New Rio Tinto CEO plans shakeup as mining giant ramps copper production [BNN Bloomberg (Canada)]
Rio Tinto Plc (RIO)
US:NYSE Investor Relations:
riotinto.com/investors-87.aspx
Company Research
Source: BNN Bloomberg
Rio Tinto is heavily focused on Australia, the leading exporter of iron ore that mostly heads to China for making steel. However along with rivals, the company is seeking to build its stake in copper, a coveted metal used in electric-vehicle batteries and data centres for artificial intelligence. “We are building from a position of strength for Rio Tinto's next chapter, sharpening and simplifying the business to deliver leading returns,” Trott said in a statement Thursday ahead of addressing investors in London. ‘Discipline' “We will drive performance through discipline, productivity and unmatched growth to unlock the full potential of our diversified portfolio of world-class assets,” Trott added. The CEO, who in late August stepped up from his role as head of Rio Tinto's iron ore division, upgraded Thursday the group's forecast for copper production in 2025 -- to as much as 875,000 tonnes from up to 850,000. The company added that its plans to cut costs and offload asset
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