Rio Tinto plc seals A$1.1 billion Pilbara water deal as Dampier desalination expands

Rio Tinto has signed on for a 50:50 joint venture with the Western Australian government, committing A$1.1 billion to build a seawater desalination plant near Dampier. The project targets increased water supply for Pilbara towns and industry while cutting back on groundwater reliance. “Water is a scarce resource, especially in the Pilbara,” Rio Tinto iron ore chief executive Matthew Holcz said.

Company hubLSE:RIO.L

RIO.L (RIO.L) Stock News & Analysis

Follow the latest RIO.L (RIO.L) company news, earnings coverage and investor analysis from TechStock².

Save this hub to your TS2 Signalbook account.
Latest update
Articles in this hub
26
Last 30 days
0

What investors are watching

  • Earnings, guidance and financial performance
  • Valuation, trading activity and market sentiment
  • Strategy, catalysts and company-specific risks
Rio Tinto stock price in focus: China approval risk hangs over Glencore talks

Rio Tinto stock price in focus: China approval risk hangs over Glencore talks

Rio Tinto plc shares head into Friday’s London session with China casting a shadow over any potential deal with Glencore. Analysts warn Beijing might demand asset sales to greenlight a merger. Barrenjoey’s Glyn Lawcock suggested China could leverage the talks to “squeeze out assets,” pointing out the merged company would represent around 17% of global copper supply. Barclays, however, estimates the figure closer to 7.5%.