Elon Musk, one of the most divisive characters in Silicon Valley, saw his net worth explode by over $100 billion in 2020 alone, setting records in wealth accumulation…

And that’s largely thanks to the dramatic rise of the electric vehicle trend that has taken Wall Street by storm.

Tesla (NASDAQ:TSLA) saw its share price skyrocket by over 600% last year…with the EV giant surging past some of the United States’ most influential companies, including Visa, JP Morgan, and Walmart.

Its market capitalization is now sitting at just over half of a trillion dollars…

And its success has paved the way for the entire industry, as well.

From charging infrastructure and battery makers to EV tie-ins, the electrification of everything is well underway.

But this exciting new industry is still in its infancy, and there are a few up-and-comers that could see Tesla-like returns in the coming years.

That’s why we’ve put together a list of some of our favorite EV industry plays that we think are still flying under the radar.

#1 Blink Charging (NASDAQ:BLNK)

Blink Charging was trading at just over $1.50 last May…

But the run-up in electric vehicle stocks has sent this infrastructure play soaring.

In just a year, Blink has seen its share price skyrocket by an astounding 1996%…but this could be just the beginning.

Investors are betting big on the future. It’s an “if you build it, they will come” stock story, and it’s still in its first act.

Blink is building an electric vehicle charging network, and it has explosive potential.

Right now, It’s caught in a positive feedback loop. The bigger the electric vehicle industry becomes, the more potential Blink has.

We recommended this stock back when it was trading at just $10 per share…

But we’re doubling down on the infrastructure boom.

Why? Because U.S. President Joe Biden is closer than ever to sealing a multi-trillion-dollar deal that will prioritize homegrown renewable energy infrastructure.

There are currently only 41,000 EV charging stations in the United States…

And the system is almost comically broken.

This is one space that Tesla absolutely dominates…

Its supercharging network is second to none. But for non-Tesla-owners, there are simply not enough options.

But this could be changing.

Over the next ten years, President Joe Biden is planning on spending billions of dollars to increase the total charging stations in the United States to 550,000.

Just for a little bit of context… there are only about 150,000 gas stations in the United States.

In addition to Biden’s plan to ramp up infrastructure deployment, the President is also looking to replace the entire fleet of government vehicles with EVs…

That means the pressure is on to get this infrastructure locked and loaded.

While there are some private charging initiatives like Tesla’s already being rolled out, they’re unlikely to benefit from Biden’s ambitious infrastructure push…

As Chris Nelder, manager of Carbon-Free Mobility at the Rocky Mountain Institute, explained, “To whatever extent public money is being spent, it should only be spent on sites that are available to the public,” adding, “that’s certainly true for this Biden infrastructure spending plan.”

So while Tesla’s supercharger network has turned a lot of heads…

The real explosion is still to come. And Blink is one of the few companies that already has an edge in this looming infrastructure boom.

#2 Facedrive (TSXV:FD,OTC:FDVRF)

The world is changing, that much is certain.

The largest transfer of wealth in history is currently taking place…

And companies are being forced to adapt or die.

Millennial money is pouring into the stock market, fueled in part by zero fee trading apps…

And the most successful businesses might in future be those with a focus on green energy and technology.

We think that Facedrive, in particular, encapsulates these demands perfectly.

It’s the tie-in of tie-ins because it’s built an entire ecosystem with connetions to the electric vehicle industry.

From ride-sharing to carbon-offset food delivery, it’s captured two rapidly growing segments under a single umbrella.

And it hasn’t stopped there.

They’ve already re-imagined ride-sharing, providing a cutting-edge carbon-offset alternative to the giants of the industry, Uber and Lyft…

But now they’re looking to challenge the notion of car ownership as we know it.

We’ve all read the headlines …

“Millennials Turn Their Back On Car Ownership”

“Millennials Say They'd Give Up Their Cars Before Their Computers or Cell Phones”

“The Reasons Why Millennials Aren't As Car Crazed As Baby Boomers”

And Facedrive saw this coming a mile away.

With its acquisition of Steer, a subscription-based electric vehicle business, users can order a Tesla, Porsche, or Audi EV that will be personally delivered directly to their doorstep.

Not only does this mean you can enjoy the quality and luxury of these top-tier brands, but you can also drive a fully insured electric vehicle when you want it, without having to worry about buying an asset that loses most of its value as soon as you drive it off the lot.

This simple concept effectively allows users the ability to lease any number of vehicles without committing to – or paying an outrageous upfront cost for – one specific car.

This is how you’ll probably drive a Tesla in the future.

Or, an Audi e-Tron.

And this is an important development…

Younger generations just aren’t interested in owning….most things.

Subscription services have grown by leaps and bounds.

From fashion and hygiene to media consumption… And even housing.

The new generations want convenience, freedom, and variety.

This is the ‘subscription economy’…

And the numbers speak for themselves:

• Netflix, the de-facto leader of the subscription boom, is currently sitting on a $200 billion market cap…

• Selina, an international subscription-based co-working and co-living empire has raised nearly a billion dollars in just a few rounds of VC funding…

• Ipsy, a beauty box subscription service, is pulling down more than $500 million in revenue every year…

• Even the popular dating app Tinder saw its subscription revenue soar to $1.2 billion in 2020.

There’s a subscription for most everything…And Facedrive (TSXV:FD,OTC:FDVRF) has positioned itself to fit in the middle of the booming new business model and the electric vehicle market that is set to grow exponentially in the years to come.

#3 Fisker (NYSE:FSR)

Fisker is a fairly speculative play in the EV world…

In fact, it won’t even begin producing its electric SUVs until 2023.

But that doesn’t mean it’s not worth watching.

It’s probably one of the most reasonably-priced EV stocks on the market.

It’s a slow burner that’s quietly sealing massive deals while doing its best to stay out of the limelight.

And in a market full of overblown valuations fueled by a hype-machine that just can’t quit…

Fisker is a breath of fresh air.

Fisker is another speculative play. It won’t start producing its EV SUVs until 2023. But again, it’s a story stock that looks a lot like Tesla did in the early days.

Citigroup analyst Italy Michaeli recently picked up coverage of Fisker, with a “Buy” rating and a price target of $26.

Michaeli gets the narrative here, reminding investors that “as a pre-revenue company, Fisker is clearly a higher-risk investment proposition”, but there’s a big reason to be bullish…

Fisker has four long-term advantages here:

• It’s making an SUV, which Michaeli says is a good segment to target.

• It’s got a strong brand.

• It’s got a legacy behind the wheel: Henrik Fisker is Fisker’s founder and he’s a legend in automotive design.

• And it’s a massive saver of capital because it has an innovative “asset-light” approach, getting Magna International to assemble its first vehicle.

It’s already got 9,000 advance orders … prepaid.

And when it does come out with its first Ocean SUV, it will be at a $40,000 price point and a super flexible lease set-up that could be incredibly disruptive …and at exactly the right time.

Chinese Electric Vehicle Companies Are Facing Off For Market Dominance

NIO Limited (NYSE:NIO) ) was once just a pipe dream for investors in the EV market. It was even on the brink of bankruptcy But China’s answer to Tesla’s dominance powered on, eclipsed estimates, and most importantly, kept its balance sheet in line. And it’s paid off. In a big way. The company has seen its share price soar from $3.24 at the start of 2020 to a high of $50 earlier this year before falling back to its current price of $38.

Then, in November of 2020, NIO unveiled a pair of vehicles that would make even the biggest Tesla devotees truly contemplate their brand loyalty. The vehicles, meant to compete with Tesla’s Model 3, could be exactly what the company needs to take control of its domestic market.

In addition to its automotive push, however, Nio, Tesla’s largest competitor in China, has also started to offer a batteries-as-a-service concept, in which car buyers can ‘lease’ the battery of their vehicle and save as much as $10,000 on the price of a new vehicle, while also offering buyers the option to swap batteries after a few years of use. And that’s huge news in the lithium world, because it will mean give miners even greater incentive to sign deals with the battery innovator.

Li Auto (NASDAQ:LI) was founded in 2015 by its namesake, Chairman and CEO Li Xiang. And while it may not be a veteran in the market like Tesla or even NIO, it’s quickly making waves on Wall Street.

Backed by Chinese giants Meituan and Bytedance, Li has taken a different approach to the electric vehicle market. Instead of opting for pure-electric cars, it is giving consumers a choice with its stylish crossover hybrid SUV. This popular vehicle can be powered with gasoline or electricity, taking the edge off drivers who may not have a charging station or a gas station nearby.

Though Li just hit the NASDAQ in July, the company has already seen its stock price more than double. Especially in the past month during the massive EV runup that netted investors triple digit returns.

It’s already worth more than $30 billion but it’s just getting started. And as the EV boom accelerates into high-gear, the sky is the limit for Li and its competitors.

XPeng Motors (NYSE:XPEV) is a newcomer in the Chinese electric vehicle boom. Though it only recently went public in the U.S., it’s taken the market by storm. Riding on the coattails of the success of Tesla and NIO, it has carved out its own demand, especially among the younger generation of traders looking for the next big company to blow.

Since its NYSE debut in August, the ambitious electric vehicle company has risen by more than 107% thanks to its promising financials and growing demand for its stylish vehicles.

In addition to retail interest, Xpeng has also received a ton of interest from Big Money. Earlier this year the company raised over $500 million from the likes of Aspex, Coatue, Hillhouse Capital and Sequoia Capital China, and even more recently, secured another $400 million from heavy hitters such as Alibaba, Qatar Investment Authority and Abu Dhabi’s sovereign wealth fund Mubadala.

As the demand for electric vehicles continues to grow, newcomers like Xpeng provide an excellent opportunity for investors to jump on this undeniable trend even if the missed out on Tesla’s meteoric rise to glory.

Due in large part to its exposure to the renewable energy market, Celestica’s (TSX:CLS) future is tied hand-in-hand with the green energy boom that’s sweeping the world at the moment. It helps build smart and efficient products that integrate the latest in power generation, conversion and management technology to deliver smarter, more efficient grid and off-grid applications for the world’s leading energy equipment manufacturers and developers.

Like the rest of the market, Celestica fell victim to the massive selloff sparked by the global COVID-19 pandemic, seeing its share price fall into the $2 range in March 2020. Since then, however, the stock price has soared by nearly 400% to its current trading price of $8.60.

Blink Charging (NASDAQ:BLNK) is an energy storage company with a focus on developing and deploying smart, flexible, cost-effective batteries to the grid. They are currently working on their first project in Southern California where they provide all-electric utility transportation services for the City of San Diego. Blink's goal is to create a more sustainable world by providing clean, reliable power for everyone.

And it’s paying off. Blink has risen by over 1500% since this time last year. And the sky is the limit for this up-and-comer. A wave of new deals, including a collaboration with EnerSys to deploy electric vehicles and charging stations adds further support.

Michael D. Farkas, for his part, the founder, CEO and Executive Chairman of Blink noted, “This is an exciting collaboration with EnerSys because it combines the industry-leading technologies of our two companies to provide user-friendly, high powered, next-generation charging alternatives. We are continuously innovating our product offerings to provide more efficient and convenient charging options to the growing community of EV drivers.”

Tesla Inc. (NASDAQ:TSLA) is an American automotive and energy company based in Palo Alto, California. Founded by Elon Musk in 2003, the company specializes in electric cars, lithium-ion battery energy storage, solar panels and also sells its products online. Tesla's first car was the Roadster sports car which became a reality when they began accepting orders for it on July 22nd 2008. The company has gone through many ups and downs over the years but recently they have been experiencing more success than ever before with their Model S sedan that received critical acclaim from both Consumer Reports as well as Motor Trend magazine who named it Car of the Year 2013.

Tesla was the talk of Wall Street in 2020. Throughout the year, the de facto king of electric vehicles dominated headlines and defied expectations. The meteoric rise by Tesla stock has seen CEO Elon Musk leapfrog several billionaires including Bill Gates to become the second-richest man on earth with a net worth of over $155 billion. Musk even briefly surpassed Jeff Bezos at one point to become the richest man in the world.

Maxar Technologies (NYSE:MAXR, TSX:MAXR) is a high flying tech stock to watch in the energy transition. Why? Its wholelly-owned subsidiary, SSL, a designer and manufacturer of satellites used by government and commercial enterprises, has pioneered research in electric propulsion systems, lithium-ion power systems and the use of advanced composites on commercial satellites. These innovations are key because they allow satellites to spend more time in orbit, reducing costs and increasing efficiency. And it’s greener than traditional power sources.

Maxar has seen its share of up and downs, but investors are finally taking note on its true potential. While it slumped a little bit earlier in the year, it’s finally starting to gain some traction. And as the company snags more deals, it could very well continue to climb.

Lithium Americas Corp. (NYSE:LAC, TSX:LAC) is one of North America’s most important and successful pure-play lithium companies. And it’s not ignoring the growing demand from investors for responsible and sustainable mining, either. In fact, one of its primary goals is to create a positive impact on society and the environment through its projects. This includes cleaner mining tech, strong workplace safety practices, a range of opportunities for employees, and strong relationships with local governments to ensure that not only are its employees being taken care of, but locals as well.

Lithium Americas is well-positioned to ride the wave of growing lithium demand in the years to come. It’s already raised nearly a billion dollars in equity and debt, showing that investors have a ton of interest in the company’s ambitious plans, and it will likely continue its promising growth and expansion for years to come.

Magna International (TSX:MG) isn’t necessarily an EV producer, but it is a great way to gain exposure to the EV – and by extension ESG – market without betting big on one of the new hot automaker stocks tearing up Robinhood right now.

More than a decade ago, Magna International was already making major moves in the battery market, investing over half a billion dollars in battery production while the market was still in its infancy. At the time, electric vehicles as we know them had barely hit the scene, with Tesla launching its premiere car just two years prior. Magna’s massive investment has paid if in a big way, however. Since its battery bet, the company has seen its valuation soar by tens of billions of dollars, and it has solidified itself as one of the leaders in the business.

Like Magna, Westport Fuel Systems (TSX:WPRT) is another hardware and tech provider in the auto-industry.It builds products to help the transportation industry reduce their carbon footprint. It is an important company to watch as new fuels and new forms of energy take the spotlight. Especially as the world races to leave behind traditional gasoline and diesel-powered vehicles. That’s because, while it is a manufacturing play at heart, it offers a particularly unique way to gain exposure to the alternative fuels market. As a key manufacturer of the hardware needed to build natural gas and other alternative-fueled cars, Westport is definitely a company to watch in this scene.

Due in large part to its exposure to the renewable energy market, Celestica’s (TSX:CLS) future is tied hand-in-hand with the green energy boom that’s sweeping the world at the moment. It helps build smart and efficient products that integrate the latest in power generation, conversion and management technology to deliver smarter, more efficient grid and off-grid applications for the world’s leading energy equipment manufacturers and developers.

