Rio Tinto’s Jakob Stausholm tells Davos that people are underestimating how long it will take to build large-scale solar and wind farms, even in Australia.
| Even sun-abundant Australia faces a long road to large-scale solar power generation, Rio Tinto CEO Jakob Stausholm has warned, saying “we’re fooling ourselves a little bit on the timeline”.Speaking on a panel at the World Economic Forum summit in Davos on Wednesday, Mr Stausholm said that Rio Tinto’swas “not that easy, and it actually takes a lot of time”.
But in December, the company commissioned a 34 megawatt solar power plant for its Gudai-Darri iron ore mine. Rio Tinto said it was still discussing the 2026 plan, which will involve about 225,000 solar panels, with state and local governments and the traditional land owners.Asked whether governments should try to cut red and green tape to get mining and green energy projects onstream more quickly, Mr Stausholm was cautious.
Mr Stausholm was also cautious about the pace at which the world could embrace “circularity” - the recycling and re-use of steel and critical minerals. He said that the degree of geopolitical tension would determine whether countries would tackle the shortage of raw materials as a global or regional challenge. But if it was as a regional challenge, the West would need to follow China’s lead.
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