Rio Tinto, which has long said building mines is a better option for growth than buying assets, seems to be changing its tone as main rival BHP moves to consolidate the sector.
Chief executive Jakob Stausholm said he is not ruling out looking at large takeovers in the copper sector now that Rio has reached an “inflection point”.
“Our ambition is to deliver around 3% of compound annual growth [in copper output] from 2024 to 2028 from existing operations and projects,” he noted during the first-half results call.
Chief executive Jakob Stausholm is not ruling out looking at large takeovers in the copper sector now that Rio Tinto has reached an “inflection point”.
Stausholm confirmed that the company’s copper equivalent production is on track to grow by about 2% this year and noted the company is in a “strong position” to deliver on a number of large projects that would drive future growth.
When it comes to the…
