Stocks of the Hour: IGO, Rio Tinto & Spark Infrastructure

Company News

by Lauren Evans

Mining company IGO (ASX:IGO) announced its Q2 results for 2021. Sales revenue was up 44 per cent from the prior quarter at $266.2 million, driven by higher nickel and copper concentrate sales and positive commodity price movements. Shares in IGO (ASX:IGO) are trading 1.7 per cent lower at $8.93.

Mining giant Rio Tinto (ASX:RIO) committed $2.4 billion to the Jadar lithium-borates project in Serbia. The project will scale up Rio's exposure to battery materials and strengthen its portfolio for the global energy transition. Shares in Rio Tinto (ASX:RIO) are trading 0.4 per cent lower at $131.91.

Spark Infrastructure (ASX:SKI) received a revised proposal from Ontario Teachers' Pension Plan board, of the back of an initial proposal to acquire 100 per cent of stapled securities in Spark. The proposal includes a cash consideration of $2.95 per stapled security. Shares in Spark Infrastructure Group (ASX:SKI) are trading 5.6 per cent higher at $2.75.

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