Canada a ‘decade or two’ ahead of West in battle for climate change, says Rio Tinto CEO – by Naimul Karim (Financial Post – September 20, 2023)

Jakob Stausholm says he hopes to further invest in Canada’s critical minerals sector

Canada is a “decade or two” ahead of other western countries when it comes to addressing climate change, Rio Tinto Ltd.’s chief executive Jakob Stausholm said. The head of one of the world’s largest mining companies said he hopes to further invest in Canada’s critical minerals sector as the company tries to meet its goal of reducing its carbon emissions by 50 per cent by 2030.

“We have to admit we have a significant carbon footprint, and we need to address that,” Stausholm said. “I just think Canada is an amazing opportunity. You have got, historically, a significant amount of renewable energy. You have a very high content of green energy in your electricity. That’s interesting for us.”

Rio already has a significant presence in Canada through its aluminum, iron-ore, titanium and diamond businesses. It has also looked at exploring lithium in the James Bay region through option agreements inked with a couple of junior Canadian miners.

In June, Rio inked a memorandum of understanding with the federal government to find ways in which the London-based miner can contribute to Canada’s low-carbon battery industry over the next decade. Lithium is a key component in electric-vehicle batteries.

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