Rio Tinto, DRC in talks over lithium mining
Rio Tinto is in preliminary discussions with the Democratic Republic of Congo (DRC) regarding the potential development of the Roche Dure lithium deposit. This deposit is among the world’s most significant hard rock lithium resources.
The move aligns with Rio Tinto’s strategy of expanding its presence in the critical minerals and battery metals sector, particularly lithium. However, the global lithium market is facing an oversupply, which has led to a decline in prices. Despite this, the company sees an opportunity to position itself in the growing demand for lithium-ion batteries, which are essential for electric vehicles and renewable energy storage.
Stock market
In the stock market, Rio Tinto’s share price has seen some fluctuations. On March 28, 2025, the stock closed at £47.16, reflecting a 2.03% drop for the day and a 19.44% decrease from its 52-week high of £58.54, which was recorded in May 2024. Analysts maintain a positive outlook on the stock, with a consensus rating of “Buy” and an estimated 12-month price target of $73.00. This suggests a potential upside of about 16.07% from its current level. While recent market conditions have influenced Rio Tinto’s stock performance, the company’s strategic investments in lithium and other critical minerals could strengthen its long-term growth prospects.
Since Rio Tinto’s negotiations with the DRC are still in the preliminary stages, there is no official agreement yet. Investors should closely monitor updates on this potential lithium project, as well as broader industry trends that could impact the company’s performance. With its vast resources and expertise in mining, Rio Tinto is well-positioned to enter the lithium sector if market conditions become more favorable.