Like the rest of the market, Celestica fell victim to the massive selloff sparked by the global COVID-19 pandemic, seeing its share price fall into the $2 range in March 2020. Since then, however, the stock price has soared by nearly 300% to its current trading price of $7.90

By. Olu Fashola

**IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY**

Forward-Looking Statements

Forward looking statements in this publication include that Facedrive will be able to expand to its EV subscription service; that transport in an EV through subscription services will become much more popular and that Facedrive will be able to carry out its business plans. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially. Risks that could change or prevent these statements from coming to fruition include that riders are not as attracted to EV rides or subscription services as expected; that competitors may offer better or cheaper alternatives to the Facedrive businesses; Facedrive’s ability to obtain and retain necessary licensing in each geographical area in which it operates; and whether markets justify additional expansion. The forward-looking information contained herein is given as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

DISCLAIMERS

This communication is not a recommendation to buy or sell securities. Oilprice.com, Advanced Media Solutions Ltd, and their owners, managers, employees, and assigns (collectively “the Company”) owns a considerable number of shares of FaceDrive (TSX:FD.V) for investment, however the views reflected herein do not represent Facedrive nor has Facedrive authored or sponsored this article. This share position in FD.V is a major conflict with our ability to be unbiased, more specifically:

SHARE OWNERSHIP. The owner of Oilprice.com owns a substantial number of shares of this featured company and therefore has a substantial incentive to see the featured company’s stock perform well. The owner of Oilprice.com will not notify the market when it decides to buy more or sell shares of this issuer in the market. The owner of Oilprice.com will be buying and selling shares of this issuer for its own profit. This is why we stress that you conduct extensive due diligence as well as seek the advice of your financial advisor or a registered broker-dealer before investing in any securities.

NOT AN INVESTMENT ADVISOR. The Company and the writer are not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.

RISK OF INVESTING. Investing is inherently risky. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell securities. No representation is being made that any stock acquisition will or is likely to achieve profits.

Read this article on OilPrice.com

By Jeff Lewis

TORONTO (Reuters) – BHP Group plans to almost double exploration spending for base metals within five years, its Chief Technical Officer Laura Tyler said on Wednesday, after shifting its exploration headquarters to Canada.

The world's biggest listed miner is expected to log bumper profits in August on booming prices for iron ore, but the pipeline for new projects is thin.

BHP's board is expected to make a call on its Jansen potash project in Canada as the miner looks to raise its exposure to new economy minerals including copper and nickel, seen as cornerstones of the world’s transition towards cleaner energy.

"Over the years we believe we have spent less than we should be spending on exploration," Tyler told Reuters in an interview.

Global exploration spending for base metals will nearly double within five years from the current annual $70 million to $80 million, she said, excluding outlays for early-entry joint ventures.

"So we are significantly increasing the amount we're spending just as our base load," she said.

BHP in March said it would move its head office for global exploration to Toronto from Santiago, Chile.

"That allows us almost to be closer to the action," she said.

The miner has partnered with junior Midland Exploration to explore for nickel in the Nunavik region of northern Quebec.

It also has a joint venture on copper concessions in Ecuador with Vancouver-based Luminex Resources Corp and holds a 12.3% stake in London-listed Solgold, whose Cascabel-Alpala copper-gold project in Ecuador is expected to start production in 2025.

(Reporting by Jeff Lewis; editing by Richard Pullin)

Denver, CO, June 23, 2021 (GLOBE NEWSWIRE) — Intrepid Potash Inc. (NYSE:IPI) (“Intrepid”) today announced the following increase to its potash and Trio^® pricing.

• In response to recent increases in the barge and inland warehouse potash markets, Intrepid increased its potash price by $90 per ton at all locations and for all product grades. Intrepid is now posted at $250 per ton above 2020 summer-fill price levels.

• Effective June 23, 2021, Intrepid increased its Trio^® price by $35 per ton on all products. Intrepid is now accepting Trio^® orders for Q3 delivery.

“The barge and inland warehouse potash markets have appreciated significantly in the last two weeks due to limited supply and the new posted prices reflect the increase in the spot market since our last price announcement. Higher potash price has also increased the underlying potassium value of our Trio^® product and we are now accepting orders for third quarter delivery.” said Bob Jornayvaz, Intrepid's Executive Chairman, President, and CEO. “Similar to other fertilizer producers, we committed most of our third quarter potash volumes in May during our last price announcement. We are confident in our distribution network and well positioned to supply our customers when the fall season begins.”

Jornayvaz continued, “Our previously scheduled oilfield investor day call in June has been postponed due to expanding development plans and evolving recycling opportunities from numerous operators requesting Intrepid services. We are now planning a Potash/Trio^® investor day in October and a ESG presentation in November.”

About Intrepid:

Intrepid is a diversified mineral company that delivers potassium, magnesium, sulfur, salt, and water products essential for customer success in agriculture, animal feed, and the oil and gas industry. Intrepid is the only U.S. producer of muriate of potash, which is applied as an essential nutrient for healthy crop development, utilized in several industrial applications, and used as an ingredient in animal feed. In addition, Intrepid produces a specialty fertilizer, Trio^®, which delivers three key nutrients, potassium, magnesium, and sulfate, in a single particle. Intrepid also provides water, magnesium chloride, brine, and various oilfield products and services.
Intrepid serves diverse customers in markets where a logistical advantage exists and is a leader in the use of solar evaporation for potash production, resulting in lower cost and more environmentally friendly production. Intrepid's mineral production comes from three solar solution potash facilities and one conventional underground Trio^® mine.

Intrepid routinely posts important information, including information about upcoming investor presentations and press releases, on its website under the Investor Relations tab. Investors and other interested parties are encouraged to enroll at intrepidpotash.com, to receive automatic email alerts for new postings.

Forward-Looking Statements:

This press release includes certain statements concerning expectations for the future that are forward-looking within the meaning of the federal securities laws. Forward-looking statements contain known and unknown risks and uncertainties (many of which are difficult to predict and beyond management's control) that may cause Intrepid’s actual results in future periods to differ materially from anticipated or projected results. Forward-looking statements in this press release include, among others, statements regarding current spot market prices and Intrepid’s ability to realize these prices in the future. An extensive list of specific material risks and uncertainties affecting Intrepid is contained in its Annual Report on Form 10-K for the year ended December 31, 2020, and other quarterly and current reports filed with the Securities and Exchange Commission from time to time. Any forward-looking statements in this press release are made as of the date of this press release, and Intrepid undertakes no obligation to update or revise any forward-looking statements to reflect new information or events.

Contact:
Matt Preston, Vice President of Finance
Phone: 303-996-3048
Email: matt.preston@intrepidpotash.com

LONDON, June 23, 2021–(BUSINESS WIRE)–Rio Tinto, a leading global mining and metals company, and Schneider Electric, the leader in digital transformation of energy management and automation, have signed a memorandum of understanding (MoU) for a first of its kind collaboration to develop a circular and sustainable market ecosystem for both companies and their customers.

This multi-product partnership will see Schneider Electric use responsibly sourced materials produced by Rio Tinto. These include low-carbon aluminium and copper produced with renewable power, iron ore, and borates. Rio Tinto will utilise energy and industrial services from Schneider Electric, as the companies work together to develop digital platforms, technologies and solutions to be deployed across the metals and mining supply chain to drive further decarbonisation.

Rio Tinto Chief Commercial Officer Alf Barrios said: "This unique partnership will help accelerate decarbonisation and renewable energy solutions by combining low-carbon materials with cutting-edge digital technology. Working together will allow Rio Tinto and Schneider Electric to pursue opportunities beyond what is possible for either company on its own. This collaboration also opens doors to consider strategic initiatives such as expanding the use of artificial intelligence and predictive analytics to reduce downtime in our plants, digitization of our supply chains, and a host of other transformative technologies."

Schneider Electric Executive Vice-President Industrial Automation, Barbara Frei said: "We are excited to work with Rio Tinto to develop clean and pioneering solutions to meet industrial decarbonisation challenges. As the world’s most sustainable corporation and a manufacturer with a global network of smart factories and smart distribution centres, Schneider Electric is on a mission to make industries of the future eco-efficient, agile, and resilient through open, software-centric industrial automation and sustainable energy solutions. This new partnership demonstrates that Rio Tinto is as passionate as we are about bridging progress and sustainability for all."

The partnership will draw on Schneider Electric’s Energy as a Service expertise to evaluate the use of innovative solutions, including microgrids, to supply energy from low-carbon sources, and artificial intelligence and advanced analytics to help meet sustainability goals at Rio Tinto sites and throughout its supply chain.

Rio Tinto’s START traceability and transparency initiative, the first sustainability label for aluminium using blockchain technology, will be deployed with Schneider Electric to unlock value for customers, suppliers and partners. The companies will work to expand this transparency, offering START in combination with Schneider Electric’s EcoStruxure™ platform, an IoT system architecture that connects everything in an enterprise, from the shop floor to the top floor, to deliver enhanced safety, reliability, efficiency, and sustainability.

The companies will also partner to evaluate emerging innovation opportunities, such as the efficient production of critical materials for renewable technologies and advances in low-carbon, green steel manufacturing, both of which will play a significant long-term role in industrial decarbonisation.

Notes to editors

About Rio Tinto

Rio Tinto produces high-quality iron ore, copper, aluminium, and minerals that have an essential role in enabling the low-carbon transition.

We have publicly acknowledged the reality of climate change for over two decades and have reduced our emissions footprint by over 30 percent in the decade to 2020.

We have set 2030 targets to reduce our absolute emissions by 15% and our emissions intensity by 30% relative to our 2018 baseline. These targets are consistent with a 45% reduction in absolute emissions, relative to 2010 levels, and the Intergovernmental Panel on Climate Change (IPCC) pathways to 1.5°C. They are supported by our commitment to spend approximately $1 billion on emissions reduction initiatives over the first five years of the ten-year target period. In 2020, we set new Scope 3 emissions reduction goals to guide our partnership approach across our value chain.

Read more about our approach to climate change: www.riotinto.com/invest/reports/climate-change-report

About Schneider Electric

Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.

Our mission is to be your digital partner for Sustainability and Efficiency.

We drive digital transformation by integrating world-leading process and energy technologies, endpoint to cloud connecting products, controls, software, and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centres, infrastructure, and industries.

We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.

www.se.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20210623005156/en/

Contacts

Rio Tinto
media.enquiries@riotinto.com

Media Relations
Matthew Klar
+1 514-608-4429
matthew.klar@riotinto.com

Schneider Electric
global.pr@se.com

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: General

The FTSE 100 (^FTSE) rose on Wednesday, outperforming European peers despite data pointing to bumper economic growth in the eurozone.

The FTSE was up 0.2% just before mid-morning in London, powered by mining and oil stocks. Shell (RDSB.L) topped the index with a gain of 2% and BP (BP.L) rallied 1.6%. Anglo American (AAL.L) registered a gain of 1.6%, while BHP (BHP.L) wasn't far behind. 

“The markets seem to be in consolidation mode on Wednesday after their see-saw start to the week,” said Russ Mould, investment director at AJ Bell.

Investors were focused on central banks and private-sector PMI data. In Britain, Wednesday marked the fifth anniversary of the Brexit vote, although this was more symbolic than market-moving.

IHS Markit published "flash" PMI data for Europe and the UK that showed continued strong momentum for the COVID recovery.

June marked one of the best months on record for the UK economy and the eurozone enjoyed its fastest expansion in 15 years.

"Firms reported a further rise in new orders, lifting them to their highest level since June 2006," said Claus Vistesen, chief eurozone economist at Pantheon Macroeconomics. "Moreover confidence in the outlook was at a record high, suggesting the firms now believe Europe the virus is in the past. This sentiment carried over into hiring, with the employment index rising for a fifth month in a row."

However, the German DAX (^GDAXI) and the French CAC (^FCHI) both lost ground in early trade despite opening higher. The DAX was down 0.4% by mid-morning and the CAC was a third of a percent lower.

PMI surveys in both the UK and eurozone warned businesses were facing increased supply chain issues, which are pushing up costs and threaten to slow recovery.

The Federal Reserve continues to dominate the conversation within market. The US central bank last week surprised investors by suggesting it could hike US interest rate twice in 2023. It sparked a sell-off of stocks and a rally for the dollar, as investors rejigged portfolios to reflect a sooner-than-expected end to the era of ultra-cheap money.

In testimony and speeches on Tuesday, Fed chair Jerome Powell and his colleagues sought to reassure investors that rate hikes are still a way off. The public comments helped stocks rally and cooled the dollar after a recent price surge. 

The Nasdaq (^IXIC) touched a new high on Tuesday and looked set to continue to climb on Wednesday. Futures (NQ=F) were up 0.1% in early trade. Elsewhere, Dow futures (YM=F) were up 0.2% and S&P 500 futures (ES=F) were 0.1% higher.

The pound was up 0.2% against the dollar (GBPUSD=X) in early trade on Wednesday. Cable reached $1.3975, its highest level since last Thursday when the Fed-driven rally for the dollar was gathering pace.

Fed board member Michelle Bowman and Federal Reserve Bank of Boston president Eric Rosengren are both due to give speeches later this afternoon.

Asian markets were mixed overnight, with tech stocks powering the Hong Kong Hang Seng (^HSI) 1.8% higher but gains muted elsewhere. Japan's Nikkei (^N225) closed flat after minutes from the Bank of Japan showed policymakers believed the global economy recovery could be faster than previously expected. It raises the prospect of the removal of stimulus and support measures, which will likely make capital more expensive.

Watch: Will interest rates stay low forever?

The world is undergoing green energy revolution and the automobile industry is leaving no stone unturned to accelerate electric vehicle (EV) development, which is the driving force toward this clean energy revolution. As consumers get more environment conscious with each passing day, EV industry prospects are only expected to blossom in the coming years. While lithium seems to be the metal that is grabbing most eyeballs amid this e-mobility push, one should not underestimate the role of copper in sustainable energy-efficient transportation.

Copper’s Critical Role in EV Tech

The red metal is an essential component in EVs, and is used in electric motors, batteries, inverters and wiring. Also, the EV charging infrastructure is largely based on copper-based technologies. Copper is a key component of charging infrastructure and is found in cables, transformers and wiring to the electric panel.

Importantly, usage of copper in EVs is up to 4 times more than in the conventional cars. Per the Copper Development Association Inc., traditional cars have 18-49 pounds of copper, hybrid EVs contain approximately 85 pounds and plug-in hybrid EVs use 132 pounds. While battery BEVs contain 183 pounds, a hybrid electric bus and a battery electric bus contain 196 and 814 pounds of copper, respectively.

