Simon Trott, CEO of mining giant Rio Tinto, today detailed his company’s strategy to deliver top-tier returns by becoming “stronger, sharper, and simpler.” These plans were revealed during the company’s 2025 Capital Markets Day.
Speaking to investors, Trott detailed Rio Tinto’s plans to unlock its full potential and become the most valued metals and mining company through a strategy focused on having the right assets in the right markets.
This strategy involves generating $5 billion to $10 billion through divestments and productivity improvements as he simplifies the structure of the world’s largest iron ore miner.
Rio Tinto said it is also exploring commercial partnership options for some of these assets and aims to reduce unit costs by 4% from 2024 to 2030.
The company announced $650 million in annualized productivity gains and cost savings, of which $370 million has already been realized, with the remaining expected in the first quarter.
Trott said: “We are building from a position of strength for Rio Tinto’s next chapter, sharpening and simplifying the business to deliver leading returns. We will drive performance through discipline, productivity and unmatched growth to unlock the full potential of our diversified portfolio of world-class assets.
“We are delivering strong early productivity benefits and cost savings with more to come. Freeing up cash from our asset base where it makes sense will strengthen the balance sheet and maintain returns, as we invest for the future with discipline.
“Our experienced leadership team is committed to delivering against our mission to become the most valued metals and mining company – for shareholders, the people who work with us, our partners and the communities around us,” he concluded.
Rio Tinto shares rose nearly 4% following the announcement.
By CEO NA Editorial Staff
