Rio Tinto plc Sponsored ADR (LSE:RIO) heads into Wednesday’s earnings with markets wary after weakness in Australian tech and resources, even as the miner streamlines operations by exiting its aluminum MMC unit and striking a commercial transfer deal with Canada’s Cymat Technologies.
Previous Week Recap
- Rio Tinto Earnings Preview: Rio Tinto plc Sponsored ADR (RIO) will report earnings Wednesday. Traders may note recent weakness in Australian tech and resources ahead of the release.
- Rio Tinto Exits MMC Business: Rio Tinto (RIO) will exit its aluminum metal matrix composites (MMC) business and has reached a commercial deal to transfer MMC customers to Canada’s Cymat Technologies.
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