Rio Tinto First-Half Profit Surges to Four-Year High on Data Center Copper Demand
Rio Tinto reported its highest first-half profit in four years, driven by surging demand for copper linked to artificial intelligence data center construction.
Strong commodity prices helped the miner offset macro headwinds including a Chinese economic slowdown and US tariff policies. The chief executive also noted that lithium demand for grid-storage batteries is growing faster than previously forecast.
From the sources (7 posts)
@firstsquawkRIO TINTO CEO: GRID STORAGE BATTERY DEMAND FOR LITHIUM GROWING FASTER THAN EXPECTED
@firstsquawkRIO TINTO CEO: ELECTRIFICATION DRIVING SHIFT IN COMMODITY DEMAND, DIESEL SUPPLY SECURITY REMAINS TOP OF MIND
@reutersbizRio Tinto posts highest first-half earnings in four years on copper strength
@firstsquawkRio Tinto considers ways to monetize its Kennecott copper smelter in the U.S., CEO says.
@businessRio Tinto posts a rise in first-half profit as strong commodity prices outweighed the impact of China’s economic slowdown, US tariff campaigns and conflict in the Middle East
@firstsquawkRio Tinto buoyant on AI demand for metals as earnings soar - FT
@reutersbizRio Tinto posts highest first-half earnings in four years as data centre boom boosts copper