Is AI energy storage supporting the lithium price bull market logic? Rio Tinto (RIO.US) aggressively expands its lithium business: production target to triple to 200,000 tons, with projected growth outpacing its copper and iron ore pillars.
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At the recently held Fastmarkets Global Lithium, Battery and Critical Materials Conference in Las Vegas, Jérôme Pécresse, CEO and head of Rio Tinto's aluminum and lithium business, clearly stated that Rio Tinto's lithium business will grow at a rate that will fully surpass traditional pillars such as iron ore and copper. The company's goal is to astonishingly double its lithium production by 2028.
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