At the Annual General Meeting, the Chief Executive of Rio Tinto Plc. (RTNTF.PK,RIO,RIO.L,RTPPF.PK) Sam Walsh said that the company is targeting cumulative cost savings of US$5 billion, over the next two years, compared to 2012. This will be achieved through a relentless focus on cost reduction and productivity improvement across all aspects of our business.
Walsh also said that the company is on track to deliver its Iron Ore expansion plans in the Pilbara, and the company's Oyu Tolgoi project is due to start shipping to customers in the first half of this year. It will depend on the ongoing discussions with the Government of Mongolia, where constructive progress is being made.
In addition, Walsh said the company is targeting cash proceeds from divestments, and are reviewing a number of potential non-core assets for divestment, in addition to those the company has already announced such as Pacific Aluminium and Diamonds.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.