Rio Tinto plans to enjoy a long commodity party

Rio Tinto aims for organic growth during a structural shift in global demand for metals, says Tom Albanese, CEO of Rio Tinto.
Tom Albanese, CEO of Rio Tinto
Tom Albanese, CEO of Rio Tinto

The mining industry has reaped a bonanza during the past two years. Prices of base metals, precious metals and others, especially “rare earth” metals, have surged.

So, “when will the party end” asked Tom Albanese, chief executive officer of Rio Tinto at the Credit Suisse Asian Investment Conference in Hong Kong yesterday.

Well, not soon. “It will continue for some time due to the irresistible demand-pull of China’s appetite to build infrastructure and produce secondary goods,” he replied.

But, maybe his experience in the copper industry provides a warning. Exploration companies flourished in the 1970s, which led to an over-supply right up until...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222