The Thirst For Lithium Rio Tinto Stock RTNTF Stock, Standard Lithium SLI Stock, Are They A Buy?

In an effort to reduce its dependence on iron ore, the multinational mining group around the world is focusing on mining other metals, especially those needed for the "green transition" of the global economy.

But things are not so simple, especially in the case of lithium. When it does not face the strong reaction of the residents, it faces the annoyance of the shareholders for the exact acquisition of a mine.

After many years of suffering, the shareholders of the big metal and mineral mining companies finally saw a "white day" in 2021. Most of them went up to perennial highs, aided by the very good course of the price of metals and minerals.

Rio Tinto (RIO NYSE, RIO LONDON, RIO SYDNEY), the largest iron ore producer in the world, saw its share follow the big rise in iron ore by the beginning of the summer and reached $ 95. It then followed the downward trend of iron ore and dropped sharply to $60 and is now close to $71.

The company has started experimental lithium mining from a very old mine in California, USA. He hopes that in a few years he will be able to produce about 5,000 tons of lithium a year, enough to make batteries for about 70,000 electric cars.

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