CDF Voice | Jakob Stausholm, Chief Executive of Rio Tinto

Hello, everyone, My name is Jakob Stausholm, and I am the Chief Executive of Rio Tinto.

As one of the oldest and largest mining companies in the world, Rio Tinto has been a long-standing partner of China. Our relationship with China spans over a century, and it remains an essential part of our business, as a customer, a partner, and a source of talent, service and innovation.

The China Development Forum presents a unique opportunity for us to engage with leaders from across China and the globe, as we address some of the most important challenges and opportunities we face together.China is at a key moment in its development. Over the past few decades, the country has undergone an extraordinary transformation that has seen its economy grow exponentially. Now, its shift towards high-quality, sustainable growth brings it new potential —unlocking new momentum through innovation and a more sustainable economy.

China is now responsible for about 60% of global electric vehicle sales and is leading in global renewable energy capacity expansion. These examples highlight China’s leadership in both the energy transition and technological innovation—areas in which we at Rio Tinto see enormous potential to make a meaningful contribution.

The global demand for materials such as copper, lithium, and aluminium is growing rapidly. These materials are vital not only for powering China’s future but also for sustaining the growth of the global economy. At Rio Tinto, we are committed to finding better ways to meet the world’s needs for these essential materials.

We believe that the key to enduring growth lies in long-term partnerships—and this is where Rio Tinto has consistently delivered.

Together with our Chinese partners, we are advancing the world-class Simandou iron ore project, with the first production planned for this year. We are also collaborating closely with Chinese suppliers and EPC contractors to source key equipment and services required for the project’s construction. When completed, Simandou will become Africa’s largest mine and infrastructure project, with a profound impact on Guinea’s economic development. Its high-grade ore will play an essential role in the production of low-carbon steel.

This year, the Western Range project, our joint venture with China Baowu in Western Australia, will also begin operations. By focusing on such long-term projects, we are helping to secure the materials needed for a greener and more prosperous future.

In alignment with China’s high-quality development plans, we have broadened and deepened our collaboration with Chinese partners such as Baowu, Shougang Group, and NISCO to develop low-carbon solutions and promote decarbonisation across the industry value chain.

We are leveraging Chinese innovation to help us achieve our decarbonisation targets, for example through our partnership with China’s State Power Investment Corporation to demonstrate battery swap electric haul truck technology at our Oyu Tolgoi copper mine in Mongolia. We are also collaborating with Tsinghua University, the University of Science and Technology Beijing and Central South University to foster low-carbon innovation and develop the talent of the future.

As we look to the year ahead, I remain optimistic about the opportunities that lie in front of us. The world is expanding, and with that growth comes an increased demand for energy, innovation, and materials.

Yes, the world faces challenges—but the challenges also open the door to innovation, collaboration, and long-term thinking.

In that spirit, we look forward to continuing our work with China and all our partners to meet the growing global demand for resources while ensuring that our efforts benefit society as a whole.

This is why events like the China Development Forum are so important. As a proud partner of the Forum for 25 years, Rio Tinto believes it provides a unique platform for exchanging ideas, addressing challenges, and forging solutions with leaders from a wide range of sectors and backgrounds.

I vividly remember my first experience at the event in 2023, where Premier Li Qiang’s speech deeply inspired me. It was also a privilege to participate in a face-to-face exchange with the Premier and address questions as a representative of the international business community.

The Forum serves as a meaningful opportunity for international companies to engage more closely with China’s high-quality development. I am confident that, together, we can generate even greater momentum for China’s future progress.

Thank you.

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