EV Industry on Fire, Copper Prospects Rosy

With rising awareness about greenhouse gases and their effect on global climate, several companies are aiming to reach carbon neutrality in the near term and the number of EV model launches is rapidly increasing. China, Europe, United Kingdom, France, Germany, the United States and other countries are laying out ambitious targets to phase out gas-powered vehicles. Per Deloitte projections, worldwide EV sales are set to see a CAGR of 29% over the next decade. Market Research Future expects the global EV market to reach $893.5 billion by 2027, representing a CAGR of 21.6% over 2021-2027 timeframe. The Boston Consulting Group projects EVs to more or less account for a third of the global auto industry by 2025, and more than 50% by 2030, indicating a massive jump from 2.6% in 2019.

Amid rising popularity of EVs, the demand for copper is likely to jump. Per the International Energy Agency, clean energy technologies will account for around 45% of copper demand in 2040, higher than 24% in 2020. Per Fastmarkets MB, adoption of EV vehicles will see global refined copper demand rise by 21% per year until 2030, reaching around 2.5 million tons in 2030. The International Copper Association estimates the EV boom to lift copper demand in green vehicles from 185,000 tons in 2017 to 1.74 million tons by 2027. Wood Mackenzie estimates that the growth in EV charging portals will result in the consumption of more than 250% more copper than the 2019 levels.

Stocks to Keep a Tab On

With copper being a key component powering EVs, here are some copper stocks that should be on your watchlist.

FreeportMcMoRan Inc. FCX: This Phoenix-based miner is expected to gain from progress in exploration activities that will boost production capacity. The company will benefit from the ongoing large-scale concentrator expansion project at Cerro Verde that will provide incremental annual production of around 600 million pounds of copper and 15 million pounds of molybdenum. It recently completed the Lone Star copper leach project and is on track to produce around 200 million pounds of copper annually. Efforts to cut costs and debt levels appear encouraging. The company currently sports a Zacks Rank #1 (Strong Buy) and has a long-term expected EPS growth rate of 28.7%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Southern Copper Corporation SCCO: This Mexico-based mining company has the largest copper reserves in the industry and operates high-quality, world-class assets in investment grade countries, such as Mexico and Peru. It has growth projects on track that will help achieve its target of producing 1.9 million tons of copper production by 2028.Backed by its commitment to increase low-cost production and growth investments, the company is well poised to continue delivering enhanced performance. It currently sports a Zacks Rank #1 and has a long-term expected EPS growth rate of 18.7%.

BHP Group BHP: Headquartered in Melbourne, this natural resources firm is engaged in the production of petroleum, copper, iron, and coal. The firm owns a copper mine in Chile and South Australia.  In 2020, BHP produced around 1.7 million tons of copper. The company is expanding its mine at Spence in Chile, extending its life for another 50 years. It has also boosted exploration spending for more copper from all over the world.  Efforts to make operations more efficient through smart technology adoption across the entire value chain will continue to aid in reducing costs, thereby bolstering the company’s margins. It currently has a Zacks Rank #1 and a long-term expected EPS growth rate of 4.1%.

Teck Resources TECK: Vancouver-based Teck is a significant copper producer in the Americas, with four operating mines in Canada, Chile and Peru, and copper development projects in North and South America. The firm’s Quebrada Blanca Phase 2 (QB2) copper project surpassed the half-way point in April. Once completed, QB2 will transform the company’s copper business, making it a major global copper producer. The company anticipates to produce 275,000-290,000 tons of copper in 2021, higher than 257,500 tons in 2020. Carrying a Zacks Rank #3 (Hold), the company has a long-term expected EPS growth rate of 20.2%.

Breakout Biotech Stocks with Triple-Digit Profit Potential

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In this article, we discuss the 10 best nickel stocks to buy now. If you want to skip our detailed analysis of these stocks, go directly to the 5 Best Nickel Stocks to Buy Now.

The demand for nickel has been rising in the past few years as it becomes important to the electric vehicle industry. Nickel, previously used as a corrosion resistant material by the steel industry, has exploded in value with the mass production of cheap electronic devices, most of which make use of the metal in manufacturing. According to Research and Markets, the global production of the metal is expected to cross 2.76 million tons within the next two years. This represents a compound annual growth rate of close to 3% for the nickel industry.

A few mining companies poised to use the high demand for the precious metal to their advantage in the near future include Vale S.A. (NYSE: VALE), the Brazilian mining firm, BHP Group (NYSE: BHP), the Australian global resources company, and Rio Tinto Group (NYSE: RIO), the United Kingdom-based multinational metals corporation. On April 26, Vale S.A. (NYSE: VALE) posted earnings per share of $1.09 for the first quarter of 2021, beating market predictions by $0.06. The company is also considering a spinoff of its base metals division.

Meanwhile, BHP Group (NYSE: BHP) has also been enjoying a stellar start to the new year. On May 18, CEO Mike Henry spoke at a mining conference and said that the future outlook for commodities was compelling as the COVID-19 stimulus packages of the government helped lift the demand for raw materials for an extended period of time. Henry also outlined that the industry was evolving to the advantage of BHP, which had close to 25% of its mining portfolio in futuristic commodities like nickel and copper.

Rio Tinto Group (NYSE: RIO), the second-largest mining firm in the world, has also been adapting to changes in the mining sector by engaging in projects that make the firm more environmentally stable in the long-term. As one of the largest nickel producers, the company feels it has a responsibility to the clean energy industry to develop a sustainable market ecosystem. In this regard, the firm has recently pledged to stop using hydrogen in aluminum refining in order to cut down on emissions.

The demand for nickel has been a source of disruption in the mining industry that is usually reliant on other precious metals for revenue. Larger market forces have been reshaping entire industries in the past few years. The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, 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 124 percentage points since March 2017. Between March 2017 and February 26th 2021 our monthly newsletter’s stock picks returned 197.2%, vs. 72.4% for the SPY. Our stock picks outperformed the market by more than 124 percentage points (see the details here). We were also able to identify in advance a select group of hedge fund holdings that significantly underperformed the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 13% through November 16th. 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.

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With this context in mind, here is our list of the 10 best nickel stocks to buy now. These were selected keeping in mind their relevance to the nickel industry, hedge fund sentiment, and the business fundamentals driving the earnings of each company.

Best Nickel Stocks to Buy Now

10. PolyMet Mining Corp. (NYSE: PLM)

Number of Hedge Fund Holders: N/A

PolyMet Mining Corp. (NYSE: PLM) is a mining company with interests in copper, nickel, cobalt, gold, silver, and platinum, among other metals. It is placed tenth on our list of 10 best nickel stocks to buy now. The stock has offered investors returns exceeding 29% over the course of the past four weeks. One of the top projects of the firm is the NorthMet, a polymetallic project located in Minnesota and covering an area of more than 4,000 hectares. Copper-nickel mines are part of the natural resource project.

In February, PolyMet Mining Corp. (NYSE: PLM) stock jumped to a six-month high, climbing 16% in a single day as the top court in Minnesota ruled in favor of the firm in a case involving a clean air permit issued to the firm by the pollution agency of the state.

Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in PolyMet Mining Corp. (NYSE: PLM) with 304,746 shares worth more than $963,000.

Just like Vale S.A. (NYSE: VALE), BHP Group (NYSE: BHP), and Rio Tinto Group (NYSE: RIO), PolyMet Mining Corp. (NYSE: PLM) is one of the best nickel stocks to buy now.

9. Haynes International, Inc. (NASDAQ: HAYN)

Number of Hedge Fund Holders: 11

Haynes International, Inc. (NASDAQ: HAYN) is a company that makes and sells nickel and cobalt-based alloys. These are corrosion resistant and are used in jet engines, gas turbines, and industrial heating equipment, among other places. The firm is ranked ninth on our list of 10 best nickel stocks to buy now. The company’s shares have returned 60% to investors over the course of the past year. Haynes has a market capitalization of just under $500 million and posted over $380 million in revenue last year.

Haynes International, Inc. (NASDAQ: HAYN) is one of the best options on the market when it comes to dividend payments. On April 29, the company declared a quarterly dividend of $0.22 per share, in line with previous. The forward yield was more than 3%.

At the end of the first quarter of 2021, 11 hedge funds in the database of Insider Monkey held stakes worth $56 million in Haynes International, Inc. (NASDAQ: HAYN), down from 13 the preceding quarter worth $42 million.

Just like Vale S.A. (NYSE: VALE), BHP Group (NYSE: BHP), and Rio Tinto Group (NYSE: RIO), Haynes International, Inc. (NASDAQ: HAYN) is one of the best nickel stocks to buy now.

8. Sibanye Stillwater Limited (NYSE: SBSW)

Number of Hedge Fund Holders: 16

Sibanye Stillwater Limited (NYSE: SBSW) is a South African mining company that focuses on precious metals. The company produces gold, nickel, copper, chrome, and other metals. The firm has mining interests in Africa and South America. The company has seen profits soar in recent weeks as the prices of basic materials rise and demand for nickel, used in premier electronic products, rises. It is placed eighth on our list of 10 best nickel stocks to buy now. The stock has returned 106% to investors over the past twelve months..

On June 1, Sibanye Stillwater Limited (NYSE: SBSW) stock soared by close to 7% after the company announced a share buyback program to repurchase 5% of ordinary stock till April next year, affirming that the buyback would not impact dividend payments for shareholders.

Out of the hedge funds being tracked by Insider Monkey, Connecticut-based investment firm AQR Capital Management is a leading shareholder in Sibanye Stillwater Limited (NYSE: SBSW) with 5.2 million shares worth more than $93 million.

Just like Vale S.A. (NYSE: VALE), BHP Group (NYSE: BHP), and Rio Tinto Group (NYSE: RIO), Sibanye Stillwater Limited (NYSE: SBSW) is one of the best nickel stocks to buy now.

In its Q1 2021 investor letter, Desert Lion Capital, an asset management firm, highlighted a few stocks and Sibanye Stillwater Limited (NYSE: SBSW) was one of them. Here is what the fund said:

7. Materion Corporation (NYSE: MTRN)

Number of Hedge Fund Holders: 17

Materion Corporation (NYSE: MTRN) is ranked seventh on our list of 10 best nickel stocks to buy now. The company’s shares have returned 36% to investors over the past year. The firm makes and sells advanced engineering materials. These are used in making semiconductors, as well as in products used by the aerospace and defense industries. The company is famous for the production of copper and nickel in a variety of forms, including plate, bar, wire, rod, and others.

On April 29, Materion Corporation (NYSE: MTRN) posted earnings for the first quarter of 2021, reporting earnings per share of $0.82, beating market predictions by $0.22. The revenue for the first three months of 2021 was $354 million, up more than 27% year-on-year.

Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in Materion Corporation (NYSE: MTRN) with 421,511 shares worth more than $27 million.

Just like Vale S.A. (NYSE: VALE), BHP Group (NYSE: BHP), and Rio Tinto Group (NYSE: RIO), Materion Corporation (NYSE: MTRN) is one of the best nickel stocks to buy now.

6. Mechel PAO (NYSE: MTL)

Number of Hedge Fund Holders: 3

Mechel PAO (NYSE: MTL) is a Russian mining company that has stakes in the power and steel businesses as well. It is placed sixth on our list of 10 best nickel stocks to buy now. The stock has returned 20% to investors over the past twelve months. The company is one of the top suppliers of nickel to the Russian government through the Southern Urals Nickel Plant. This nickel is used for defense needs when countries in the West refuse to export nickel to the Russian Federation.

In quarterly earnings results, posted on May 20, Mechel PAO (NYSE: MTL) reported a revenue of RUB76 billion for the first quarter of 2021, up close to 13% compared to the revenue for the first three months of last year.

At the end of the first quarter of 2021, 3 hedge funds in the database of Insider Monkey held stakes worth $3 million in Mechel PAO (NYSE: MTL), down from 4 in the previous quarter worth $2.8 million.

Just like Vale S.A. (NYSE: VALE), BHP Group (NYSE: BHP), and Rio Tinto Group (NYSE: RIO), Mechel PAO (NYSE: MTL) is one of the best nickel stocks to buy now.

Click to continue reading and see 5 Best Nickel Stocks to Buy Now.

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Disclose. None. 10 Best Nickel Stocks to Buy Now is originally published on Insider Monkey.

Caterpillar Inc. CAT recently entered into a collaboration agreement with Nouveau Monde Graphite Inc. to develop, test and produce zero-emission machines for the latter’s Matawinie graphite mine. Caterpillar expects to become the exclusive supplier of an all-electric mining fleet for the mine by 2028. The Matawinie project, which will provide high-purity graphite concentrate for electric vehicles, is planned to be the first open pit operation in the world that will exclusively use electric equipment. This is an important milestone in the mining industry as it can be used as a launch pad for other miners focused on cutting down their emissions utilizing Caterpillar’s cutting-edge technologies.

Fully owned by Nouveau Monde, Matawinie is a high-purity flake graphite deposit located in Saint-Michel-des-Saints, 150 km north of Montréal, Québec. The project is estimated to contain probable reserves of 59.8 Mt (million tons) grading 4.35% graphitic carbon. The mine is expected to produce 100,000 tons of graphite concentrate annually for the battery electric vehicle and energy storage markets. Also, the combination of high-quality infrastructure, skilled workforce and a dynamic regional business ecosystem make it a worthy investment. Nouveau Monde is targeting commercial operations by 2023.

Dedicated to stringent sustainable development standards, Nouveau Monde is committed to having both its equipment used for mining operations and its ore concentration and processing activities become fully electric within the first five years of production. This operating model, which is the world’s first for an open-pit mine, represents a potential reduction of over 300,000 tons of CO2 emissions over the mine’s lifespan. Notably, Caterpillar has been helping its customers decrease their carbon footprints through machinery and power solutions that minimize greenhouse gas emissions.

This news comes on the heels of Rio Tinto plc Plc’s RIO announcement that it will deploy the world’s first fully autonomous water truck in partnership with Caterpillar at its $2.6 billion Gudai-Darri iron ore mine in Western Australia’s Pilbara region. Water spraying is a vital part of mining operations and this new technology will enhance productivity by enabling digital tracking of water consumption, while cutting down water wastage. Rio Tinto intends to make Gudai-Darri one of the world’s most technologically advanced mines.

Cutting down mining sector’s carbon emissions is the need of the hour. Day by day, more and more mining companies are exploring options to electrify their mines. The switch from diesel to electricity will also cut costs and boost their license to operate. Electrified mines will require less maintenance and human intervention. The use of automation and the Internet of Things (IoT) will increase as drones, autonomous vehicles and remote-controlled operational systems are rolled out more widely across mining operations.

At Bernstein 37th Annual Strategic Decisions Conference earlier this month, Caterpillar’s CEO Jim Umpleby pointed toward a “long healthy cycle” in mining and strong commodity prices. Umpleby also highlighted that the energy transition has immense potential for Caterpillar in the long haul. The intensifying global focus on shifting from fossil fuels to zero emissions will require huge amount of commodities. This will lead to higher demand for mining equipment. Caterpillar given its focus on energy and emissions reduction will have a competitive edge.

