In perhaps the most famous line from the mid-1980s television show The A-Team, A-Team leader Colonel John “Hannibal” Smith (George Peppard) often said: “I love it when a plan comes together”.
Apparently, Hannibal Smith retired from the A-Team to join the executive team at the global mining giant, Rio Tinto PLC (RIO), because the company’s strategic moves over the past few years are really starting to come together. Long-term decision-making and some smart acquisitions are providing a strong growth path for the miner.
And you can still get in.
Production guidance for 2023, released in mid-January alongside Rio Tinto’s fourth quarter output numbers, shows increased output for iron ore, copper and alumina/bauxite. And the company is moving quickly to build a lithium test plant at the Rincon mine in Argentina, which it bought last year—a really important move for Rio Tinto’s future.
RBC analyst Tyler Broda recently agreed that the company’s long-term planning was bearing fruit. He told clients that “The company’s portfolio has some compelling options and, unlike the other majors [mining firms], offers growing lithium exposure.”
I believe lithium will…
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