0558 GMT - Rio Tinto might be looking to build out its organic copper-growth pipeline, similar to how peer BHP did with its Vicuna deal, UBS says in a note. Rio was reported to be considering a bigger stake in the Los Azules copper project in Argentina, according to a Reuters article in May. UBS reckons the giant miner could be looking to complement its organic growth plans in lithium, aluminum and iron ore, as it ramps up recent copper projects such as the Oyu Tolgoi mine expansion. Rio currently lacks meaningful copper growth options in the 2030-2035 period, with projects like Resolution longer dated, UBS says. It notes that Rio had looked to address the gap in its copper pipeline with the failed deal talks with Glencore. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
July 10, 2026 01:59 ET (05:59 GMT)
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