Rio Tinto plc Chairman Warns: Global copper shortage is imminent, new mine development is imperative.

GMTEightPP has learned that Dominic Barton, Chairman of Rio Tinto plc Sponsored ADR (RIO.US), stated that in order to meet the increasing global demand for key energy transition metals such as copper, more mines need to be developed because mergers and acquisitions cannot fill the imminent supply gap. Barton said, "As an industry, we will not solve this challenge through inorganic growth. It's a massive challenge involving at least five different major commodity areas." In recent months, encouraged by healthy cash flow and the outlook for key green energy metals, mining companies have been rapidly increasing additional production, leading to an increase in global mining M&A activity. The world's largest mining company, BHP Group Ltd Sponsored American Depositary Receipt Repr 2 Shs (BHP.US), is one of the most active acquirers, and after its $49 billion bid to acquire Anglo American was rejected, the company has made a bid for Filo Corp. However, Rio Tinto plc Sponsored ADR has remained silent in the M&A arena, instead investing hundreds of millions of dollars in exploration, focusing on copper and lithium. Nevertheless, Barton mentioned that the company is "looking for opportunities." He said, "We can only build more mines. In the next 30 years, we will need to discover and mine more copper."