Last year, Rio announced the establishment of Rio Tinto Ventures (RTV), which will target new opportunities and partnerships outside its core focus.
RTV managing director Kevin Fox told day two of Investing in African Mining Indaba in Cape Town that the division was interested in the battery thematic and was keen to get its “hands on resources”.
“Our goal at Rio Tinto Ventures is mostly to look at opportunities in new commodities that we don’t have a presence in,” he said.
“The idea is to look at what other opportunities make sense.”
Fox said Rio obviously had an “enormous” interest in copper due to its use in batteries as well as electric vehicle infrastructure.