United Kingdom's Tech Showcase: Rio Tinto Embraces British Technology for Achieving Zero Carbon Goals
The UK Needs to Step Up Its Game in Mineral Innovation and Tech Partnerships, Warns Rio Tinto
The UK risks falling behind in the global race for essential minerals crucial for energy transition if it doesn't invest more in material innovation and secure tech partnerships. That's according to execs from mining giant Rio Tinto, who made the remarks at London Tech Week.
Rio Tinto's CEO Jakob Stausholm and Chief Innovation Officer Dan Walker emphasized the FTSE 100 company's commitment to British talent and technology, aiming to tackle future supply chain challenges. The firm reaffirmed its long-term commitment to London following a shareholder vote last month to retain its UK listing.
"Our mission is to discover better ways to provide the materials the world needs," said Walker. "Yet we don't have all the solutions, and that's why we're partnering with brilliant minds and game-changing ideas."
Scaling Down for Net Zero
Already a pioneer in using autonomous mining vehicles, Rio Tinto is now turning to UK science and startups to speed up its decarbonization plans and rethink conventional methods of extracting and processing key materials.
Stausholm emphasized that the firm's transition to net-zero by 2050 requires "revamping manufacturing processes." Innovation, he said, must deliver commercially, not only ideologically. "It needs to come through technology, it needs to be efficient. Otherwise, the world can't afford it."
Recent efforts include a $150m, ten-year partnership with Imperial College to explore future materials and investments in clean tech startups, like ElectricaLith, which is working on lithium extraction processes using no chemicals or water.
"Innovation flourishes in collaboration," Walker reiterated throughout the talk. He also added that the company is actively seeking to engage more startups, universities, and governments to realize these opportunities.
London: A Strategic Location
Rio Tinto's appearance at London Tech Week came just weeks after shareholders decisively rejected an activist push from Palliser Capital to scrap the firm's dual listing and consolidate in Sydney. Over 80% of voters rejected the motion, which the firm had previously deemed "unfounded and misleading."
Stausholm noted that Rio Tinto's roots can be traced back to British investors backing a depleted copper mine in southern Spain 152 years ago—a project that grew to become the world's largest copper mine. "What built our strength has always been technology," he said.
The UK is positioning itself as a hub for essential mineral innovation, focusing on sustainability and decarbonization. Rio Tinto's collaboration with local scientific expertise and startups is likely to play a significant role in shaping low-carbon mining and supporting the energy transition.
1. To achieve its goal of decarbonization and improvements in material extraction and processing, Rio Tinto is actively partnering with UK science, startups, and universities, as seen by their $150m partnership with Imperial College for future materials research.
2. In emphasizing the importance of technology in their strategic decisions, Rio Tinto's CEO Jakob Stausholm reiterated that the company's transition to net-zero by 2050 cannot be achieved without innovation that is both efficient and commercially viable, in order to avoid burdening the world financially.
