Rio Tinto CEO: China will still be the largest market, and mining mergers and acquisitions should be based on clear value

“From a macro perspective, factors such as the energy transition and rising demand for computing power are driving structural changes in global demand for commodity goods.” Recently, in a media interview, Simon Trott, CEO of Rio Tinto, the world’s second-largest metals mining company, emphasized that the world is continuously and rapidly evolving, and that a mining company’s own business is also changing along with it. Rio Tinto maintains sustained development, and its “business playbook” is to provide the materials the world needs, in a steady stream, with precise timing. In Trott’s view, China is naturally at the core of all of this. In 2025, China’s market contributed nearly 57% to Rio Tinto’s combined sales revenue. “For decades, we have worked closely with Chinese customers and with stakeholders across our value chain. These collaborations have made us a stronger company—strengthening the supply chain, improving efficiency, and helping us gradually move toward low-carbon production.” Trott said, and that M&A is deeply embedded in Rio Tinto’s development history and DNA. “In fact, many of our assets were acquired through M&A, and we have always been looking for M&A opportunities.” The key is that Rio Tinto will remain extremely cautious about this—“only carrying out M&A when we can clearly see it creates value for the company.” (The Paper)