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Rio Tinto PLC on Wednesday said it is restructuring into three businesses: Iron Ore; Aluminium & Lithium; and Copper to ‘simplify and streamline the organisation’. The London-based mining firm said the changes will ‘drive greater accountability and safe, sustainable, profitable growth through focusing on the most compelling opportunities to deliver long-term shareholder value’. Rio Tinto said Matthew Holcz will be chief executive of the Iron Ore product group. The portfolio will integrate Western Australian Iron Ore operations with the Iron Ore Company of Canada and the Simandou project in Guinea upon its completion. ‘This will combine the proven performance of the company’s established Iron Ore operations with the potential of Simandou, sharing safety best practices, cutting-edge technologies and operational experience across the entire Iron Ore portfolio to create an even stronger global business,’ the firm said. The Lithium business will move into the Aluminium product group under Jerome Pecresse. The combined product group will consist of: Atlantic Operations Aluminium, Pacific Operations Aluminium and Lithium. Copper will be led by Katie Jackson. Rio Tinto said the group ‘remains well positioned to capitalise on the global energy transition’ and will be focused on the successful ramp up of Oyu Tolgoi and the stabilising of Kennecott. It will also focus on advancing future options including the Resolution project in the US and partnerships such as Nuevo Cobre in Chile. ‘A simplified business structure, grounded in our fundamental commitment to safety and with sharper focus on the most compelling opportunities we have, will enable us to deliver new standards of operational excellence and value creation,’ said Rio Tinto Chief Executive Simon Trott. ‘It will bring greater accountability and focus to our teams, underpinned by a more disciplined approach to operational performance and capital investment.’ Trott said the firm is on track to deliver ‘strong’ mid-term production growth. Outside of the core product group, the Borates and Iron & Titanium businesses will move to the chief commercial officer’s portfolio for review. The firm said an update on the outcome of these reviews will be provided in due course. Sinead Kaufman and Kellie Parker will leave the business amid these changes, while the Chief Executive Australia role will also conclude. Shares in Rio Tinto were up 0.9% at 4,616.00 pence in London on Wednesday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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