Rio Tinto: Fundamental Breakdown with InvestingPro
Oliver Gray | Apr 20, 2023 10:56
By Oliver Gray
Investing.com - Major mining companies are facing an increasingly volatile outlook amid easing inflation pressures and rising recession risks, while Rio Tinto Ltd (ASX:RIO) and BHP Group Ltd (ASX:BHP) are both making major acquisitions for the first time in over a decade as they seek to take advantage of increasing demand for metals required in renewable energy production.
Copper and nickel are among these metals that have seen a surge in demand due to decarbonisation efforts. These high commodity prices have encouraged both Rio Tinto and BHP to expand their commodities production and invest more in metals poised to benefit from decarbonisation instead of returning excess cash to shareholders.
What Does the Company Do?/h2
Rio Tinto Group was founded in 1873 and is headquartered in London, the United Kingdom.
Engaging in worldwide exploration, mining and processing of resources, the company supplies markets with a range of minerals and metals, including Aluminum, diamonds, uranium, copper, gold and iron ore via its operations in Europe, Africa, Asia-Pacific, the Middle East and the Americas.
Data/h2
Source: Investing Pro
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