Derren Nathan, head of equity research at Hargreaves Lansdown, said: “Rio Tinto’s recently appointed commander in chief Simon Trott is today unveiling his master plan to investors.
“There are some bold ambitions here, which if achieved should put the mining giant on a firmer footing.
“Cost reductions and further diversification away from iron ore into future facing metals such as lithium and copper are all on the table.
“These measures have the potential to grow underlying cash profit by up to 50 per cent by the end of the decade.
“However, the path to getting here won’t be easy with nearer term guidance looking a little underwhelming.”
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