Name: Rio Tinto: 5 priorities for the incoming CEO
Brand: Wood Mackenzie
SKU: 204229
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Author: Wood Mackenzie

Insight 27 June 2025

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
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Rio Tinto's CEO steps down in H2 2025. His successor inherits strong fundamentals but a 40% discount to NAV versus peers. Five strategic priorities must be addressed: 1) Chinalco stake limits constraining buybacks 2) Operational excellence - closing US$7/tonne margin gap with BHP could add US$1bn annual EBITDA 3) Capital allocation with largest investment programme in peer group 4) Potential Glencore merger to fill post-2028 copper gap 5) Decarbonisation strategy - spending to meet 50% emissions cut by 2030 with reduced 7% capex budget. Decisive action is needed across all five priorities to close the valuation gap.</div>
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                    <h3 class="alpha push-half--bottom">Table of contents</h3>

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            Executive Summary
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        Rio Tinto has a strong platform for growth, but closing the valuation discount must be a priority
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        1. Resolve the impediment to buybacks
    </li>
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        How would abandoning the DLC resolve this?
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        Are there alternative solutions to dilute Chinalco’s PLC holding?
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        2. Close the margin gap with peers
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        Are there opportunities to reopen the operational efficiency playbook?
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        Is portfolio rationalisation still an option?
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        3. Refocus on capital discipline
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<p class="font-regular" >Rio Tinto 5 Priorities For The New CEO (FINAL).pdf</p>
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