Per a Research and Markets report, the global market for mining equipment, which was estimated at $119 billion in 2020, is projected to witness a CAGR of 6.1% and hit $179.8 billion by 2027. Metal mining is projected to record a 7.6% CAGR and attain $83.5 billion by 2027.

Price Performance

Shares of Caterpillar have surged 68.8% over the past year compared with the industry’s rally of 45.1%.

Image Source: Zacks Investment Research

Zacks Rank & Other Stocks to Consider

The company currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Some other top-ranked stocks in the industrial products sector are Tennant Company (TNC) and Encore Wire Corp. (WIRE). Both of these stocks sport a Zacks Rank #1, at present.

Tennant has an anticipated earnings growth rate of 49.5% for 2021. The company’s shares have gained around 18% year to date.

Encore Wire has an estimated earnings growth rate of 49.5% for the ongoing year. Year to date, the company’s shares have rallied nearly 36%.

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See these 7 breakthrough stocks now>>

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Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

One company value investors might notice is Rio Tinto (RIO). RIO is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock is trading with P/E ratio of 5.90 right now. For comparison, its industry sports an average P/E of 7.38. Over the past year, RIO's Forward P/E has been as high as 11.65 and as low as 5.78, with a median of 8.47.

Another valuation metric that we should highlight is RIO's P/B ratio of 1.95. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. RIO's current P/B looks attractive when compared to its industry's average P/B of 3.05. RIO's P/B has been as high as 2.28 and as low as 1.52, with a median of 1.88, over the past year.

These figures are just a handful of the metrics value investors tend to look at, but they help show that Rio Tinto is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, RIO feels like a great value stock at the moment.

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Taking the next significant step toward mining automation, Rio Tinto plc Plc RIO in partnership with Caterpillar Inc. CAT will deploy the world’s first fully autonomous water truck at its $2.6 billion Gudai-Darri iron ore mine in Western Australia’s Pilbara region. Water spraying is a vital part of mining operations and this new technology will enhance productivity by enabling digital tracking of water consumption, while cutting down water wastage. This marks a significant step in Rio Tinto’s mine automation and digitalization program, and Caterpillar’s efforts in developing autonomous solutions for customers.

The water trucks with 160,000-litre tank capacity have intelligent on-board system, which on detecting dry and dusty conditions on site will trigger the application of water. When a refill is required, the trucks are programed to self-drive to the water stand, park and top-up, and return to the field. Caterpillar’s three water trucks will join Gudai-Darri’s fleet of Caterpillar heavy mobile equipment including autonomous haul trucks and production drills. Rio Tinto intends to make Gudai-Darri one of the world’s most technologically advanced mines. Construction at Gudai-Darri continues to progress with production ramp-up on track for early 2022. Once completed, the mine will have an annual capacity of 43 million tons.

Notably, Rio Tinto’s existing Autonomous Haulage System has improved safety by reducing the risks associated with operators working around heavy machinery. Rio Tinto and other miners are increasingly relying on autonomous systems for haulage and drilling. With the help of technology and automation, miners are bringing radical changes to mining operations to increase productivity, reduce cost and improve frontline safety. The companies are investing in digital initiatives like AI, cloud computing and advanced analytics.

Brazilian miner, Vale S.A VALE has been increasingly embracing the use of robotics and automation. For instance, at its Brucutu Mine, the entire fleet is autonomous, and recently it reached a record of physical use of that fleet. The autonomous operation test for trucks at the Carajás mine in Pará has already begun and implementation is planned for the second quarter of 2021. The company has expanded the use of 25 to 40 autonomous trucks at major underground mines in Sudbury. It is also preparing the infrastructure to enable autonomous underground operation in the Voisey’s Bay and Thompson expansion. Vale recently announced that it will be able to resume operations at its Timbopeba iron ore dry processing plant in the coming months thanks to the use of an unmanned train.

BHP Group BHP has been operating a fully-autonomous truck fleet at its Western Australian Jimblebar mine since 2017. The site is now one of the safest operations in its portfolio, with significant events involving trucks at Jimblebar having dropped by more than 90% since the introduction of autonomous haulage. Following its success, BHP announced it would implement an autonomous fleet at its Goonyella Riverside coal mine in Queensland in late 2019. The transition to an autonomous fleet of up to 86 trucks over the next two years is underway and will involve more than 40,000 hours of training delivered to the Goonyella team to develop the competencies required for autonomous operations. Separately, BHP has announced that it will introduce 20 autonomous trucks at its Newman East (Eastern Ridge) mine in Western Australia by the end of this year.

Capitalizing on this increasing demand, the largest global manufacturer of construction and mining equipment, Caterpillar is enhancing its autonomous capabilities and bringing innovative products into markets that provide it with a competitive edge in mining. Recently speaking at Bernstein 37th Annual Strategic Decisions Conference, Caterpillar’s CEO Jim Umpleby pointed toward a “long healthy cycle” in mining and strong commodity prices. Umpleby also highlighted that the energy transition has immense potential for Caterpillar in the long haul. The intensifying global focus on shifting from fossil fuels to zero emissions will require huge amount of commodities. This is a win-win situation for both miners and mining equipment makers.

BHP currently sports a Zacks Rank #1 (Strong Buy), while VALE, Rio Tinto and Caterpillar carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for BHP’s fiscal 2021 earnings suggests year-over-year growth of 84%. The stock has gained 43% in the past year.

The Zacks Consensus Estimate for Rio Tinto’s fiscal 2021 earnings indicates year-over-year improvement of 41%. The stock has surged 46% in the past year.

The Zacks Consensus Estimate for Vale’s fiscal 2021 earnings suggests year-over-year growth of 138%. The stock has soared 110% in the past year.

The Zacks Consensus Estimate for Caterpillar’s fiscal 2021 earnings indicates year-over-year growth of 46%. The stock has appreciated 69.5% in the past year.

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5 Stocks Set to Double

Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>

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By Rod Nickel

WINNIPEG, Manitoba, June 22 (Reuters) – Canadian potash producer Nutrien is not focused on any potential collaboration with miner BHP Group, a senior Nutrien executive said on Tuesday in the company's first public comments about reports of possible cooperation.

BHP has for years been constructing a potash mine at Jansen, Saskatchewan, near Nutrien's six mines in the Canadian province. BHP expects to present its board with a decision in a few months on whether to complete the project.

Canada's Globe and Mail newspaper reported in May that BHP and Nutrien were negotiating a joint venture that would see Nutrien take control of the Jansen mine, while Bloomberg reported the companies discussed various partnership options. Both cited unnamed sources.

"Today it's not our focus," said Nutrien Executive Vice-President of Potash Ken Seitz, in an interview, asked about potential for cooperation with BHP.

"I'll just say that everything you've seen is speculative and inaccurate."

BHP, the world's biggest miner, has estimated Jansen would cost up to $5.7 billion in its first phase. Potash offers BHP diversification from copper and iron ore into agricultural markets. Farmers spread the crop nutrient to boost yields.

Potash prices are surging, due to rising demand and recent European Union (EU) sanctions on Belarus, a major producer. Nutrien on Monday said it would boost potash output this year to take advantage.

Seitz said sanctions could hamper seaborne exports by Belaruskali, Belarus' state-owned potash company, as it depends on the Klapeida port in EU member Lithuania.

"That would be the big one, waiting to see whether as part of the sanctions, that trade route would be closed off," he said.

Nutrien could also benefit if sales by Russian potash producer Uralkali replace Belaruskali shipments to some markets and short others, like Brazil, Seitz said. (Reporting by Rod Nickel in Winnipeg Editing by Marguerita Choy)

These are the materials stocks with the best value, fastest growth, and most momentum for July 2021.

Copper futures for July delivery fell 0.5% on Jun 18, touching $4.16 per pound — levels last seen in April. The metal has been under pressure of late and ended up losing 8% of its value in the past week following China’s announcement to sell reserves to rein in the commodity price rally. Further, copper prices were impacted by a firm dollar buoyed by the prospect of U.S. interest rate hikes. This is the worst decline seen so far since March 2020 when the COVID-19 pandemic affected demand due to the disruption of industrial activity.

Notwithstanding the current dip, copper prices are up around 18% year to date. Copper prices have been on an uptrend owing to accelerating demand on account of pick up in manufacturing activity, particularly in China. Meanwhile, inventories were low due to the pandemic induced slowdown in production. Notably, copper reached an all-time high of $4.90 per pound in May.

Last week, China announced plans to sell its reserves of copper, aluminium, and zinc in batches in the near future to boost supply, in a bid to bring commodity prices back to normal. China is the world’s top metals consumer and a major release of reserves could significantly change global supply and demand balances. Also, last week, the Fed indicated it may have to hike rates earlier than anticipated, which led to investors scurrying to the greenback. This, in turn, dealt a blow to metal prices.

However, growing demand for the metal, which has varied industrial uses amid supply constraints suggest that run-up isn’t over yet. Sustained growth in copper demand is expected to continue as the metal is essential to economic activity. Infrastructure development in major countries such as China and India, and the increasing global trend toward cleaner energy and electric cars will continue to support copper demand in the long term. Per the International Energy Agency, clean energy technologies will account for around 45% of copper demand in 2040, higher than 24% in 2020.

Meanwhile, grade decline, rising input costs, water constraints and scarcity of high-quality future development opportunities continue to weigh on the industry’s supply. Notably, miners are now committed to cost-reduction strategies and digital innovation to drive operating efficiencies, which will aid margins in the long haul.

Copper miners fall under the Zacks Mining – Non Ferrous industry, which has gained 116.9% in a year compared with the S&P 500’s rally of 35.7%. The industry falls under the broader Basic Materials sector, which surged 42.4%. The industry currently carries a Zacks Industry Rank #89, which places it at the top 35% of 256 Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Image Source: Zacks Investment Research

4 Copper Stocks to Watch

We suggest investors to keep an eye on these four copper-mining stocks that have been handpicked by us. Each of these stocks have a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), and a VGM Score of A or B. We believe this combination offer the best investment opportunities. These stocks have also outperformed the S&P in the past year. This is shown in the chart below. These stocks are anticipated to carry the momentum forward backed by their earnings growth projections.

Image Source: Zacks Investment Research

Southern Copper Corporation SCCO: This company based in Phoenix, AZ engages in mining, exploring, smelting, and refining copper and other minerals.

The company has the largest copper reserves in the industry and operates high-quality, world-class assets in investment grade countries, such as Mexico and Peru. Its constant focus on increasing low-cost production is commendable. It has growth projects on track that will help achieve its target of producing 1.9 million tons of copper production by 2028.

The Zacks Consensus Estimate for the company’s earnings in 2021 suggests year-over-year growth of 117%. The estimate has moved north by 47% in 90 days’ time. It has a long-term estimated earnings growth rate of 18.7%. The company’s shares have surged 58.9% in the past year. It currently has a Zacks Rank #1 and a VGM Score of A. You can see the complete list of today’s Zacks #1 Rank stocks here.

BHP Group BHP: Headquartered in Melbourne, Australia, BHP Group engages in exploration, development, and production of oil and gas properties; and mining of copper, silver, zinc, molybdenum, uranium, gold, iron ore, and metallurgical and energy coal.

In 2020, BHP produced around 1.7 million tons of copper in 2020. The company is expanding its mine at Spence in Chile, extending its life for another 50 years. It has also boosted exploration spending for more copper from all over the world. The company has four major projects under development in petroleum, copper, iron ore and potash with a combined budget of $8.5 billion over the life of the projects, which will drive growth in the long run. Efforts to make operations more efficient through smart technology adoption across the entire value chain will continue to aid in reducing costs, thereby bolstering the company’s margins. Its focus on lowering debt will also contribute to growth.

The company has a long-term estimated earnings growth rate of 4%. The Zacks Consensus Estimate for the company’s fiscal 2021 earnings suggests year-over-year growth of 84%. The estimate has been revised upward by 4% over the past 90 days. The stock has a Zacks Rank #3 and a VGM Score of B. Its shares have appreciated 39.6% in the past year.

Rio Tinto plc RIO: Headquartered in London, the U.K., Rio Tinto engages in mining of aluminum, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium.

The company’s world-class portfolio of high-quality assets and strong balance sheet positions it well to navigate through these turbulent times. Rio Tinto’s disciplined capital allocation supports its ability to sustain production and increase investment in development projects (in high-return iron ore and copper), while delivering superior returns to shareholders. Notably, its copper projects at Resolution (Arizona) and Winu (Western Australia) offer significant growth prospects.

The Zacks Consensus Estimate for fiscal 2021 earnings indicates year-over-year growth of 41%. The estimate has been revised upward by 11% over the past 90 days. In a year’s time, the company’s shares have gained 44.4%. The company has a Zacks Rank #3 and a VGM Score of A.

Freeport-McMoRan Inc. FCX: This Phoenix, AZ-based company is engaged in mineral exploration and development; mining and milling of copper, gold, molybdenum and silver; and smelting and refining of copper concentrates.

Freeport is conducting exploration activities near existing mines with focus on opportunities to expand reserves. The company will benefit from ongoing large-scale concentrator expansion project at Cerro Verde that will provide incremental annual production of around 600 million pounds of copper and 15 million pounds of molybdenum. It recently completed the Lone Star copper leach project and is on track to produce around 200 million pounds of copper annually. Efforts to cut costs and debt levels appear encouraging.

The Zacks Consensus Estimate for earnings for fiscal 2021 suggests year-over-year improvement of 480%. The estimate has been revised upward by 22% over the past 90 days. Shares of the company have soared 224% over the past year. It has a Zacks Rank #3 and a VGM Score of A. It has a long-term estimated earnings growth rate of 28.7%.

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Zacks Investment Research

In this article, we discuss the 10 best copper stocks to buy now. If you want to skip our detailed analysis of these stocks, go directly to the 5 Best Copper Stocks to Buy Now.

Copper is on track to become the new gold as the gap between supply and demand widens. According to a prediction by Bank of America, the price of copper could climb to $20,000 per metric ton within the next three years. However, the copper industry has been hit in recent weeks as the US prepares to lift interest rates, sending the price of the dollar surging and reducing the demand for the metal. In a double blow to the industry, China has announced that it will release the metal from national reserves in a bid to control commodity prices.

These developments have hit the copper industry that was on a bull run following the rise in demand for the metal as the economy reopened following the pandemic lockdowns. Copper is used in many electrical products like wires, motors, mobile devices, and others. It is also used in consumer ware and interior components of housing. Lately, as the demand for electric vehicles rises, copper is rapidly being consumed as it offers durability, high conductivity and efficiency, and is used in EV vehicles, charging stations, and other EV-related products.

