) recommended that investors vote against the plan while ISS offered qualified support.

LAPFF said it was not aligned with the global treaty on climate change adopted in Paris in 2015 "and appears to rely too heavily on carbon capture and offsetting as a means of carbon reduction". It did however commend BHP's steps to cut carbon emissions.

Glass Lewis said it "did not appear that (BHP's) emissions targets were science-based" and that the company was not specific enough around disclosures of customer emissions.

ISS recommended investors vote for the "reasonable" plan and continue to engage with the company as its targets evolve.

"Investors have been clear that they want an opportunity to have a say on our approach to climate, and we know they are seeking more information and transparency," a BHP spokesman said.

BHP said it has found support from shareholders including Climate Action 100+, the world's largest investor engagement initiative on climate change, which said it looked forward to ongoing dialogue over a plan it called "a realistic statement of the challenges faced."

BHP's Australian peer Fortescue Metals Group raised the stakes on iron ore producers this month by setting a 2040 target to achieve net zero customer emissions.

Factbox of major miner plans to cut emissions.

BHP's Australian shareholder meeting is on Nov. 11. (Reporting by Clara Denina in London and Melanie Burton in Melbourne; editing by John Stonestreet)

MELBOURNE, Australia, October 14, 2021–(BUSINESS WIRE)–Rio Tinto Iron Ore Chief Executive, Simon Trott and Rio Tinto Managing Director of Port, Rail and Core Services, Richard Cohen, joined community members, local businesses and representatives from local government to celebrate the official opening of its new community ‘Hub’ in Karratha.

Located on Ngarluma country in the heart of Karratha’s CBD, the new Rio Tinto Karratha Hub will make it easier for local people to connect with our busines.

The modern space constructed by lead contractor GBSC Yurra in conjunction with other local businesses, features a meeting room named by Ngarluma elders in recognition of its location on Ngarluma country, work stations, kitchen facilities and local artwork.

Rio Tinto hopes the "Marunharri" room, which means "big mob" in Ngarluma language, will become a place of listening, learning and collarboration between Rio Tinto and the Karratha community.

The Hub will be open to the public on weekdays from 9am to 4pm and visitors are encouraged to get to know their local Rio Tinto team. People can visit the Hub to ask questions about employment and training opportunities, local procurement including the ‘Buy Local’ initiative, opportunities for Pilbara Aboriginal businesses and community grant funding.

Rio Tinto Iron Ore chief executive, Simon Trott said "Karratha is home to many of our employees, local suppliers, as well as government, community and Traditional Owner partners and is critical to our operations.

"The new hub builds on the work we have been doing with the City of Karratha to enhance community life through new and improved services throughout the region."

Rio Tinto Iron Ore managing director of Port, Rail and Core Services, Richard Cohen said "It is great to see the Rio Tinto sign in the main street of town. Rio Tinto is proud of its long connection to the Karratha community and I expect the new hub will further strenghten our ties with local business, community groups and any locals who want to connect with our team.

"The opening of this new hub, a place designed specifically for local people to feel welcome and connected to our company, is part of our commitment to being a good local and to help to build thriving communities."

View source version on businesswire.com: https://www.businesswire.com/news/home/20211014005440/en/

Contacts

Media Relations, UK
Illtud Harri
M +44 7920 503 600

David Outhwaite
M +44 7787 597 493

Media Relations, Americas
Matthew Klar
T +1 514 608 4429

Investor Relations, UK
Menno Sanderse
M: +44 7825 195 178

David Ovington
M +44 7920 010 978

Clare Peever
M +44 7788 967 877

Rio Tinto plc
6 St James’s Square
London SW1Y 4AD
United Kingdom

T +44 20 7781 2000
Registered in England
No. 719885

Media Relations, Australia
Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

Investor Relations, Australia
Natalie Worley
M +61 409 210 462

Amar Jambaa
M +61 472 865 948

Rio Tinto Limited
Level 7, 360 Collins Street
Melbourne 3000
Australia

T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404

riotinto.com

Category: Pilbara

(Bloomberg) — BHP Group’s London investors voted to support the biggest mining company’s climate change plan, despite some opponents of the strategy saying it doesn’t go far enough.

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BHP’s has said it will target net-zero greenhouse gas emissions from its direct suppliers and the shipment of its products by 2050. But the miner stopped short of extending that to steelmaking customers due to what it describes as the technical challenges facing the industry.

That refusal to set hard targets for its customers’ pollution, which account for 96% of its overall emissions, drew criticism from some investors, including prominent advisory firm Glass, Lewis & Co., which urged shareholders to vote down the plan. Most ignored that advice, with 83% of the BHP’s London investors supporting the plan at the company’s annual meeting on Thursday.

“There’s a need for urgent action, many different views about what that action should look like and you see that coming forward in the way that some parties are reacting to the plan,” BHP Chief Executive Officer Mike Henry said after the meeting in London.

The company’s Australian investor base will vote next month, before full results are released.

The world’s top miners are seeking to reassure investors they can curb their environmental impact amid growing pressure from shareholders and advocacy groups. Scope 3 emissions — created when customers such as Chinese steel mills use the raw materials they mine — are among the hardest to reduce. Miners such as BHP say they can’t give hard targets before the technology to curb that pollution has been proven.

“As our understanding of the underlying opportunities continues to evolve, as technologies continue to evolve, we will refresh the direction we are traveling and the goals and target we’ve set,” Henry said.

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