Rio Tinto plans to increase EBITDA by 40-50% by 2030 through increased copper production, cost reductions, asset sales and operational optimization.
These estimates are based on long-term consensus price forecasts, as well as plans to increase copper production by 20% by the end of the decade.
Rio Tinto CEO Simon Trott said on a call with investors that the company aims to raise $5-10 billion from the sale non-core assets or minority stakes in them to their partners. These funds will be reinvested in the development of other areas, he said.
Rio Tinto is conducting a strategic audit of the titanium, iron and borate business and studying market demand for these assets.
Existing lithium projects will continue, but additional investment in them will be carried out subject to achieving a sufficient level of return on investment.
Rio Tinto plans to reduce capital expenditures in the medium term. They are expected to be less than $10 billion a year from 2028, down from about $11 billion in 2025.
Average unit operating costs will fall 4% annually by the end of the decade.
Measures aimed at improving operational efficiency also include staff cuts, Trott said, without specifying how many jobs were planned.
Rio Tinto shares rose 3.9% in Sydney trading on Thursday. At trading in London, the company's shares rose by 0.4%.
