Rio looking for new opportunities

RIO Tinto has again put its business development hat on public display, with the head of major’s so-called Rio Tinto Ventures team, Andrew Latham, participating in a private equity panel discussion at PDAC and giving one or two clues as to what he’s been mandated by his employer to find.

Rio looking for new opportunities Rio looking for new opportunities Rio looking for new opportunities Rio looking for new opportunities Rio looking for new opportunities

According to Latham, “industrial commodities” that are going to benefit from the way technologies are globally developing are prime targets on the Rio Ventures team’s radar.

“If you look at the analysis of which metals are most going to benefit from what we are seeing in terms of new technologies … (and) a lot of talk about electric vehicles and so on, there’s no question copper will benefit," he said.

“But copper is covered (by the already established copper business at Rio).

“After copper you start to look at the nickels, the cobalts, the lithiums and so on.

“And so I think we need to consider those.”

However, as could be expected, the payin...