Rio Tinto Shares Climb Amid Renewable Energy Deal and Iron Ore Price Boost

Fri 14 Mar 25, 12:40 AM | Team Kalkine

Image source: Shutterstock

Highlights

Rio Tinto shares rise 1.5% to AU$117.74, outpacing the ASX 200’s 0.2% gain.

Iron ore prices increase 1.5% to US$102.20 per tonne overnight.

Rio Tinto inks a 20-year renewable energy deal with Edify Energy, supporting AU$2 billion in solar and battery investments.

Shares of Rio Tinto Ltd (ASX: RIO) traded higher on Friday, climbing 1.5% to AU$117.74 in morning trade, compared to the S&P/ASX 200 Index’s (ASX: XJO) 0.2% gain. The rise follows a 1.5% overnight increase in iron ore prices to US$102.20 per tonne, coupled with the announcement of a major renewable energy partnership.

The stock remains down 1% year-on-year, but the latest developments suggest a shift towards long-term sustainability and energy resilience.

Landmark Renewable Energy Agreement

On Thursday, Rio Tinto revealed a 20-year power purchase agreement with Edify Energy to supply its Gladstone aluminium operations in Queensland with renewable power. The miner will buy 90% of the energy and storage capacity from the Smoky Creek and Guthrie’s Gap Solar Power Stations.

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