Diversified Anglo-Australian miner Rio Tinto Ltd. (RIO.AU) said Wednesday it doesn't expect the disaster in Japan to have a material impact on its operations, though it anticipates disruptions to the global supply chain.
Rio Tinto Chief Executive Tom Albanese said the company continues to see strong global demand in aluminum, adding the growth in demand for most commodities will keep outpacing the growth in supply.
He also said Rio Tinto's priority will be to focus on organic growth and that the firm will be cautious about mergers and acquisitions, noting that most of the projects being pitched by investment banks don't involve the best quality resources.
He was speaking at the Credit Suisse Asian Investment Conference in Hong Kong.
Rio Tinto is the world's second-biggest producer of iron ore after Brazil's Vale SA, the biggest producer of uranium and a top-five producer of coking coal and copper.
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