Rio Tinto’s (ASX, LON: RIO) new chief executive Simon Trott has launched a sweeping overhaul of the miner’s structure, consolidating operations into three core divisions while placing several non-core assets under review.
Trott, who took the helm on Monday after leading the company’s iron ore business, said the restructuring would simplify Rio Tinto’s portfolio into iron ore, copper, and aluminium–lithium units.
Matthew Holcz has been appointed chief executive of iron ore, Rio Tinto’s biggest profit driver. The newly unified division will combine Western Australian operations with Iron Ore Company of Canada (IoC) and, once operational, the Simandou project in Guinea.
Some mineral assets are moving to a different portfolio for review. Richards Bay Minerals in South Africa, Canada’s iron and titanium operations, and US borates mines will be transferred to Chief Commercial Officer Bold…
