Rio Tinto sees profit boost from cost cuts, asset sales, copper growth
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Rio Tinto announced plans to streamline its business, focusing on iron ore, copper, and aluminium & lithium. The company aims for productivity benefits, asset sales, and increased copper production. CEO Simon Trott emphasized cost savings and cash release to strengthen the balance sheet. Rio expects production growth and reduced unit costs, with earnings potentially rising 40%-50% by 2030. Copper production guidance for 2025 was upgraded, and capex forecasts were lowered. Shares showed mixed performance in London and Sydney.
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