Rio Tinto Group, the world’s biggest iron ore miner, is looking at a number of possible lithium acquisitions and would like to buy an asset to produce or refine the key-battery material in Canada, according to Chief Executive Officer Jakob Stausholm.

The company still sees opportunities for small-scale deals in metals that could be similar to its purchase of a majority stake in a Chilean exploration project this week, Stausholm told reporters in Melbourne on Tuesday. Still, he stressed the need for organic growth, adding the hype around copper and lithium assets wouldn’t drive it toward major acquisitions in those sectors.

The CEO also said Rio sees steel production in China as falling slightly this decade. The market currently looked to be “fairly stable,” he said.