Rio Tinto’s newly installed chief executive Simon Trott has overhauled the Anglo-Australian miner just two days into the job, folding its operations into three core business units—Iron Ore, Aluminium & Lithium, and Copper—effective immediately. The 49-year-old former iron ore head said the streamlined structure will concentrate capital on the company’s most profitable assets and lower costs amid weaker prices for iron ore and battery metals. Trott appointed Matthew Holcz to run the unified iron ore division, which will combine Western Australian sites with Canadian assets and, once developed, the Simandou project in Guinea. Jérôme Pécresse will add lithium responsibilities to his aluminium portfolio, reflecting Rio’s $6.7 billion push into the metal through the March acquisition of Arcadium Lithium. Katie Jackson remains in charge of copper, overseeing the ramp-up of the Oyu Tolgoi mine in Mongolia. Operations deemed non-core—including borates and the iron-and-titanium unit—have been shifted to Chief Commercial Officer Bold Baatar for a strategic review that could lead to disposals. The shake-up also triggers senior departures: minerals head Sinead Kaufman will exit at the end of October, while the separate Chief Executive Australia role held by Kellie Parker is being scrapped. Trott said the measures will deliver a “disciplined approach” to portfolio management and help unlock shareholder value.