Some of the companies that are at the forefront of copper production and could cash in on the expected boom for the metal in the long-term include Freeport-McMoRan Inc. (NYSE: FCX), Rio Tinto Group (NYSE: RIO), and Newmont Corporation (NYSE: NEM). In February, Freeport-McMoRan Inc. (NYSE: FCX) CEO Richard Adkerson announced that the firm was seeking to approve expansions at US-based copper mines to keep up with the surging demand, especially as copper was a central product for the new climate projects of the US government.

Meanwhile, Rio Tinto Group (NYSE: RIO), the United Kingdom-based mining firm, posted its biggest annual profit since 2011 in February as rising metals prices boosted revenue. It also declared the biggest dividend in its almost 15-decade-long history, totaling over $9 billion in payments to shareholders for 2020. Although this rise in earnings is largely attributed to the soaring price of iron, which accounts for more than 90% of the total earnings, the surge in copper prices also gave a firm push as it delivered a record quarter at the end of 2020.

Newmont Corporation (NYSE: NEM), the largest gold mining firm in the world, has also benefited from the copper business over the past few months. In April, the firm was named among the highest convictions picks for the second quarter by Bank of America. The company beat market expectations on earnings per share for the fourth quarter of 2020 even as gold production fell because of rising prices. In February, the firm hiked the quarterly dividend payment by a whopping 38%.

It remains to be seen how these companies weather the bear tailwinds in the coming months. Stock volatility in the past few years has pummeled entire investment portfolios in the past few years. The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, 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 124 percentage points since March 2017. Between March 2017 and February 26th 2021 our monthly newsletter’s stock picks returned 197.2%, vs. 72.4% for the SPY. Our stock picks outperformed the market by more than 124 percentage points (see the details here). We were also able to identify in advance a select group of hedge fund holdings that significantly underperformed the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 13% through November 16th. 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.

Photo by Ricardo Gomez Angel on Unsplash

With this context in mind, here is our list of the 10 best copper stocks to buy now. These were selected keeping in mind annual copper production, hedge fund sentiment, and the business fundamentals underlying each company.

Best Copper Stocks to Buy Now

10. Barrick Gold Corporation (NYSE: GOLD)

Number of Hedge Fund Holders: 49

Barrick Gold Corporation (NYSE: GOLD) is a mining firm that focuses on the extraction and development of gold and copper. It has operations in more than 10 countries around the world. It is placed tenth on our list of 10 best copper stocks to buy now. The stock has offered investors returns exceeding 2.8% over the past three months. In the first quarter of 2021, a surge in prices helped the firm with a 31% quarter-to-quarter increase in revenue from copper mines in Chile, Saudi Arabia and Zambia.

On June 4, Barrick Gold Corporation (NYSE: GOLD) Mark Bristow told the media that the company hoped to restart a mining operation in Papua New Guinea (PNG) under a new deal that would exploit the resources in the operation under a joint venture with PNG stakeholders.

At the end of the first quarter of 2021, 49 hedge funds in the database of Insider Monkey held stakes worth $1.3 billion in Barrick Gold Corporation (NYSE: GOLD), down from 53 the preceding quarter worth $1.7 billion.

Just like Freeport-McMoRan Inc. (NYSE: FCX), Rio Tinto Group (NYSE: RIO), and Newmont Corporation (NYSE: NEM), Barrick Gold Corporation (NYSE: GOLD) is one of the best copper stocks to buy now.

In its Q4 2020 investor letter, GoodHaven Capital Management, an asset management firm, highlighted a few stocks and Barrick Gold Corporation (NYSE: GOLD) was one of them. Here is what the fund said:

9. Teck Resources Limited (NYSE: TECK)

Number of Hedge Fund Holders: 30

Teck Resources Limited (NYSE:TECK) is a natural resources firm that engages in the mining of copper, zinc, and other metals. It is ranked ninth on our list of 10 best copper stocks to buy now. The stock has returned more than 102% to investors in the past twelve months. The firm has mining interests in many countries, including Australia, Chile, Ireland, Mexico, Peru, Turkey, and the United States, among others. The firm is one of the biggest copper producers in the world with copper mines in Canada and South America.

On May 26, investment advisory Deutsche Bank upgraded Teck Resources Limited (NYSE:TECK) stock to Buy from Hold with a price target of $30 on the back of growth potential with regards to the QB2 copper project and the returns it promised in the medium term.

Out of the hedge funds being tracked by Insider Monkey, Boston-based investment firm Arrowstreet Capital is a leading shareholder in Teck Resources Limited (NYSE:TECK) with 9.3 million shares worth more than $179 million.

Just like Freeport-McMoRan Inc. (NYSE: FCX), Rio Tinto Group (NYSE: RIO), and Newmont Corporation (NYSE: NEM), Teck Resources Limited (NYSE:TECK) is one of the best copper stocks to buy now.

8. Vale S.A. (NYSE: VALE)

Number of Hedge Fund Holders: 31

Vale S.A. (NYSE: VALE) is a metals mining company that concentrates on the production of iron ore, nickel, and other metals. The firm is one of the largest ones in Brazil and markets logistical services related to these metals in addition to mining and development. It is placed eighth on our list of 10 best copper stocks to buy now. The company’s shares have returned more than 109% to investors over the past twelve months. Last year, the firm produced almost 360,000 metric tons of copper.

On June 4, Vale S.A. (NYSE: VALE) halted production at two mines in the Minas Gerais region of Brazil after local officials evacuated people from nearby the site of Xingu dam. Brazilian officials have said that the dam is close to collapsing but Vale disputes this.

Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Vale S.A. (NYSE: VALE) with 38 million shares worth more than $661 million.

Just like Freeport-McMoRan Inc. (NYSE: FCX), Rio Tinto Group (NYSE: RIO), and Newmont Corporation (NYSE: NEM), Vale S.A. (NYSE: VALE) is one of the best copper stocks to buy now.

7. BHP Group (NYSE: BHP)

Number of Hedge Fund Holders: 18

BHP Group (NYSE: BHP) is an Australian natural resources firm with interests in petroleum, copper, iron, and coal. The firm owns a copper mine in Chile, as well as other copper-related assets elsewhere. It produced more than 1.3 million tons of copper in 2020. The firm owns a copper mine in South Australia. It is ranked seventh on our list of 10 best copper stocks to buy now. The stock has returned more than 43% to investors over the past year.

On June 11, BHP Group (NYSE: BHP) shares jumped close to 1% as the firm announced that workers at a copper mine in Chile had accepted work contracts, putting an end to rumors about a strike that could have hit the mine and global copper production.

Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in BHP Group (NYSE: BHP) with 7.9 million shares worth more than $553 million.

Just like Freeport-McMoRan Inc. (NYSE: FCX), Rio Tinto Group (NYSE: RIO), and Newmont Corporation (NYSE: NEM), BHP Group (NYSE: BHP) is one of the best copper stocks to buy now.

6. Turquoise Hill Resources Ltd. (NYSE: TRQ)

Number of Hedge Fund Holders: 13

Turquoise Hill Resources Ltd. (NYSE: TRQ) is a mineral exploration and development company. It is placed sixth on our list of 10 best copper stocks to buy now. The stock has returned more than 142% to investors in the past twelve months. The company concentrates on operations related to copper, gold, and silver. In 2020, the firm produced 149,631 tons of copper, beating guidance of 140,000 tons.

On May 12, Turquoise Hill Resources Ltd. (NYSE: TRQ) posted earnings results for the first quarter of 2021, reporting earnings per share of $1.18, beating market expectations by $0.63. The revenue over the period was more than $520 million, up 302% year-on-year.

At the end of the first quarter of 2021, 13 hedge funds in the database of Insider Monkey held stakes worth $575 million in Turquoise Hill Resources Ltd. (NYSE: TRQ), up from 12 in the previous quarter worth $374 million.

Just like Freeport-McMoRan Inc. (NYSE: FCX), Rio Tinto Group (NYSE: RIO), and Newmont Corporation (NYSE: NEM), Turquoise Hill Resources Ltd. (NYSE: TRQ) is one of the best copper stocks to buy now.

Click to continue reading and see 5 Best Copper Stocks to Buy Now.

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Disclose. None. 10 Best Copper Stocks to Buy Now is originally published on Insider Monkey.

MELBOURNE, Australia, Jun 21, 2021–(BUSINESS WIRE)–Rio Tinto will deploy the world’s first fully autonomous water trucks at its $2.6 billion Gudai-Darri iron ore mine in Western Australia’s Pilbara region. The new vehicles, primarily used for dust suppression on site, will enhance productivity by enabling mine operations to digitally track water consumption and reduce waste.

Developed through a successful collaboration with leading equipment manufacturer, Caterpillar, three water trucks will join Gudai-Darri’s fleet of Caterpillar heavy mobile equipment including autonomous haul trucks and production drills. The vehicle’s intelligent on-board system detects dry and dusty conditions on site, triggering the application of water to roads to keep them in good condition.

The refilling process is also completely automated with the water trucks recognising when it is time to refill, prompting them to self-drive to the water stand, park and top-up before returning to the field. They boast a 160,000-litre tank capacity, a 33 per cent increase on Rio Tinto’s largest water truck which has a tank capacity of 120,000-litres.

Once deployed, the water trucks will be integrated into Rio Tinto’s existing Autonomous Haulage System which has been shown to significantly improve safety by reducing the risks associated with operators working around heavy machinery.

Rio Tinto Iron Ore chief executive Simon Trott said "We have worked closely with Caterpillar to safely and successfully deploy the world’s first fully autonomous water truck. Water spraying is a vital part of mining operations and this new technology will improve productivity and reduce water usage across our operations.

"The continued expansion of our autonomous fleet helps improve safety and continues Rio Tinto’s efforts to adopt world-leading technology to enhance our operations and realise our vision of making Gudai-Darri one of the world’s most technologically advanced mines."

Caterpillar Resource Industries Group President Denise Johnson added "We are pleased to work with Rio Tinto to introduce the next innovation in mining automation. Rio continues to pioneer technology advancements and the water truck, working in conjunction with the autonomous hauling trucks and drills, will further accelerate Rio Tinto’s site performance. This is another important step in our continual journey in autonomous solutions for our customers."

Notes for editors

Gudai-Darri is 100 per cent owned by Rio Tinto, is located approximately 35 kilometres north-west of Rio Tinto’s Yandicoogina mine site, and about 110 kilometres from the town of Newman in the Pilbara region of Western Australia.

Construction continues to progress with production ramp-up on track for early 2022. Once complete, the mine will have an annual capacity of 43 million tonnes, underpinning production of the Pilbara Blend, Rio Tinto’s flagship iron ore product.

Rio Tinto’s relationship with Caterpillar extends over 50 years. Caterpillar was founded in 1925 and is an industry leading manufacturer of construction and mining equipment, diesel and natural gas engines as well as gas turbines and diesel-electric locomotives.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210621005358/en/

Contacts

media.enquiries@riotinto.com
riotinto.com
Follow @RioTinto on Twitter

Media Relations, United Kingdom
Illtud Harri
M +44 7920 503 600

David Outhwaite
T +44 20 7781 1623
M +44 7787 597 493

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

Media Relations, Australia
Jonathan Rose
T +61 3 9283 3088
M +61 447 028 913

Matt Chambers
T +61 3 9283 3087
M +61 433 525 739

Jesse Riseborough
T +61 8 6211 6013
M +61 436 653 412

Investor Relations, United Kingdom
Menno Sanderse
T: +44 20 7781 1517
M: +44 7825 195 178

David Ovington
T +44 20 7781 2051
M +44 7920 010 978

Clare Peever
M: +44 7788 967 877

Investor Relations, Australia
Natalie Worley
T +61 3 9283 3063
M +61 409 210 462

Amar Jambaa
T +61 3 9283 3627
M +61 4 7286 5948

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

Category: general

MELBOURNE, Australia, Jun 21, 2021–(BUSINESS WIRE)–Rio Tinto will deploy the world’s first fully autonomous water trucks at its $2.6 billion Gudai-Darri iron ore mine in Western Australia’s Pilbara region. The new vehicles, primarily used for dust suppression on site, will enhance productivity by enabling mine operations to digitally track water consumption and reduce waste.

Developed through a successful collaboration with leading equipment manufacturer, Caterpillar, three water trucks will join Gudai-Darri’s fleet of Caterpillar heavy mobile equipment including autonomous haul trucks and production drills. The vehicle’s intelligent on-board system detects dry and dusty conditions on site, triggering the application of water to roads to keep them in good condition.

The refilling process is also completely automated with the water trucks recognising when it is time to refill, prompting them to self-drive to the water stand, park and top-up before returning to the field. They boast a 160,000-litre tank capacity, a 33 per cent increase on Rio Tinto’s largest water truck which has a tank capacity of 120,000-litres.

Once deployed, the water trucks will be integrated into Rio Tinto’s existing Autonomous Haulage System which has been shown to significantly improve safety by reducing the risks associated with operators working around heavy machinery.

Rio Tinto Iron Ore chief executive Simon Trott said "We have worked closely with Caterpillar to safely and successfully deploy the world’s first fully autonomous water truck. Water spraying is a vital part of mining operations and this new technology will improve productivity and reduce water usage across our operations.

"The continued expansion of our autonomous fleet helps improve safety and continues Rio Tinto’s efforts to adopt world-leading technology to enhance our operations and realise our vision of making Gudai-Darri one of the world’s most technologically advanced mines."

Caterpillar Resource Industries Group President Denise Johnson added "We are pleased to work with Rio Tinto to introduce the next innovation in mining automation. Rio continues to pioneer technology advancements and the water truck, working in conjunction with the autonomous hauling trucks and drills, will further accelerate Rio Tinto’s site performance. This is another important step in our continual journey in autonomous solutions for our customers."

Notes for editors

Gudai-Darri is 100 per cent owned by Rio Tinto, is located approximately 35 kilometres north-west of Rio Tinto’s Yandicoogina mine site, and about 110 kilometres from the town of Newman in the Pilbara region of Western Australia.

Construction continues to progress with production ramp-up on track for early 2022. Once complete, the mine will have an annual capacity of 43 million tonnes, underpinning production of the Pilbara Blend, Rio Tinto’s flagship iron ore product.

