Rio Tinto (RIO -0.82%) is one of the world's leading mining companies. The London-based company produces the three top industrial metals -- iron ore, aluminum, and copper -- and several other important metals and minerals, including lithium.
Rio Tinto focuses on these industrial metals because they are the ones the global economy most commonly consumes. The uses for iron ore, aluminum, and copper are numerous and growing:
- Iron ore: The primary material for making the steel used for cars, appliances, buildings, wind turbines, and other infrastructure.
- Aluminum: A lightweight metal and a vital component for many technology applications. Aluminum is used to make jet engines, electric vehicles, and mobile phones.
- Copper: Copper is an excellent conductor of electricity, making it essential for electronics, electric vehicles (EVs), and for producing solar energy. It is also a vital component of many technology applications.
Although these metals are highly sensitive to cyclical changes in the global economy, demand for the metals Rio Tinto produces should continue to grow.
Rio Tinto is also becoming a global leader in supplying energy transition metals. It bought lithium producer Arcadium Lithium for $6.7 billion in 2025 to become a major lithium producer. Rio Tinto also agreed to invest $2.5 billion in late 2024 to expand its Rincon project in Argentina, where it's building its first commercial-scale lithium operation.
The company also boasts a strong balance sheet and some of the lowest-cost operations in the world. It has the financial flexibility to expand its operations while returning cash to investors via share repurchases and dividend payments. The company was reportedly looking to flex its financial muscles in early 2026 by evaluating a potential takeover of rival miner Glencore (GLNCY -2.04%) in a deal that would create the world's largest mining company.
2. Nucor
