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New Rio CEO skirts M&A to focus on own mines and beat slump

The new Rio Tinto Group chief’s approach to navigating the downturn in the mining industry is simple: Keep calm and carry on. That’s the mantra 44-year-old Jean-Sebastien Jacques plans to adopt after just taking over as chief executive officer of the world’s second-biggest mining company. Not undertaking a more aggressive approach to mergers and acquisitions will surprise those who predicted his appointment would signal more deals as a commodities rout forces distressed rivals to sell assets.