(Reuters) -Anglo-Australian miner Rio Tinto said on Wednesday that it will streamline operations into three business units, Iron Ore, Aluminium & Lithium, and Copper, with Matthew Holcz appointed to lead the consolidated iron ore division.
The move comes as CEO Simon Trott seeks to simplify the miner's structure and sharpen focus on its most profitable assets.
Holcz was named chief executive of the unified iron ore division, integrating Rio Tinto's Western Australian operations with Canada's iron ore operations and
Guinea's Simandou project upon completion.
The Aluminium & Lithium unit, to be led by Jérôme Pécresse, will combine Atlantic and Pacific aluminium operations with the company's recently acquired Arcadium Lithium business, while Katie Jackson continues to head the Copper division focused on Oyu Tolgoi's ramp-up process.
Outside the three core units, Rio Tinto's Borates and Iron & Titanium businesses will be transferred to the chief commercial officer's portfolio for strategic review, with further updates on their future to be provided in due course.
The review of the titanium business follows a July report by Reuters indicating that Rio Tinto was considering a sale of the unit amid weak prices and low returns. The business is currently part of Sinead Kaufman's Minerals division.
Kaufman will be leaving Rio Tinto at the end of October after almost 30 years with the company, Rio added.
(Reporting by Roushni Nair in Bengaluru; Editing by Rashmi Aich and Sherry Jacob-Phillips)
