Ann: Becoming a substantial holder, page-18

I tried to find any info which would indicate which investment bank Rio Tinto typically uses for M&A activity but came up dry - anyone else able to find any info on this?

Apart from this, the following article from May this year is interesting (further below for link):

The RIO CEO seems to be warning against large scale deals (for instance if they were to try and acquire PLS or PMT or LTR) and instead points out the RIO strategy seems to allow moreso for smaller deals to Rincon ($890m). He's also talking about RIO's focus on environmental and social strategies - both of which would easily be satisfied at Colina.

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Stausholm pointed to the smaller deals that Rio Tinto has done in recent years, including the acquisition of the Rincon lithium project, in Argentina, noting that these transactions have not derailed the overall transformation of the company.

While Rio Tinto was open to exploring M&A opportunities, the CEO cautioned against the potential risks associated with larger-scale transactions.Responding to a question regarding Rio Tinto’s stance on the lithium market, Stausholm said that the company was confident that demand for lithium would continue to increase, particularly in battery technology.

He highlighted the importance of adopting environmentally and social responsible practices in lithium extraction. “We are really learning a lot right now in developing the Rincon project in how we get the winning ESG solutions for lithium extraction. Because lithium can be done in quite a bad way. I do believe it can also be done in a very elegant way, in a very neat way,” said Stausholm.

Rio Tinto ‘not afraid’ of M&A, says Stausholm (miningweekly.com)