Rio Tinto’s relationship with Caterpillar extends over 50 years. Caterpillar was founded in 1925 and is an industry leading manufacturer of construction and mining equipment, diesel and natural gas engines as well as gas turbines and diesel-electric locomotives.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210621005358/en/

Contacts

media.enquiries@riotinto.com
riotinto.com
Follow @RioTinto on Twitter

Media Relations, United Kingdom
Illtud Harri
M +44 7920 503 600

David Outhwaite
T +44 20 7781 1623
M +44 7787 597 493

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

Media Relations, Australia
Jonathan Rose
T +61 3 9283 3088
M +61 447 028 913

Matt Chambers
T +61 3 9283 3087
M +61 433 525 739

Jesse Riseborough
T +61 8 6211 6013
M +61 436 653 412

Investor Relations, United Kingdom
Menno Sanderse
T: +44 20 7781 1517
M: +44 7825 195 178

David Ovington
T +44 20 7781 2051
M +44 7920 010 978

Clare Peever
M: +44 7788 967 877

Investor Relations, Australia
Natalie Worley
T +61 3 9283 3063
M +61 409 210 462

Amar Jambaa
T +61 3 9283 3627
M +61 4 7286 5948

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

Category: general

Rio Tinto and other mining giants dragged stocks in London lower on Monday, amid fears that commodity prices were near the top of a cycle and weakness in both iron ore and copper.

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of BHP Group (ASX:BHP) as an investment opportunity by taking the forecast future cash flows of the company and discounting them back to today's value. We will take advantage of the Discounted Cash Flow (DCF) model for this purpose. Models like these may appear beyond the comprehension of a lay person, but they're fairly easy to follow.

Remember though, that there are many ways to estimate a company's value, and a DCF is just one method. For those who are keen learners of equity analysis, the Simply Wall St analysis model here may be something of interest to you.

See our latest analysis for BHP Group

Crunching the numbers

We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Generally the first stage is higher growth, and the second stage is a lower growth phase. To begin with, we have to get estimates of the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.

A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we need to discount the sum of these future cash flows to arrive at a present value estimate:

10-year free cash flow (FCF) estimate

("Est" = FCF growth rate estimated by Simply Wall St)
Present Value of 10-year Cash Flow (PVCF) = US$88b

The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 1.9%. We discount the terminal cash flows to today's value at a cost of equity of 7.2%.

Terminal Value (TV)= FCF₂₀₃₀ × (1 + g) ÷ (r – g) = US$9.4b× (1 + 1.9%) ÷ (7.2%– 1.9%) = US$182b

Present Value of Terminal Value (PVTV)= TV / (1 + r)¹⁰= US$182b÷ ( 1 + 7.2%)¹⁰= US$91b

The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is US$179b. The last step is to then divide the equity value by the number of shares outstanding. Relative to the current share price of AU$46.5, the company appears about fair value at a 1.7% discount to where the stock price trades currently. Remember though, that this is just an approximate valuation, and like any complex formula – garbage in, garbage out.

The assumptions

We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. If you don't agree with these result, have a go at the calculation yourself and play with the assumptions. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at BHP Group as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.2%, which is based on a levered beta of 1.109. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.

Moving On:

Although the valuation of a company is important, it shouldn't be the only metric you look at when researching a company. It's not possible to obtain a foolproof valuation with a DCF model. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. For example, changes in the company's cost of equity or the risk free rate can significantly impact the valuation. For BHP Group, we've compiled three fundamental factors you should consider:

1. Risks: Be aware that BHP Group is showing 2 warning signs in our investment analysis , and 1 of those can't be ignored…

2. Future Earnings: How does BHP's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.

3. Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered!

PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the ASX every day. If you want to find the calculation for other stocks just search here.

This article by Simply Wall St is general in nature. 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.

Investors might want to bet on Intrepid Potash (IPI), as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates — one of the most powerful forces impacting stock prices — has triggered this rating change.

A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate — the consensus measure of EPS estimates from the sell-side analysts covering the stock — for the current and following years.

Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.

As such, the Zacks rating upgrade for Intrepid Potash is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.

Most Powerful Force Impacting Stock Prices

The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.

For Intrepid Potash, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.

Harnessing the Power of Earnings Estimate Revisions

Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.

Earnings Estimate Revisions for Intrepid Potash

For the fiscal year ending December 2021, this potash and fertilizer producer is expected to earn $0.85 per share, which is a change of 155.9% from the year-ago reported number.

Analysts have been steadily raising their estimates for Intrepid Potash. Over the past three months, the Zacks Consensus Estimate for the company has increased 182.2%.

Bottom Line

Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of Intrepid Potash to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

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Intrepid Potash, Inc (IPI) : Free Stock Analysis Report
 
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Photo by Dominik Vanyi on Unsplash

As the U.S. economy grows at its fastest rate since the 1980s, mining companies are benefiting from a price surge in metals like copper, nickel and aluminum. Behind that price surge is the anticipation of renewed investment in infrastructure and manufacturing, two sectors where mined resources are key components of building and developing new technology.

American Pacific Mining (OTCQB: USGDF), the Canadian-based company focused on copper, gold and silver exploration in the western United States, is one of the rising companies in the space that’s been attracting new investors interested in adding mining stocks to their portfolio. Key acquisitions and a joint venture agreement with the major mining company, Rio Tinto (OTCMKTS: RTNTF) are among the main factors driving investor interest in the high-growth potential stock.

Rio Tinto Began Drilling at the Madison Copper Gold Project

Kennecott Exploration, a division of Rio Tinto, is funding the exploration of the past-producing Madison Copper Gold Project in Montana this year after results from previous drilling campaigns demonstrated high-grade copper and gold potential at the project. The Madison project has a rich history of high grade production, churning out 2.7B pounds of copper with grades ranging from 20% to over 35% and 7,570 ounces of gold at 16.1 grams per tonne between 2008 and 2012. Industry insiders know that high grades like these are phenomenal. American Pacific inherited the earn-in agreement and option to joint venture with Rio Tinto on Madison when it acquired the Madison project last year.

This partnership with a major mining company like Rio Tinto is one of the key signals investors look for in evaluating smaller cap mining stocks. Founded in 1873, Rio Tinto is one of the world’s largest mining companies and owns and operates mines, mills and other facilities around the world. A company as established as Rio Tinto is known for doing significant due diligence before agreeing to be involved in a project. That it’s chosen to invest so much time and capital into the Madison project is a strong testament to the potential at American Pacific Mining’s flagship asset.

Not only does it signal the project’s potential, but it also mitigates much of the risks typically associated with exploration projects. As the operator, Rio Tinto is not only covering the cost of drilling, but it is drilling the project as well, lending its extensive operational expertise, both of which free the junior exploration company from the burden of the financing risk and operation risk for this project.

Investors who buy shares of American Pacific Mining see this as an opportunity to benefit from the added reassurance of a major mining company partnership while paying junior mining stock prices.

Michael Gentile Becomes Strategic Investor in American Pacific Mining

One investor of note is Michael Gentile, CFA. The former portfolio manager for the $2 billion Montreal-based Formula Growth Fund bought a near 20% stake in the company earlier this year, becoming a strategic investor.

During his 15-year tenure at the Formula Growth Fund, Gentile focused on finding promising junior mining and natural resource companies to add to the fund. Since retiring, Gentile has become an active strategic investor, owning a top 5 stake in more than 15 small cap mining companies.

The latest small cap mining company to be added to his portfolio is American Pacific Mining, but the strategic investor with his decades of mining investing expertise is also a strategic advisor to Arizona Metals (OTCMKTS: AZMCF). Headquartered in Toronto, Arizona Metals is a mineral exploration company whose stock has skyrocketed in the past 6 months from $0.76 at the close of 2020 to over $4 in June amid news of new gold-zinc discoveries and the close of a $21,000,000 bought deal offering.

With the combined track record of due diligence in identifying small cap mining stocks for the Formula Growth Fund and the success of the exploration companies currently in his portfolio, Michael Gentile’s investment in American Pacific Mining is seen by many investors as another strong signal of the junior exploration company’s growth potential.

For investors who are new to mining stocks, finding the right ones for your portfolio can be a daunting task as mining company business models are drastically different from other businesses and the mining industry can be hard to evaluate without extensive expertise in the industry. Tracking the investing activities of major mining companies like Rio Tinto that do extensive due diligence before investing in a project and aligning with strategic investors possessing insider knowledge of the industry are two of the best ways to work around those challenges.

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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Friday, June 18, 2021

The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Abbott Laboratories (ABT), Bank of America (BAC), and PayPal Holdings (PYPL). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

You can see all of today’s research reports here >>>

Shares of Abbott have underperformed the Zacks Medical Products industry in the year-to-date period (+1.8% vs. +3.8%). The Zacks analyst believes that the branded generics and international diabetes businesses should drive growth in the coming quarters. Further, new product launches and acquisitions are likely to boost Abbott’s sales further.

The company posted robust year-over-year improvements in the first quarter. It registered organic sales growth across most operating segments. Further, Diabetes Care sales were strong on the back of solid worldwide adoption of FreeStyle Libre. However, the company’s disappointing performance in the Pediatric Nutrition unit remains a major concern.

(You can read the full research report on Abbott here >>>)

Bank of America shares have gained +31.4% over the last six months against the Zacks Major Regional Banks industry’s gain of +27.9%. The Zacks analyst believes that opening of new branches, enhanced digital offerings, strategic acquisitions and efforts to manage expenses will continue to support the company’s profitability in the near term.

Moreover, a strong balance sheet and liquidity position are expected to continue aiding financials. However, lower interest rates and the Federal Reserve signaling no near-term chance of change in the same are expected to keep hurting the bank’s margins and interest income.

(You can read the full research report on Bank of America here >>>)

Shares of PayPal have gained +14.7% in the past three months against the Zacks Internet Software industry’s gain of +1%. The Zacks analyst believes that PayPal is benefiting from robust growth in total payments volume on the back of increasing net new active accounts. Moreover, strengthening customer engagement on the company’s platform is another positive.

Solid momentum of core peer to peer and PayPal Checkout experiences is a tailwind. Also, accelerating transaction revenues of PayPal are likely to continue driving revenues. However, increasing credit loss reserves due to macroeconomic projections on account of the ongoing pandemic remains a matter of concern.

(You can read the full research report on PayPal here >>>)

Other noteworthy reports we are featuring today include The Procter & Gamble (PG), BHP Group (BHP) and Boeing (BA).

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

Sheraz Mian

Director of Research

Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>

Today's Must Read

Abbott (ABT) Base Business Rebounds, Drop in FY View Ails

Expense Saving Supports Bank of America (BAC) Amid Low Rates

PayPal (PYPL) Benefits From Increasing Total Payment Volume

Featured Reports

P&G's (PG) Productivity & Cost Savings Plan to Aid Margins

Per the Zacks analyst, P&G has been witnessing cost-savings and efficiency gains across all its business driven by the productivity program.

Liquidity, High Iron Prices Aid BHP Group (BHP), Costs Hurt

The Zacks analyst believes BHP's strong cash flow, focus on lowering debt, higher iron prices, and efforts to make operations more efficient will drive growth despite higher costs.

Strategic Mergers Aid Boeing (BA), Low 737 Deliveries Hurt

Per the Zacks Analyst, strategic mergers made by Boeing, such as overtaking KLX, boost growth. However, low 737 deliveries as a result of the worldwide grounding of 737 Max jets raises concerns.

ConocoPhillips (COP) Banks on Oil-Rich Permian Footprint

The Zacks analyst expects ConocoPhillips to boost production from lucrative oil resources in the prolific Permian Basin.

New Product Development, Wide Market Reach Aid Eaton (ETN)

Per the Zacks analyst, Eaton's operations in 175 countries across the world and the development of new products through ongoing R&D investments will continue to drive demand and boost profitability.

Strategic Initiatives Benefit Aon (AON), Rising Debts Hurt

Per the Zacks analyst, buyouts and collaborations have enhanced the company's capabilities, which in turn, has led to bottom-line growth.

T. Rowe (TROW) Rides on Organic Growth Moves Amid High Costs

As per Zacks analyst, organic growth-focused initiatives and a debt-free position along with substantial liquidity might continue to support T. Rowe Price.

New Upgrades

International Paper (IP) Rides on Favorable Demand, Buyouts

The Zacks analyst expects International Paper to gain from elevated packaging demand as well as focus on strategic acquisitions to strengthen its packaging business.

Western Digital (WDC) Rides on High-Capacity HDD Adoption

Per the Zacks analyst, Western Digital is benefiting from demand for high-capacity energy-assisted drives (16 and 18 terabytes) and its second-generation NVMe enterprise solid-state drives (SSDs).

Strength in E-Commerce Drives PVH Corp's (PVH) Top Line

Per the Zacks analyst, PVH Corp is gaining from solid online sales in all regions and brands, even after stores reopened. Notably, revenues in digital commerce unit surged 66% year over year in Q1.

New Downgrades

Debt Maturity Profile to Weigh on Canadian Natural (CNQ)

The Zacks analyst is worried that the company is set to face debt maturities each year out till 2027, thereby exposing it to refinancing risk at a time of extremely volatile commodity prices.

Stiff Competitive Landscape, Forex Woes Ail Abiomed (ABMD)

The Zacks analyst is worried about Abiomed facing fierce competition in the field of treatments for heart-related diseases. Unfavorable currency movements are an added issue.

Cat Loss Exposure, Rising Expenses Hurt CNA Financial (CNA)

Per the Zacks analyst, CNA Financial's exposure to catastrophe loss induces underwriting volatility thus profitability while rising expenses affecting net operating income concerns.

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
 
PayPal Holdings, Inc. (PYPL) : Free Stock Analysis Report
 
Procter & Gamble Company The (PG) : Free Stock Analysis Report
 
BHP Group Limited Sponsored ADR (BHP) : Free Stock Analysis Report
 
Bank of America Corporation (BAC) : Free Stock Analysis Report
 
The Boeing Company (BA) : Free Stock Analysis Report
 
Abbott Laboratories (ABT) : Free Stock Analysis Report
 
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Zacks Investment Research

MELBOURNE, Jun 17, 2021–(BUSINESS WIRE)–Rio Tinto has appointed Peter Cunningham as Chief Financial Officer with immediate effect. Peter, who has been Interim Chief Financial Officer since 1 January 2021, will also join the Rio Tinto Board as an executive director at the same time.

Peter was previously Group Controller and has held a number of senior financial and non-financial leadership positions across Rio Tinto in Australia and the UK. In a career spanning 28 years with Rio Tinto, he has held roles including Global Head of Health, Safety, Environment & Communities; Head of Energy and Climate Strategy; and Head of Investor Relations. Prior to joining Rio Tinto, Peter qualified as a chartered accountant.

Rio Tinto chief executive Jakob Stausholm said "I am delighted to confirm Peter in the role and, having worked closely with him for a number of years, I know he is the ideal person to be our Chief Financial Officer. His detailed knowledge of the company and of the financial and non-financial drivers of our industry will be invaluable as we continue to strengthen Rio Tinto."

Rio Tinto chairman Simon Thompson said "I look forward to Peter joining the Rio Tinto Board and know from experience that his deep understanding of Rio Tinto and commitment to disciplined capital allocation will serve shareholders well and enrich our Board discussions."

Rio Tinto confirms that there are no matters to be disclosed pursuant to Rule 9.6.13(1)-(6) of the Listing Rules of the UK Listing Authority.

