Rio Tinto (RIO) announced a new operating model. Effective immediately, Rio Tinto will simplify its product group structure to three businesses: iron ore; aluminum and lithium; and copper. Outside of the three core product groups, Rio Tinto’s borates and iron and titanium businesses will move to the chief commercial officer’s portfolio for strategic review. An update will be provided on the outcome of these reviews in due course. Throughout this review process, these businesses will continue to focus on running to meet customer commitments.
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