Is Rio Tinto the best UK lithium stock to buy right now?

Rio Tinto is amongst the largest mining corporation worldwide. This UK lithium stock is driven towards sustainable growth. Also, it is focused on a broader contribution to society, specifically towards net-zero carbon emissions.

The company plans to expand its lithium battery business. So, it’s not surprising that the group has been making a lot of acquisitions in this space.

As the lithium sector is rising, I believe Rio Tinto has made some excellent moves. So, by increasing its footprint within the lithium supply market, I think this UK stock could see explosive growth in the near future and over the long term.

The recent investment into the Siberian state has created quite an uproar by the local activist groups. In light of damaging the environment, the locals are putting pressure on the government to suspend further mining. This is particularly bad news for Rio Tinto, as the group has several plans to expand operations within that region of the world.

Needless to say, if the company is unable to secure mining rights, it could undercut its future growth prospects. And that could compromise its share price.

Part of the reason I am interested in investing in lithium stocks is the growing demand for electric vehicles. This global shift towards greener technology like fast-charging high-capacity batteries makes me think the demand for lithium isn’t likely to disappear anytime soon.

Rio Tinto is a leader within its industry, but it may also be the best way to invest in this shifting landscape. At a price of 5,392p, I believe this future UK lithium stock could be a bargain for my portfolio.

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Saima Naveed does not own shares in any of the companies mentioned. The Money Cog has no position in any of the companies mentioned. Views expressed on the companies, assets, and strategies mentioned in this article are those of the writer and, therefore, may differ from the opinions of analysts in The Money Cog Premium services.

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