Classification: 3.1. Additional regulated information required to be disclosed under the laws of a Member State.

Notes to editors

Peter Cunningham will be issued a standard Rio Tinto executive contract, which includes a 12-month notice period. The remuneration package is in line with our Remuneration Policy approved by shareholders in 2021, and is comprised of the following elements:

• A base salary of £700,000.

• Target annual bonus opportunity at 100 per cent of base salary (with a maximum opportunity of 200 per cent of base salary).

• A long-term incentive plan award of up to 400 per cent of base salary with the first grant to be made in 2022.

• A company pension contribution or a cash allowance in lieu of pension equal to 14 per cent of base salary.

• Other benefits will include company provided health care coverage and eligibility to participate in the all-employee share plans.

• A minimum shareholding requirement of 300 per cent of base salary applies.

Further detail will be disclosed in the 2021 Directors’ Remuneration Report.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210616006071/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, Australia

Jonathan Rose
M +61 447 028 913

Matt Chambers
M +61 433 525 739

Jesse Riseborough
M +61 436 653 412

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

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

Category: general

MELBOURNE, June 17 (Reuters) – Alcoa Corp detailed plans on Thursday for a "step change" in alumina production that would allow it to cut 70% of emissions from the carbon intensive process by tapping renewable energy.

Among Australia's emissions intensive exports, alumina and aluminium would be the most at risk from carbon border tariffs that the European Union is set to announce in July, says think tank the Australia Institute.

"It's going to take to around 2030 or so before you get the technology ready to roll out…lots of planning will be needed to make this come together," company official Ray Chatfield told a conference in the city of Perth.

The Australian government has issued grants to help decarbonise the alumina refining process by which aluminium is made and which contributes about 24% of the country's direct manufacturing emissions, or more than 14 million tonnes of carbon dioxide in 2019, government agency data show.

But Australia could leverage its abundant renewable power, providing a strategic advantage for building out more green alumina production, Chatfield, Alcoa's global technical manager for refining energy, said.

The process would replace the natural gas used to generate high-pressure steam with compressors that would capture waste vapour to generate heat. Such compressors would be powered by renewable energy supplied from a power grid.

The process would also cut water use by about 25 gigalitres per year, he said.

About 1,200 MW of new renewable power is required to fully implement the mechanical vapour recompression (MVR) process at Australia’s six alumina refineries, three run by Alcoa, two by Rio Tinto and one by South32, Chatfield said.

Last month, Alcoa received a government grant to test the technology at scale at its Wagerup refinery in Western Australia by the end of 2023.

But adapting existing refineries for the new process would call for significant investment of $2 billion to $5 billion each, and the technology needs to be proved before it can be adopted, Chatfield added.

This week, Rio Tinto said it would look to cut carbon from the calcination process, which contributes a further 24% of process emissions, by replacing natural gas with hydrogen. The remaining 6% of emissions comes from power imports. (Reporting by Melanie Burton; Editing by Clarence Fernandez)

VANCOUVER, British Columbia, June 17, 2021 (GLOBE NEWSWIRE) — American Lithium Corp. (“American Lithium” or the “Company”) (TSX-V:LI | OTCQB:LIACF | Frankfurt:5LA1) is pleased to provide an update on recent developments at its Tonopah Lithium Claims Project located close to Tonopah, Nevada (“TLC”).

Highlights:

• The U.S. Bureau of Land Management (BLM) has confirmed that American Lithium’s Plan of Operations, submitted in January 2021, (the “PO”) has been accepted for review and is deemed complete

• Biological and Cultural Baseline Surveys prepared by American Lithium, in conjunction with EM Strategies Inc. of Reno, conducted in 2020 confirmed that “no species or habitat protected under the Endangered Species Act are present within the Project Area”.

• BLM has confirmed that a standard Environmental Assessment (“EA”) is sufficient for approval of this PO. Approval of PO anticipated within 3 months, enabling next phase of development.

• Next phase at TLC to include a drill program of up to 95 drill holes to extend, expand and upgrade existing resource and complete up to 5 test pits for metallurgical bulk sampling.

• Company remains focused on becoming a secure, sustainable, environmentally responsible supplier of battery-grade lithium products for the North American Battery / EV markets.

• Strong alignment with 100-Day Review focused on strengthening Critical Supply Chains, including domestic lithium supply, recently announced by The White House.

Simon Clarke, Chief Executive Officer & Director of American Lithium stated, “We are very pleased that the BLM has accepted the Company’s Plan of Operations as complete. This is a key step towards the approval of the PO and the launch of the next phase of development and operations at TLC. The proactive and early steps taken by the Company to ensure that no major environmental issues exist at TLC are helping us move the project ahead as quickly as possible and differentiate us positively from several other claystone projects in Nevada.

At the same time, securing water rights for TLC early in the process, while recognizing the need to be as water efficient as possible and to minimize impacts to the land and water surrounding TLC, has also shown our commitment to be as environmentally responsible as possible and the retaining of Minviro further underlines this commitment. Our focus is not only on implementing a flowsheet to produce battery-grade lithium products at TLC which is as cost-effective as possible but also one that minimizes any potential environmental impacts. Our flow-sheet design work and process engineering continue at a fast pace while we await approval of the PO and the launch of the next phase of drilling.

TLC’s unique characteristics provide it with the potential to be amongst the best lithium projects globally from a cost and environmental perspective.”

TLC Project Update

Plan of Operations
As reported on January 13^th, 2021, the Company filed an Application for a Plan of Operations (“PO”) for its next phase of development and operations at TLC. This PO increases the surface disturbance allowance to 168 acres in two phases, 84.5 acres in Phase 1, and 78.5 acres in Phase 2, and includes all necessary descriptions of environmental and reclamation planning for the next phase of operations, which includes:

• Up to 95 new drill holes to further understand, characterize and high-grade the extensive TLC resource and to enable resource expansion to the north, south and west of the current resource and to upgrade existing resource classifications. Click here for latest TLC Plan of Operations Map.

• Up to 5 large test pits planned to provide bulk sample material for metallurgical testing as the Company moves to finalize and optimize its flow-sheet design to produce battery-grade lithium products and to maximize project economics while minimizing environmental footprint.

• One 5-acre laydown area intended for future pilot plant work for feasibility phase.

• Biological and cultural surveys that can be used for future permitting work for feasibility phase and future mine plan, without additional cost.

The American Lithium team prioritized all environmental and cultural work early on to fast-track the project towards this next phase of drilling and testing. The biological surveys conducted for the PO Application found no species or habitat protected under the ESA (Endangered Species Act) within the project area, expediting the Company’s ability to move towards this next phase of development. Information gained under the proposed new drilling / testing program will lead to finalization of a preliminary economic assessment (“PEA”) and a mine plan.

The BLM has accepted and deemed the PO complete with no significant issues. At this stage of development, and based on the environmental work conducted to date, the BLM has commenced an Environmental Assessment (EA) for the TLC Project as opposed to the more arduous Environmental Impact Study (EIS). With the PO application now being deemed complete and the EA commenced, the Company can now focus on the National Environmental Policy Act (NEPA) requirements for the permitting of future phases of the TLC project.

Life Cycle Assessment – Minviro Sustainability Consultants
In addition to the fact that the TLC Project has no endangered species or plants, the characteristics of the clays-hosted lithium mineralization also provide several environmental advantages for the recovery of lithium products. The mineralization is near surface, easy to mine and highly leachable.

American Lithium has retained Minviro Ltd (“Minviro”) to complete a Life Cycle Assessment for the production of battery-grade lithium products at TLC, integrating environmental impact data into the decision-making process as the Company looks to finalize and optimize its flow-sheet design. The sustainability expertise provided by the Minviro life cycle assessment will be a huge step in ensuring that the flow-sheet design selected leverages the unique characteristics of TLC claystone mineralization into the best lithium recovery process from an environmental perspective.

Minviro, a Registered Sustainability Consultancy headquartered in London, England, is a team composed of industry experts on environmental impacts in the mining industry. Robert Pell, PhD., Founder and CEO at Minviro, holds a degree on life cycle assessment of critical metal projects, positioning him as a global expert in determining the impacts of various mining operations and processing methods. The Minviro team is rounded out by a team of experienced engineers and scientists who are passionate about improving the environmental performance of critical global resource projects.

Qualified Person
Mr. Ted O’Connor, P.Geo., a Director of American Lithium, and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical geological information contained in this news release.

About American Lithium
American Lithium 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.

Please watch our informative project update videos and related background information at https://www.americanlithiumcorp.com

For more information, please contact the Company at info@americanlithiumcorp.com or visit our website at www.americanlithiumcorp.com. 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:

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 press release.

Cautionary Statement Regarding Forward Looking Information
This news release contains certain forward-looking information and forward-looking statements (collectively “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the plans, objectives and advancement of the TLC, Falchani and Macusani Projects (the “Projects”), exploration drilling plans, in-fill and expansion drilling plans, results of exploration and development plans, expansion of resources and testing of new deposits, environmental and social community permitting, and any other statements regarding the business plans, expectations and objectives of American Lithium. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend", “indicate”, “scheduled”, “target”, “goal”, “potential”, “subject”, “efforts”, “option” and similar words, or the negative connotations thereof, referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management are not, and cannot be, a guarantee of future results or events. Although American Lithium believes that the current opinions and expectations reflected in such forward-looking statements are reasonable based on information available at the time, undue reliance should not be placed on forward-looking statements since American Lithium can provide no assurance that such opinions and expectations will prove to be correct. All forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including risks, uncertainties and assumptions related to: American Lithium’s ability to achieve its stated goals, including the anticipated benefits of the acquisition of Plateau Energy Metals Inc. (“Plateau”); the estimated costs associated with the advancement of the Projects; risks and uncertainties relating to the COVID-19 pandemic and the extent and manner to which measures taken by governments and their agencies, American Lithium or others to attempt to reduce the spread of COVID-19 could affect American Lithium, which could have a material adverse impact on many aspects of American Lithium’s businesses including but not limited to: the ability to access mineral properties for indeterminate amounts of time, the health of the employees or consultants resulting in delays or diminished capacity, social or political instability in Peru which in turn could impact American Lithium’s ability to maintain the continuity of its business operating requirements, may result in the reduced availability or failures of various local administration and critical infrastructure, reduced demand for the American Lithium’s potential products, availability of materials, global travel restrictions, and the availability of insurance and the associated costs; risks related to the certainty of title to the properties of American Lithium, including the status of the “Precautionary Measures” filed by American Lithium’s subsidiary Macusani Yellowcake S.A.C. (“Macusani”), the outcome of the administrative process, the judicial process, and any and all future remedies pursued by American Lithium and its subsidiary Macusani to resolve the title for 32 of its concessions; risks regarding the ongoing Ontario Securities Commission regulatory proceedings; the ongoing ability to work cooperatively with stakeholders, including but not limited to local communities and all levels of government; the potential for delays in exploration or development activities due to the COVID-19 pandemic; the interpretation of drill results, the geology, grade and continuity of mineral deposits; the possibility that any future exploration, development or mining results will not be consistent with our expectations; risks that permits will not be obtained as planned or delays in obtaining permits; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages, strikes and loss of personnel) or other unanticipated difficulties with or interruptions in exploration and development; risks related to commodity price and foreign exchange rate fluctuations; risks related to foreign operations; the cyclical nature of the industry in which American Lithium operates; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global economic environment and the effects upon the global market generally, and due to the COVID-19 pandemic measures taken to reduce the spread of COVID-19, any of which could continue to negatively affect global financial markets, including the trading price of American Lithium’s shares and could negatively affect American Lithium’s ability to raise capital and may also result in additional and unknown risks or liabilities to American Lithium. Other risks and uncertainties related to prospects, properties and business strategy of American Lithium are identified in the “Risks and Uncertainties” section of Plateau’s Management’s Discussion and Analysis filed on January 19, 2021, in the “Risk Factors” section of American Lithium’s Management’s Discussion and Analysis filed on January 29, 2021, and in recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements. American Lithium undertakes no obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Cautionary Note Regarding Macusani Concessions Thirty-two of the 151 concessions held by American Lithium’s subsidiary Macusani, are currently subject to Administrative and Judicial processes (together, the “Processes”) in Peru to overturn resolutions issued by INGEMMET and the Mining Council of MINEM in February 2019 and July 2019, respectively, which declared Macusani’s title to 32 of the concessions invalid due to late receipt of the annual validity payments. In November 2019, Macusani applied for injunctive relief on 32 concessions in a Court in Lima, Peru and was successful in obtaining such an injunction on 17 of the concessions including three of the four concessions included in the Macusani Uranium Project PEA. The grant of the Precautionary Measure (Medida Cautelar) has restored the title, rights and validity of those 17 concessions to Macusani until a final decision is obtained at the last stage of the judicial process. A Precautionary Measure application was made at the same time for the remaining 15 concessions and was ultimately granted by a Court in Lima, Peru on March 2, 2021 which has also restored the title, rights and validity of those 15 remaining concessions to Macusani, with the result being that all 32 concessions are now protected by Precautionary Measure (Medida Cautelar) until a final decision on this matter is obtained at the last stage of the judicial process. A final date for the last stage of the judicial process has not yet been set. If American Lithium’s subsidiary Macusani does not obtain a successful resolution of the Processes, its title to the concessions could be revoked.

VANCOUVER, British Columbia, June 17, 2021 (GLOBE NEWSWIRE) — Search Minerals Inc. (“Search” or the “Company”) (TSXV: SMY), is pleased to announce that it has signed an Option Agreement (the “Agreement”) with United Gold Inc, Aubrey Budgell, and Donna Lewis, (collectively, the “Vendors”) for an option (the “Option”) to acquire an undivided 100% interest in and to certain claims owned by the Vendors known as the Two Tom Property (the “Property”).

In order to maintain and exercise the Option, Search is required to make cash payments to the Vendors totalling $200,000 and issue 1,600,000 common shares (the “Shares”) in accordance with the following schedule:

Cash Payments

$40,000 on the date the TSX Venture Exchange accepts the Agreement for filing (the “Acceptance Date”);
$50,000 before the first anniversary of the Acceptance Date;
$50,000 before the second anniversary of the Acceptance Date; and
$60,000 on the third anniversary of the Acceptance Date.

Share Issuances

400,000 Shares on the Acceptance Date;
400,000 Shares before the first anniversary of the Acceptance Date;
400,000 Shares before the second anniversary of the Acceptance Date; and
400,000 Shares before the third anniversary of the Acceptance Date.

If Search exercises the Option and acquires an undivided 100% legal and beneficial right, title and interest in and to the Property, the Vendors will thereafter be entitled to a 3% Net Smelter Returns royalty with respect to the Property (the “NSR Royalty”), payable upon the commencement of commercial production, provided that Search will have the right to purchase from the Vendors two-thirds of the NSR Royalty upon payment of the sum of $2,000,000 to the Vendors at any time.

