Dominic Barton, Chairman of Rio Tinto, has stressed the urgent need to develop new mines to make up for shortfalls in the supply of raw materials, particularly copper, against the backdrop of China's economic slowdown. Barton remains optimistic despite weakening consumer demand, stressing the importance of investment in the energy transition, urbanisation and innovation. He believes that the confidence of Chinese consumers needs to be restored, not least because the devaluation of property is reducing their sense of wealth.

As far as the mining industry is concerned, he argues that mergers and acquisitions will not be enough to solve the supply deficit. He calls for an increase in mining exploration and development, which are essential to support the ecological transition that requires materials such as copper for energy infrastructure. Barton also touched on the lithium sector, crucial for electric vehicle batteries, and expressed cautious optimism about the future of electric cars.

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