Rio Tinto invests $143 million in low-emission steelmaking research and development facility in Western Australia, targeting a 95% reduction in CO2 emissions.
Multinational miner BHP's bid for Anglo American may not be enough as other miners are likely to make rival bids for copper assets. Global demand for copper is expected to increase for clean energy.
Rio Tinto's copper chief, Bold Baatar, prefers building new mines over M&A. He will replace Alf Barrios in September. Chile's permitting process is a major hurdle.
Iron ore prices surge on rising Chinese demand, with transaction volumes at major ports increasing. This is positive for the Australian Dollar and its export market.