Rio Will Focus on Its Own Growth After Glencore Talks Fail

Rio Tinto Group will focus on its own growth options after walking away from a deal to buy Glencore Plc that would have created the world’s biggest miner.

Rio reported a doubling of copper profits last year after expanding its flagship mine and prices surged. Still, while the company has major iron ore and lithium growth projects, its medium-term copper plans are relatively light compared with its peers at a time when investors have never been more focused on the metal that’s key to the energy transition.