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Rio Tinto’s Aluminum For Iron Ore Tradeoff To Boost Profit
Oct. 24, 2011 02:08PM PST
Base Metals Investing Forbes reported Rio Tinto (NYSE:RIO,ASX:RIO,LSE:RIO) will sell 13 of its aluminum assets while investing in the resource base for its iron ore business.
Forbes reported Rio Tinto (NYSE:RIO,ASX:RIO,LSE:RIO) will sell 13 of its aluminum assets while investing in the resource base for its iron ore business.
As quoted in the market news,
The company is moving aggressively toward streamlining its business and securing resources at key locations for further development. Rio Tinto competes primarily with global metals and mining giants like Vale, BHP, Freeport McMoran and other companies that mine bauxite, copper, coal and iron ore.
Our price estimate of near $82 for Rio Tinto implies about 70% upside to its current market price.
