Rio Tinto Chairman Warns Mining Deals Won’t Solve Supply Crisis

The world needs more mines to cope with rising demand for key energy-transition metals like copper, as mergers and acquisitions will not plug a looming supply gap, Rio Tinto Group Chairman Dominic Barton said.

“As an industry, we’re not going to inorganic our way out of this challenge,” Barton said in a Bloomberg TV interview, referring to growth through deals. “It’s huge, and it’s in at least five different commodity areas.”

Global mining M&A has ramped up over recent months, as healthy cash flows and the outlook for key green energy metals encourage the rapid addition ...