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Rio Tinto Aims Multi-billion Investments To Meet Growing Demand, Decarburization Targets

Rio Tinto Plc (RTPPF.PK,RIO.L,RIO,RTNTF.PK), an Anglo-Australian mining major, said on Wednesday that it intends to invest of up to $3 billion a year in growth to meet growing energy transition demand.

The metals firm expects that the energy transition requirements to add as much as 25 percent in new demand above traditional sources across the Group's key products by 2035.

The investment will cover its Oyu Tolgoi copper, Rincon lithium, and Simandou iron ore projects.

As part of its decarburization efforts, the Group expects to invest around $7.5 billion between 2022 and 2030, including around $1.5 billion over the next three years which will be back-end dated.

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