In their last annual report, Rio Tinto reported revenues of around US$763 million (calendar year 2024) from it's borates operation, primarily its mine at Boron, California. That's a substantial amount of revenue, even for Rio.
Does anyone know what the grade of the borates resource is at Rio's mine and how it compares to the grade of borates at Rhyolite Ridge? I haven't been able to find any mention of resource grade by Rio.
I thought a comparison of the grades at both locations might indicate how attractive partnering with Ioneer might be to Rio, given they are now significantly invested in their own lithium and boron operations.
INR Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
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