It won't be just RIO.
From MS research overnight:
Tesla the miner? We asked Tesla CEO Elon Musk on the 3Q22 conference call if the company would consider vertically integrating into mining. Mr. Musk replied: "We'll do whatever we have to. Whatever limiting factor is, we'll do."
Finally Elon has publicly made the logical conclusion.
From his major strategic blunder thinking ~5 years ago that lithium was the “salt on the salad” to now realising Li raw material is THE limiting factor, and they need get long some serious supply.
Musk has to take the plunge upstream.
That's why I think some of these raw materials producers need to get some takeover premium into their share prices.
Because if Musk goes upstream into mining, which he definitely should, then his competitors will have no option but to follow suit.
It won't be just RIO. From MS research overnight: Tesla the...
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