Rio looks to a ‘deeper world’
RIO Tinto (ASX: RIO) chief executive J-S Jacques waxed philosophical to investors in London on Monday speaking of his vision of the company’s future. He spoke about the ‘deeper world’ awaiting the mining industry in the 2020s, and the importance of recognising the finite nature of the resources being mined. As Rio Tinto moves into the next decade, the shift from excess to discipline will be emphasised. Mr Jacques said that as the world becomes faster, so it becomes deeper too – meaning AI and big data present an opportunity to transform mining majors’ business models toward circular economies. “The world will not wait for us,” he said. “The time for change is now.” China’s insatiable appetite for resources in…