The Property consists of two licenses (027378M and 016522M) totalling 20 claims (4 square kilometres or 400 ha). These two licenses collectively encompass the Two Tom Lake Be-Nb-REE resource. This acquisition further enhances the Company’s strong position in the Red Wine REE (Rare Metal) District in west-central Labrador.

No finder’s fee was payable in connection with the Agreement, and the Agreement is subject to TSX Venture Exchange acceptance.

For further information, please contact:

Greg Andrews
President and CEO
Tel: 604-998-3432
E-mail: info@searchminerals.ca

About Search Minerals Inc.

Led by a proven management team and board of directors, Search is focused on finding and developing resources within the emerging Critical Rare Earth Element (“CREE”) District of South East Labrador. The Company controls a belt 63 km long and 2 km wide including its 100% interest in the FOXTROT and DEEP FOX Projects, which are road accessible and at tidewater. Exploration efforts have advanced FOX MEADOW, AWESOME FOX and SILVER FOX as new CREE prospects very similar to and in close proximity to FOXTROT and DEEP 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, and from the Atlantic Canada Opportunity Agency. We have completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining.

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.

VANCOUVER, British Columbia, June 17, 2021 (GLOBE NEWSWIRE) — Search Minerals Inc. (“Search” or the “Company”) (TSXV: SMY), is pleased to announce that it has signed a binding letter agreement (the “Letter Agreement” ) with Roland Quinlan and Eddie Quinlan (collectively, the “Vendors”) for an option (the “Option”) to acquire an undivided 100% interest in and to certain claims owned by the Vendors known as the Mann#1, and another claim proximal to Two Tom Lake, (the “Property”).

In order to maintain and exercise the Option, Search is required to make cash payments to the Vendors totalling $200,000 and issue 1,600,000 common shares (the “Shares”) in accordance with the following schedule:

Cash Payments

$20,000 on the date the TSX Venture Exchange accepts the Letter Agreement for filing (the “Acceptance Date”);
$30,000 before the first anniversary of the Acceptance Date;
$60,000 before the second anniversary of the Acceptance Date;
$60,000 before the third anniversary of the Acceptance Date; and
$30,000 before the fourth anniversary of the Acceptance Date.

Share Issuances

400,000 Shares on the Acceptance Date;
400,000 Shares before the first anniversary of the Acceptance Date;
400,000 Shares before the second anniversary of the Acceptance Date;
300,000 Shares before the third anniversary of the Acceptance Date; and
100,000 Shares before the fourth anniversary of the Acceptance Date.

Search will grant the Vendors a 3.0% Net Smelter Return Royalty (“NSR”) on the Property. Search will have the right to purchase 2.5% of the NSR at any time for $2,000,000

The Property consists of two licenses, 027380M (4 claims) and 027384M (20 claims), totalling 24 claims, that equal 6 square kilometres (600 ha.). License 027380M encompasses the Mann #1 Be-Nb-REE mineralized zone. License 027384M is proximal to the Two Tom Lake Be-Nb-REE resource. The acquisition of these two properties further enhances the Company’s strong position in the Red Wine REE (Rare Metal) District in west-central Labrador.

No finder’s fee was payable in connection with the Letter Agreement, and the Letter Agreement is subject to TSX Venture Exchange acceptance.

For further information, please contact:

Greg Andrews
President and CEO
Tel: 604-998-3432
E-mail: info@searchminerals.ca

About Search Minerals Inc.

Led by a proven management team and board of directors, Search is focused on finding and developing resources within the emerging Critical Rare Earth Element (“CREE”) District of South East Labrador. The Company controls a belt 63 km long and 2 km wide including its 100% interest in the FOXTROT and DEEP FOX Projects, which are road accessible and at tidewater. Exploration efforts have advanced FOX MEADOW, AWESOME FOX and SILVER FOX as new CREE prospects very similar to and in close proximity to FOXTROT and DEEP 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, and from the Atlantic Canada Opportunity Agency. We have completed two pilot plant operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO concentrate for separation and refining.

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.

Southern Copper Corporation SCCO has various organic growth projects up its sleeve that will help the company in achieving its target of producing 1.9 million tons (Mt) by 2028. The will aid the company capitalize on the surge in demand for the metal triggered by the global focus on lower-carbon emissions. Backed by world class assets and its incessant focus on cost efficiency, the company is poised well for growth in the long haul.

Through the years, the company’s strong financial discipline has enabled it to make investments in its asset portfolio. It currently has the largest copper reserves in the industry at 67.7 Mt outscoring peers like FreeportMcMoRan Inc. FCX, Codelco and BHP Group BHP with copper reserves of 52.6Mt, 46.6 Mt and 44.4 Mt, respectively.

Roadmap to Copper Production of 1.9 Mt

The road from now to achieving production of 1.9 million tons will be a bit bumpy at the beginning, as the company anticipates lower grades to impact production in 2021 and 2022. However, 2023 is expected to be an inflation year with copper production expected to reach 1,031,000 tons. This will be made possible by the Peruvian production coming back on track and new production on projects of Pilares, El Pilar and Buenavista zinc concentrators.

Southern Copper operates high-quality, world-class assets in investment grade countries, such as Mexico and Peru. Including the Michiquillay ($2.5 billion) and Los Chancas ($2.6 billion) projects, its total investment program in Peru runs to $7.9 billion. Peru is currently the second largest producer of copper globally and holds 13% of the world’s copper reserves. Peru’s national output is expected grow to 225000 tons in 2022 and 245000 tons in 2023, per Trading Economics.

In Mexico, the company has a planned investment of $413 million in the Buenavista Zinc — Sonora project. It is expected to be completed in 2023 and will double the company’s zinc production capacity. An investment of $159 million is estimated for Pilares – Sonora project in Mexico, which comprises an open pit mine operation with an annual production capacity of 35,000 tons of copper in concentrates. It is expected to begin production in first-quarter 2022. This project will significantly improve the overall mineral ore grade. The low capital intensity copper greenfield project, El Pilar project, with an investment of $310 million is expected to be completed in 2023. It will add 36,000 tons of copper annually. The El Arco – Baja California project with an estimated capital budget of $2.9 billion is anticipated to have annual production of 190,000 tons of copper and 105,000 ounces of gold. These projects will help the company attain production target of 1.9 million tons by 2028.

High Copper Prices & Low Cost to Boost Margins

Copper prices have gained this year on pickup in global industrial activity and recovery in automobile industry. Further, the $2 trillion infrastructure package announced by President Biden will significantly increase the demand for copper, which is a fundamental element at green energy facilities. Thus, the long-term outlook for copper is positive as copper demand is expected to grow, driven by electric vehicles and renewable energy and infrastructure investments.

However, grade decline, rising input costs, water constraints and scarcity of high-quality future development opportunities continue to constrain the industry’s supply. This demand supply imbalance will push copper prices north. Backed by its endeavors to increase low-cost production, the company’s copper production cash cost is lower than other miners like Vale S.A VALE, BHP Group, Codelco and FreeportMcMoRan, which is commendable. Higher copper prices and low costs will translate to improved margins for the company.

Price Performance

Shares of Southern Copper have appreciated 70% over the past year compared with the industry’s rally of 138.9%.

Image Source: Zacks Investment Research

Zacks Rank

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

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(Bloomberg) — Global demand for potash could grow by as much as 3% a year over the next decade, BHP Group said as the world’s biggest miner prepares to decide on a major investment in the crop nutrient in Canada.

BHP remained on track to take a final investment decision on the Jansen potash project around the middle of 2021, the company said Thursday in a presentation, pending finalization of port and rail arrangements and a final risk assessment. The first phase of development is seen costing between $5.3 billion and $5.7 billion, with initial production expected within five to six years.

Potash prices have rallied this year, boosted by the economic recovery from the Covid-19 pandemic. Nutrien Ltd., the world’s biggest fertilizer company, said earlier this month that it plans to boost its potash production by about half a million metric tons more than it previously expected this year amid strong global demand.

“Potash is a future-facing commodity that is positively leveraged to global mega-trends, including decarbonization,” Huw McKay, BHP’s chief economist, said on a conference call. “While the industry is currently subject to excess capacity, the demand trajectory is expected to absorb this overhang over the course of this decade.”

Demand could rise to as much as 97 million tons by 2035, from around 70 million tons currently, BHP said, with consumption expected to catch up with supply by the late 2020s or early 2030s. Canada was well placed to meet that demand growth, having more than half of the global reserve base. It already accounts for almost a third of global potash exports.

Read: BHP Runs Rule Over Troubled Potash Project as Decision Looms

Nutrien has been touted as a potential partner for BHP in Jansen, with the miner seen benefiting from Nutrien’s industry knowledge and marketing expertise. BHP has struggled with the project for years, having down-sized earlier plans for a bigger concept and already ploughed at least $4.5 billion into its development.

“Our decision on Jansen depends on more than just the fundamentals of potash,” said Ragnar Udd, president of BHP’s minerals Americas business. “We’re still finalizing a port, and that remains one of the key steps for us to work for,” he said. The group was considering either a commercial option at the port of Vancouver, or a purpose-built greenfield facility at the port.

BHP shares were down 1.5% at A$47.64 at 10:58 a.m. Sydney time on Thursday, compared to a 0.5% decline in the benchmark S&P/ASX 200 index.

(Adds executive comment in paragraph seven)

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SOREL-TRACY, Quebec, Jun 17, 2021–(BUSINESS WIRE)–Rio Tinto has started operations at a new commercial scale demonstration plant to produce high-quality scandium oxide at its Rio Tinto Fer et Titane (RTFT) metallurgical complex in Sorel-Tracy, Quebec.

The $6 million project, in which the Government of Quebec contributed approximately $650,000 through the Quebec Plan for the Development of Critical and Strategic Minerals, was completed on time and on budget, less than six months after the start of construction.

Six employees have been hired to operate the plant, which uses an innovative process developed by RTFT to extract high purity scandium oxide from the waste streams of titanium dioxide production, without the need for any additional mining.

Commissioning work is now being undertaken as production ramps up to a capacity of three tonnes of scandium oxide per year. RTFT is already considering the potential for further investments to add additional modules in line with market demand.

Rio Tinto Iron and Titanium managing director Stéphane Leblanc said: "For the first time, customers will benefit from a North American supply of scandium oxide for applications in solid oxide fuel cells, lasers, lighting products or as an additive to produce high-performance alloys. In less than two years, we have gone from testing a process to extract this critical material in a lab to being able to supply approximately 20% of the global market. This is a testament to our team’s capacity to think outside the box and deliver on our commitments."

Quebec Minister of Energy and Natural Resources Jonatan Julien said: "I am very pleased to see this major critical and strategic minerals project come to fruition in Quebec. It will help strengthen the security of our supply and add value to our industrial waste from the mining sector. It is also consistent with the government's vision of creating wealth in a greener economy. I wish Rio Tinto Iron and Titanium and the team at this new plant every success!"

This project is part of a series of innovations supported by Rio Tinto’s Critical Minerals and Technology Centre in the field of critical minerals and materials, including the recent launch of a water atomized steel powder for 3-D printing applications.

With its world-class aluminium business, Rio Tinto is also well positioned to produce aluminium-scandium alloys to meet customer’s needs. In March, the company announced an agreement to provide a first batch of high-performance aluminium-scandium alloy from its North American operations to Amaero, a leader in metal additive manufacturing.

To learn more, visit www.elementnorth21.ca

Notes to editors

RTFT operates an open cast ilmenite mine at Lac Tio near Havre-Saint-Pierre, on Quebec’s North Shore. The ore is used to produce high-quality titanium dioxide feedstock, pig iron, steel and metal at RTFT’s metallurgical complex in Sorel-Tracy, Quebec. Together, the sites employ over 1,600 people.

RTFT has operated in Quebec for 70 years and pioneered the process of removing iron from ilmenite. In the last decade, RTFT has focused on developing, marketing and fine-tuning the UGS process, which produces slag with a very high titanium dioxide content sold to pigment producers.

Founded in 1967, RTFT’s Critical Minerals and Technology Centre conducts research on process improvement and develops new products. The Centre features state-of-the-art equipment and highly specialised instruments, such as inductively coupled plasma spectrometers, X-ray diffractometers, atomic absorption units, image analysers, scanning electron microscopes and powder metallurgy testing laboratory.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210617005667/en/

Contacts

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

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Illtud Harri
M +44 7920 503 600

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Rio Tinto plc

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Category: RTFT

Mining stocks fell on Wednesday after China's announcement to release metal reserves to curb commodity prices put miners under pressure. 

Major mining stocks weighed heavy on the FTSE 100 (^FTSE) after falling on the news. Rio Tinto (RIO.L) declined as much as 0.9% and is currently trading 0.7% lower. 

Anglo American (AAL.L) dropped 2% and Antofagasta (ANTO.L) was down 1.5%, Glencore (GLEN.L) crashed 2.8% and Evraz (EVR.L) declined 1.5%. BHP Group (BHP.L) also lost ground, dropping 1.1%. 

"With China having driven much of the upside seen in global commodity prices over the past year, their recent efforts aimed at easing the price pressures have clearly caused major ripples throughout the sector," said Joshua Mahony, senior market analyst at IG.

China said it would release the country's reserves of major industrial metals, including copper, aluminium and zinc in batches "in the near future". 

The country's stockpiling body – China’s National Food and Strategic Reserves Administration – said the move would ensure the supply and price stability of bulk commodities. 

The reserves will be released to non-ferrous metal processing and manufacturing firms via a public bidding process. It did not specify on quantities of metal to be sold, the auction process or which manufacturers will be allowed to bid.

Read more: The chip shortage bringing car factories to a standstill

It came as Chinese industrial data released on Wednesday showed production grew at a less than expected rates in May as chip shortages dragged down car production.

Industrial output grew at 8.8% year-on-year in May 2021, against expectations of 9.2% growth, according to data from the National Bureau of Statistics (NBS). Production was hit by a rise in COVID infections in Guandong province and fresh restrictions have impacted a number of electronic manufacturing plants located in the region, especially chips and semiconductors. 

"The declines in Chinese industrial production seen today highlight the pressure put on economic growth by rising input prices," said IG analyst Joshua Mahony. "With the Chinese announcing that they will start to periodically release reserves of aluminium, copper, and zinc, we are seeing that the country clearly has intentions to do all it can to quell the rise in commodity prices."

The State Council said in May that it would take measures to ensure supply and stable prices for commodities, and regulators had previously warned it would adopt a zero-tolerance policy to market manipulation or hoarding of metals.

The world's largest metals consumer has been struggling to tame a surge in metal prices this year fuelled by a post-COVID economic recovery, ample global liquidity and speculative buying that has dented manufacturers’ margins.

Watch: Could mining make a comeback in Cornwall?