Rio Tinto's Chairman pivots towards aluminium, promising a bright future for the metal

On October 6, 2023, Dominic Barton, Rio Tinto's chairman, indicated a more pronounced focus on aluminium, as customers are increasingly willing to pay extra for eco-friendly, sustainable products. He also emphasized the company's aspiration to participate in the growing lithium market.

Dominic Barton mentioned that Rio Tinto's fresh strategy might involve embracing projects that commence on a smaller scale and have the potential to grow, often in collaboration with government or local partners, instead of exclusively pursuing the largest and most immediately operational mines.

Dominic Barton addressed at the mining summit in London, “The bias, at least on Rio’s side, is big – that it’s better, big, fast and hulked up.  We need to be thinking about a more longer-term approach within countries and working with others.”

Rio Tinto primarily operates in Australia and North America, with additional projects in South America, South Africa, Oman, Guinea, Mozambique, Madagascar, and Mongolia. The chairman of the global mining and metal giant noted that certain Central Asian nations have inquired about Rio's absence in their regions, yet, from the company's perspective, some of these places pose considerable geopolitical risks.