Rio Tinto seeks pitches from bankers for lithium deals in battery metal foray Miningnews - Lithium HEAD TOPICS

Rio Tinto seeks pitches from bankers for lithium deals in battery metal foray

10/21/2022 9:41:00 PM

Rio Tinto seeks pitches from bankers for lithium deals in battery metal foray #miningnews #lithium

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Rio Tinto seeks pitches from bankers for lithium deals in battery metal foray. miningnews lithium Rio Tinto is the only one of the world’s biggest diversified miners looking to start mining lithium. Image courtesy ofRio Tinto.)Rio Tinto Group is asking for pitches from some of the biggest investment banks for lithium companies and projects it could buy as the mining giant looks to expand into the key battery metal.Representatives from leading investment banks visited the miner’s offices in Perth, Australia several weeks ago, according to people familiar with the situation who declined to be identified as the meetings were private. Sign Up for the Battery Metals DigestSign UpRio Tinto is the only one of the world’s biggest diversified miners looking to start mining lithium, a key ingredient to make batteries for electric vehicles. The interest from the second-largest mining company comes amid a global push to transition to cleaner energy sources and reduce dependency on fossil fuels, putting electrification and battery metals at the forefront of the shift. Read more:
mining » Now is your chance to take home a chair from former Rio Tinto Stadium Rio Grande managers eye federal cash for western drought ISS sides with top Turquoise Hill investors in dismissing Rio takeover Jennifer Lopez’s honeymoon dress is half off at Saks

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Former oil executive Dan Peña has made his stance on climate change clear. As far as he is concerned, it’s not an issue. Read more >> Now is your chance to take home a chair from former Rio Tinto StadiumThey may not be the most comfortable seats, but they sure do hold a lot of memories. For just $10, you can score a chair from the former Rio Tinto Stadium. For $10 I can go to Goodwill and get a nice couch Take note of the vertical mounting. These aren't normal fold-out chairs. smackdowntay Rio Grande managers eye federal cash for western droughtStretches of the river near Albuquerque, New Mexico went dry for the first time in 40 years. Managers and officials on the Rio Grande are hopeful funds will reach their communities. ISS sides with top Turquoise Hill investors in dismissing Rio takeoverISS recommended Turquoise Hill shareholders vote against Rio’s cash offer to acquire 49% of the stock it doesn’t own for C$43 a share, the firm said. Jennifer Lopez’s honeymoon dress is half off at SaksThe “Marry Me” star sported a sunny frock by celeb-loved label Farm Rio during her honeymoon with Ben Affleck in Italy, and it’s now 50% off. 🤮🤮🤮 The funeral home can't cope, so a Texas sheriff is storing bodies of migrants who died crossing the border in a refrigerated container, he says CNNThe bodies of migrants who died trying to cross the US-Mexico border are being kept in a refrigerated container near the Rio Grande because the local funeral home can longer store them, a Texas sheriff says. And the root cause of excessive deaths are? Climate change? Blood on the Biden Administration’s hands It works for the citizens of TX, so why not? Rio’s Jadar project has an estimated production capacity of 55,000 tonnes per year.SANDY, Utah — Real Salt Lake fans, this is an offer you might not want to pass up on.PUBLISHED 5:48 AM CT Oct.Oyu Tolgoi open pit has been producing since 2012. ( Image courtesy of Rio Tinto. ) Rio Tinto Group is asking for pitches from some of the biggest investment banks for lithium companies and projects it could buy as the mining giant looks to expand into the key battery metal. The stadium was renamed"America First Field" in September. Representatives from leading investment banks visited the miner’s offices in Perth, Australia several weeks ago, according to people familiar with the situation who declined to be identified as the meetings were private. South Texas cities including McAllen, Brownsville and Mission, whose only water source is the river, ratcheted up water restrictions on businesses and a collective 1 million people. Sign Up for the Battery Metals Digest Sign Up Rio Tinto is the only one of the world’s biggest diversified miners looking to start mining lithium, a key ingredient to make batteries for electric vehicles. You'll only need ten bucks to take home one of the chairs. The interest from the second-largest mining company comes amid a global push to transition to cleaner energy sources and reduce dependency on fossil fuels, putting electrification and battery metals at the forefront of the shift.24 billion ($3. The London-based mining giant had sought to develop a giant underground lithium mine in Serbia, positioned to feed into Europe’s car manufacturing hub in Germany, yet those plans were dashed earlier this year when the Serbian government blocked the development after thousands of protesters took to the streets to oppose it. If you want a chair, head to the South end of the stadium starting at noon on Friday and you can take home one (or many) of the chairs. With $4 billion in the Biden administration’s climate measure to address drought, some officials argue cities and farms in the Rio Grande basin have been overlooked while facing just as many problems as others in the West. Instead, Rio bought a lithium mine in Argentina for $825 million and is looking to bring it into production as soon as 2024. The company has already inked a supply agreement with Ford Motor Co.. Nothing imminent Rio’s meetings with bankers don’t mean a major deal is imminent. A main way the money will be spent in the Colorado River basin is to pay farmers to leave fields unplanted and free up the water that would otherwise be used. The company is more interested in making sure it’s aware of all the opportunities in the sector and what could be available to buy in the future, according to the people., which urged shareholders of the Canadian miner to support Rio’s proposal. Companies involved with lithium are expensive at the moment, so it’s not a good time to buy. Lithium miners are currently trading at 5. New Mexico has received “bits and pieces of things,” said Mike Hamman, the state water engineer.8 times earnings before interest, taxes, depreciation and amortization for 2023, according to estimates by New York-based investment bank Cowen Inc. Lithium prices are also soaring in the latest leg of a record-setting rally, with prices in China nearly doubling the level at the start of the year. The world needs lithium supplies to grow fivefold by the end of the decade to meet projected demand as the electric vehicle revolution gets into full swing, according to BloombergNEF .S. Shares of Turquoise Hill dropped as much as 3. This looming shortage of the white silvery metal has seen miners engage in bidding wars for assets in nontraditional mining countries such as Argentina. (By Yvonne Yue Li and Thomas Biesheuvel) Share .